The Vietnam Banks Association (VBA) in coordination with the Grant Thornton Vietnam company on July 14 organised a seminar on foreign experiences in the management of bad debts and strategies to maximise profits for banks.

At the seminar, lecturers provided concrete situations and solutions, including the collaboration and discussion between bankers and creditors in order to deal with debtors.

According to some delegates, Vietnamese banks usually use courts as a final means, but do not negotiate with each other, to deal with bad debts.

The lecturers from the ANZ bank, Grant Thornton and Leadco law firm talked about typical ways to deal with bad debts, legal issues related to the management and treatment of bad debts, and the role of law consultancy in dealing with the issue.

VBA General Secretary Duong Thu Huong said know-how on the management of bad debts is much needed by Vietnamese banks, particularly in the context of the global financial and credit crisis, yielding useful lessons for their operations./.