SMEs’ lending must be reported to SBV quarterly

State Bank of Việt Nam’s branches and credit institutions nationwide must report their lending to small-and medium-sized enterprises (SMEs) to the central bank quarterly. - Photo nganhangplus.com

Viet Nam News

HÀ NỘI – The State Bank of Việt Nam has asked its branches and credit institutions nationwide to report quarterly their lending to small-and medium-sized enterprises (SMEs).

Under Document No 62/NHNN-TD issued last week, the branches and institutions are instructed to report to the central bank their lending to SMEs as well as SMEs’ business performance and supporting policies offered to SMEs in their cities and provinces.

Besides reporting achievements and difficulties in implementing the lending, the branches and institutions must also propose policies to increase lending to SMEs.

According to the central bank, the move was aimed at helping the central bank catch up with the lending situation to SMEs in a timely manner, which is expected to effectively remove difficulties related to lending to firms, assisting them in accessing bank loans for better business and production.

The branches and institutions must also closely work with relevant municipal and provincial agencies to remove hindrances in implementing policies to support SMEs related to the banking industry. - VNS

Tags SMEs SBV

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