DEBT REPAYMENT RESTRUCTURING AND DEBT CLASSIFICATION RETENTION POLICY ACCORDING TO CIRCULAR 02/2023/TT-NHNN

Apr 28 2023 03:12PM

Dear Value Clients,

 

In order to contribute to addressing the difficulties in the economy as well as facilitate you to access new financing sources for production and business, BPCE IOM – Ho Chi Minh City Branch (hereinafter referred to as the “Bank”) would like to inform you of the policy of debt repayment restructuring and debt classification retention as below.  

 

Related regulation

Circular 02/2023/TT-NHNN dated 23 April 2023 of the State Bank of Vietnam

Eligibility

A qualified debt must meet the following conditions:

1.          Principal incurred prior to 24 April 2023 and from lending;

2.          Principal and/or interest repayment schedule due from 24 April 2023 to 30 June 2024;

3.          The debt not yet due or overdue up to 10 (ten) days from the repayment due date, repayment schedule;

4.          Assessed by the Bank that the reason for failing to timely repay the scheduled principal and/or interest is from a decrease in actual revenue compared to that in the principal and/or interest repayment plan; and

5.          Assessed by the Branch that the Value Client is able to fully repay principal and/or interest in line with the restructured repayment schedule.

Exclusions

Debts of legal violation

Deadline for review

By the end of 30 June 2024.

Duration of debt restructuring

Subject to actual issues of the Value Client, but in no case to exceed 12 months from the due date of the debt to be restructured.

Required documents

Please contact BPCE IOM – HCMC for more information.

 

Please contact the Customer Contact Manager when you need more information and support.

 

Thank you.

OTHERS