The State Bank of Vietnam has issued an official dispatch, urging the entire banking system to implement support measures for individuals and businesses affected by the aftermath of Typhoon No. 10 (Bualoi) and the prolonged heavy rainfall that followed.
According to the dispatch, from September 27 to 30, 2025, Typhoon No. 10 made landfall in Vietnam with intense winds across a wide area and an extended duration, accompanied by heavy rains that caused significant human and property damage. This severely impacted the livelihoods and production activities of residents in the Northern and North Central regions.
Typhoon No. 10 caused severe damage to both people and property.
In response, the State Bank of Vietnam has requested leaders of credit institutions, foreign bank branches, and regional State Bank branches in areas 1, 3, 4, 5, 6, 7, 8, 9, 11, and 12—particularly in severely affected provinces such as Son La, Lao Cai, Lai Chau, Quang Ninh, Thanh Hoa, Nghe An, Ha Tinh, Quang Tri, Thua Thien Hue, Da Nang, and Gia Lai—to promptly implement credit support measures for affected individuals.
Specifically, credit institutions are required to proactively assess the extent of damage to their borrowers and apply timely relief measures, including: restructuring debt repayment schedules, maintaining debt classification as per regulations, considering interest rate waivers or reductions based on financial capacity, providing new loans to help restore production and business activities, and managing risky debts.
Banks are also instructed to guide customers in completing debt settlement documentation transparently and in compliance with regulations, ensuring borrowers can quickly access support policies.
Regional State Bank branches are tasked with coordinating and overseeing credit institutions within their jurisdictions, collaborating closely with local departments and agencies to advise provincial and city governments on implementing region-specific support solutions.
If challenges beyond their authority arise during implementation, credit institutions and regional State Bank branches are to promptly report to the State Bank of Vietnam for further guidance and resolution.
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