VAMC builds strategy for debt trading Business

VAMC builds strategy for debt trading

The Vietnam Asset Management Company (VAMC) is planning to develop a new strategy for buying and selling bad debts in Vietnam this year, in which it will play a central role to promote the development of the debt trading market.
New policy to speed up bad debt settlement Business

New policy to speed up bad debt settlement

The State Bank of Vietnam (SBV) is drafting a new circular regulating credit institutions’ trading and handling of non-performing loans (NPL) with the aim of forcing the institutions to focus more on bad debt settlement.
HCM City backs Thailand’s KBank to open first branch in VN Business

HCM City backs Thailand’s KBank to open first branch in VN

Ho Chi Minh City will create favourable conditions for Thai-based Kasikorn Bank (KB Bank) to open its branch in the city, the first of its kind in Vietnam, helping diversify local credit and banking activities, Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen has said.
Banks hold auctions to cut bad debts Business

Banks hold auctions to cut bad debts

Some banks are putting assets secured with non-performing loans worth hundreds of billions of Vietnamese dong up for auction in the first days of the Lunar New Year to speed up the resolution of bad debts.
Deputy PM urges SBV to speed up settlement of bad debts Business

Deputy PM urges SBV to speed up settlement of bad debts

The State Bank of Vietnam (SBV) needed to speed up the settlement of non-performing loans (NPLs) to bring down the bad debt ratio of the entire banking system, including both NPLs owned by credit institutions and the Vietnam Asset Management Company (VAMC), to below 3 percent by 2020.
Sacombank vows to finish settling bad debts in five years Business

Sacombank vows to finish settling bad debts in five years

The Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has pledged to finish settling all of the 100 trillion VND (4.38 billion USD) of its bad debts in five years, instead of 10 years as stated in the restructuring plan approved by the State Bank of Vietnam.
Vietcombank looks to earn 570-mln-USD profit in 2018 Business

Vietcombank looks to earn 570-mln-USD profit in 2018

The largest local commercial bank, Vietcombank (VCB), has set to increase their profit to between 12.5 trillion VND (548.7 million USD) and 13 trillion VND (570.7 million USD) in 2018, up about 15 percent against 2017, said VCB Chairman Nghiem Xuan Thanh.
SBV urges resolution to bad loans Business

SBV urges resolution to bad loans

The State Bank of Vietnam (SBV) has issued a document asking credit institutions and branches of foreign banks to push the resolving of non-performing loans in 2018.
Agribank, VAMC coordinate in settling bad debts Business

Agribank, VAMC coordinate in settling bad debts

The Vietnam Bank for Agriculture and Rural Development (Agribank) and the Vietnam Asset Management Company (VAMC) will work closely together to review bad debts and put forth proper measures to accelerate the settlement and recovery of bad debts.