Vietnam to order banks to cut or delay interest payments for virus-hit companies

HANOI (Bloomberg): The State Bank of Vietnam will order commercial banks to eliminate, cut or delay interest payments on loans to companies struggling with plunging revenue because of the coronavirus outbreak.

"We are going to request banks to either exempt, reduce or delay interest payments for loans as of Jan 23, when the government declared the epidemic, ” Nguyen Quoc Hung, head of the central bank’s credit department, said in an interview in Hanoi.