Vietnamplus

The Vietnam Asset Management Company (VAMC) targeted to settle bad debts worth totally 50 trillion VND (2.15 billion USD) this year.

The Southeast Asia Joint Stock Commercial Bank (SeABank) has completed the early redemption of all special bonds at the Vietnam Asset Management Company (VAMC), thereby helping the bank proactively monitor and handle bad debts.

The Vietnam Asset Management Company (VAMC) plans to handle some 50 trillion VND (2.14 billion USD) worth of bad debts in 2019, and issue special bonds to purchase 20 trillion VND (856 million USD) of non-performing loans.

The ratio of the non-performing loans (NPLs) at commercial banks fell from 3.61 percent at the end of 2013 to 2.18 percent at present, according to Chairman of the Vietnam Asset Management Company (VAMC) Nguyen Tien Dong.

The Vietnam Asset Management Company (VAMC) will need more capital to further benefit from the National Assembly’s recent resolution on the settlement of non-performing loans (NPLs), experts said.

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.

The Vietnam Assets Management Company (VAMC) has issued special bonds to purchase over 92 trillion VND (4.18 billion USD) worth of bad debts from the beginning of this year to October 20.