Fourteen banks in Ho Chi Minh City have restructuring plans for the2013–15 period; of these, eleven have already had their schemes approvedby the State Bank of Viet Nam (SBV).
This statement was reportedat a working session of the local National Assembly member delegationwith the SBV branch and credit institutions in the city on May 12.
Theeleven banks include Sai Gon Commercial Bank, Nam Viet Bank, Eximbank,An Binh Bank, Saigon Bank for Industry and Trade, Nam A Bank, VietCapital Bank, Orient Commercial Bank, Asia Commercial Bank, DongA Bankand VietABank.
The three banks whose restructuring plans have not been approved yet include Sacombank, Southern Bank and HDBank.
SouthernBank was approved by the SBV in principle to merge with Sacombank,while HDBank acquired the Societe Generale Viet Finance Co and mergedwith DaiA Bank.
On March 31, the total bad debts in the city hadreached around 46.4 trillion VND, or 2.21 billion USD, representing 4.85percent of all local loans. Mortgages for the non-performing loansamounted to nearly 77 trillion VND, or 3.67 billion USD, in value.
Inthe first quarter of the year, local lenders solved 3.53 trillion VND,or 168.10 million USD, worth of bad debts. Of the figure, 487 billionVND, or 23.19 million USD, was sold to the Vietnam Asset ManagementCompany.-VNA