To:

- Credit institutions and foreign bank branches;
- State Bank branches in provinces and cities.

In accordance with the Government's guiding policies and based on reports of fees being applied at some credit institutions, the State Bank of Vietnam requires all credit institutions and foreign bank branches (hereinafter referred to as credit institutions) and State Bank branches in provinces and cities to conduct the following:

1. With respect to credit institutions

- Credit institutions continue to implement cost reduction solutions to waive and reduce fees, with a view to support and resolve difficulties for customers to restore production and business, in accordance with the Government's direction in Resolution No. 11/NQ-CP dated January 30, 2022 and Notice No. 225/TB-VPCP dated June 15, 2023 of the Government Office.

- Credit institutions should review their fee collection and applicable fees to consider waiving or reducing unnecessary fees, in accordance with government policies, to continue supporting loan customers. Develop appropriate fees and rates to promote businesses’ and individuals’ access to credit capital, enabling them to overcome difficulties and grow their production and business activities.

- Collect fees in accordance with the law, and publish service fees in the credit institution's business activities. Disclose the bank's fee waiver and reduction policy to customers so they can understand and access support from credit institutions. Strengthen inspection and enforcement of affiliated units' compliance with fee collection policies for customers, and promptly detect and strictly handle any violations.

2. With respect to State Bank branches in provinces or cities

...

...

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- Communicate Government and State Bank policies and directives to credit institutions to help them actively support people, businesses, and loan customers.

The State Bank of Vietnam requires credit institutions, foreign bank branches, and State Bank branches in provinces and cities to strictly implement the new guidelines./.

ON BEHALF OF GOVERNOR
PP. CHIEF BANKING INSPECTOR
DEPUTY CHIEF BANKING INSPECTOR




Nguyen Duc Long