HANOI: Vietnamese banks’ profitability will be squeezed due to typhoon debt relief measures, S&P Global said on Thursday, as the country recovers from the impacts of Typhoon Yagi, Asia’s strongest storm this year.
The typhoon killed more than 290 people and caused property damage of around $2.47 billion.
The central bank has directed commercial banks to provide debt relief to individuals and businesses affected.
Comments
Comments are closed for this article.