The State Bank of Vietnam (SBV) has called on commercial banks to support those severely affected by Typhoon Yagi. Nearly twelve thousand customers in Quang Ninh and Hai Phong provinces, holding loans totaling over 26 trillion VND, have been impacted. Measures being implemented include restructuring debt payment terms and reducing interest rates. VPBank announced reductions of one percentage point for medium- and long-term loans and half a percentage point for short-term loans.

Experts anticipate potential further reductions in domestic lending interest rates, depending on the United States Federal Reserve's upcoming decision on interest rates. However, any decreases are expected to be modest. Despite positive economic indicators, inflation and consumer demand remain areas of concern. The Fed's actions may provide room for domestic monetary policy adjustments, benefiting the economy and other assets.

As the cleanup continues, SBV Deputy Governor Đào Minh Tú emphasized that banks must also provide new loans to help restore production and business activities in the affected areas. This initiative aims to provide the necessary financial support for those working to rebuild their livelihoods in the aftermath of the typhoon.

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