The joint stock Saigon Commercial Bank (SBC) on March 22 inaugurated an asset management company it has set up to diversify its services.
The SCB Asset Management Company, which has a charter capital of 200 billion VND (10.5 million USD), will manage the assets mortgaged with SCB and foreclosed due to borrowers’ failure to repay loans, making decisions about whether to lease out or sell them or use them as contribution to the bank’s joint ventures.
The company would securitise overdue loans by packaging them as assets and sell them to other credit institutions and asset managers, and also buy such assets from others, the company’s chairman, Nguyen Anh Phuoc, said.
The bank’s network of more than 110 branches and transaction offices would help in his company’s development, he added./.
The SCB Asset Management Company, which has a charter capital of 200 billion VND (10.5 million USD), will manage the assets mortgaged with SCB and foreclosed due to borrowers’ failure to repay loans, making decisions about whether to lease out or sell them or use them as contribution to the bank’s joint ventures.
The company would securitise overdue loans by packaging them as assets and sell them to other credit institutions and asset managers, and also buy such assets from others, the company’s chairman, Nguyen Anh Phuoc, said.
The bank’s network of more than 110 branches and transaction offices would help in his company’s development, he added./.
