CONSIDERATIONS FOR EXEMPTIONS FROM/REDUCTIONS OF INTEREST ON BANK LOANS DUE TO EFFECTS OF COVID-19

– According to Official Letter No. 1117/NHNN-TD issued by the State Bank on and coming into effect from February 24, 2020:

• Accordingly, the State Bank requests credit institutions to actively be aware of production and business situations, to review and to evaluate the damage, effects to capital borrowing clients due to Covid-19 to:
• Restructure debt payment deadlines, reduce/exempt loan interests, temporarily maintain debt categories until the State Bank issues a Circular to instruct this matter;
• Give out new loans to clients in accordance with the law to stabilize businesses and production.

– The above contents are applied to loans affected by the Covid-19 outbreak and having due principal and/or interest from January 23, 2020 to March 31, 2020.

Best regards,