Saturday, 26/07/2025
   

VNBA invites members to comment on the draft Circular on restructuring debt repayment terms and maintaining the same debt group

The Vietnam Banks Association (VNBA) has just sent an official dispatch to the General Directors of member organizations inviting comments on the draft Circular amending and supplementing a number of articles of the Circular No.02/2023/TT-NHNN (Circular 02) on restructuring the debt repayment period and keeping the debt group intact.

According to the Official Dispatch No. 4056/NHNN-TD dated May 16, 2024 of the State Bank of Vietnam on collecting comments on the draft Circular amending and supplementing a number of articles of the Circular No.02/2023/TT- NHNN that regulates credit institutions and foreign bank branches to restructure debt repayment terms and maintain the same debt group to support customers in difficulty.

The State Bank of Vietnam said that although the macro economy in the first 2 months of 2024 was basically stable, the economy continued its recovery trend but still faced many difficulties and challenges, which are forecasted to continue in 2024.

According to the policy of the National Assembly and the Government, we will continue to support the removal of difficulties to promote economic growth and macroeconomic stability in 2024. Therefore, extending the debt restructuring period according to the Circular 02 will contribute to solving difficulties for borrowers, contributing to the recovery and development of the economy.

In particular, the Circular No. 02 stipulates that credit institutions must determine the specific provision amount that must be set aside for the entire customer's outstanding debt as in the case of not applying the regulation on keeping the debt group intact and must make fully supplemented provision on December 31, 2024.

By December 31, 2024, credit institutions will have enough financial resources to handle risks such as in the case of credit institutions classifying debts and making provision for risk according to current regulations (Circular 11/2021 /TT-NHNN). Therefore, in case of extending the debt restructuring time according to the Circular until December 31, 2024, it will not affect the risk provision mechanism due to extending the debt restructuring time and keeping the debt group intact for the system.

In addition, extending the debt restructuring period according to the Circular No. 02 to December 31, 2024 will contribute to reducing the bad debt increase on the balance sheet of credit institutions and create conditions for credit institutions to solve difficulties for customers, contributing to economic recovery.

Therefore, the State Bank of Vietnam finds it necessary to develop and issue a Circular amending and supplementing some articles of the Circular No. 02 as a basis for credit institutions to implement.

Accordingly, the draft Circular amending and supplementing some articles of the Circular No. 02 is built with 03 Articles, specifically: Article 1, amending and supplementing some articles of the Circular No. 02/2023/ TT-NHNN dated April 23, 2023 that regulates credit institutions and foreign bank branches to restructure debt repayment terms and maintain the same debt group to support customers in difficulty.

1. Amend the Clause 2, Article 4 as follows: “2. The obligation to repay principal and/or interest arises during the period from the effective date of this Circular to December 31, 2024.

2. Amend the Clause 8, Article 4 as follows: “8. Restructuring the debt repayment period for customers according to the provisions of this Circular will be implemented from the effective date of this Circular until December 31, 2024.

Article 2, implementation provisions, “This Circular takes effect from … month…. year 2024”; Article 3, implementation organization.

The Vietnam Banks Association requests member credit institutions to comment on this Draft Circular.

Please send written comments (including word files) to the Vietnam Banks Association through email address: phamthivananh3110@gmail.com before May 25, 2024 (Phone : 0904.431.189 - Ms. Van Anh).

We look forward to receiving the attention and cooperation of your member credit institutions.

VNBA News

  • Capital poured into agriculture, rural areas

    Capital poured into agriculture, rural areas

    Credit growth for agriculture and rural development in Việt Nam rose 5.31 per cent in the first half of 2025 compared to the end of 2024, accounting for 23.16 per cent of the country’s total outstanding loans.

  • Interest rate developments applied by credit institutions in June 2025

    Interest rate developments applied by credit institutions in June 2025

    State Bank of Vietnam has just released the interest rate developments of credit institutions in June 2025

  • Interest rate cut requires a trade-off in foreign exchange rate

    Interest rate cut requires a trade-off in foreign exchange rate

    Phạm Chí Quang, Director of the State Bank of Vietnam (SBV)’s Monetary Policy Department, talks about the cause of the đồng devaluation and forecasts the đồng in the second half of 2025.

  • SBV Action Plan to implement the National Strategy on Green Growth

    SBV Action Plan to implement the National Strategy on Green Growth

    State Bank of Vietnam (SBV) has coordinated with the German Agency for International Cooperation (GIZ), the International Finance Corporation (IFC), and the Swiss Secretariat for Economic Affairs (SECO) in organizing a Workshop to promote the implementation of the Banking Sector's Action Plan to implement the National Strategy on Green Growth for the period 2021 – 2030, and the Launching Ceremony of the Handbook on Environmental and Social Risk Management System in Credit Granting Activities.

  • Autonomy and stability balanced via credit reform

    Autonomy and stability balanced via credit reform

    The State Bank of Vietnam is setting out a roadmap towards removing credit growth ceilings, accompanied by efforts to enhance the autonomy of credit institutions.

  • More than 86 million bank accounts to be terminated from September 1

    More than 86 million bank accounts to be terminated from September 1

    The SBV stated that the deletion of over 86 million bank accounts was considered a system cleanup measure.

  • Vietnamese banks set for growth on major policy shift

    Vietnamese banks set for growth on major policy shift

    Experts believe that if managed properly, lifting credit room restrictions will enhance lending flexibility, allowing for a more natural adjustment of capital supply and demand, thereby facilitating investment and production needs in the economy.

  • Completing the legal framework for green finance development

    Completing the legal framework for green finance development

    On July 15, 2025, in Hanoi, the Policy Committee of the Vietnam Banks Association (VNBA) successfully organized a Seminar with the theme "Completing the legal framework to facilitate the operations of credit institutions related to green finance". The event brought together many leading experts, representatives of management agencies and financial institutions to discuss solutions to promote the sustainable development of green credit in Vietnam, in line with the country's potential and goals.

  • Vietnam Banks Association debuts its Risk Committee

    Vietnam Banks Association debuts its Risk Committee

    On July 16, 2025, in Hanoi, the Vietnam Banks Association (VNBA) officially announced and launched the Risk Committee under the Association Council.

  • Data is crucial for banking industry to move to new development phase

    Data is crucial for banking industry to move to new development phase

    The banking industry, one of the leading fields in applying technology and digitalising services, has all the conditions to move to a new development phase where data is considered the centre for all operations, decision-making and customer service, Vice Chairman and General Secretary of the Vietnam Banks Association (VNBA) Nguyễn Quốc Hùng said on Wednesday.

Calculate deposit interest
VNĐ
%/year
month
Calculate deposit interest

Loan calculation
VNĐ
%/year
month
Loan calculation