VAMC General Director Nguyen Huu Thuy (Photo: VNA)

 

Hanoi (VNA) - The Vietnam Asset Management Company (VAMC) issued over 234 trillion VND (10.4 billion USD) worth of special bonds as of 2015, according to VAMC General Director Nguyen Huu Thuy.

Last year alone, the company splashed out 111 trillion VND (4.95 billion USD) on purchasing principals, and issued special bonds worth 110 trillion VND (4.9 billion USD).

During 2013-2015, the VAMC joined hands with other credit institutions to recover debts totaling nearly 22.8 trillion VND (1.02 billion USD), and settle special bonds valued at over 11.7 trillion VND (521.5 million USD).

In addition, VAMC’s performance was also recorded in debts rescheduling and adjusting and selling collateral, among others, which made great contributions to decreasing the banking system’s bad debt ratio to 2.72 percent by the end of last November.

In 2016, the VAMC will continue handling bad debts by issuing special bonds while piloting activities related to guarantee, investment and capital contribution in orderr to support customers. It also continues conducting research and giving proposals to relevant authorities, helping complete legal frameworks, mechanism and policies on debt settlement and development of the debt trading market.-VNA