The Vietnam Asset Management Company (VAMC) has decided to issue its second batch of special bonds to help handle bad debts for several banks, the State Bank announced on October 18.
The bank said the bonds, worth of 3,070 billion VND (146.1 million USD) with five-year maturity from October 22, 2013 to October 22, 2018 and a zero percent interest rate, are sold for its three clients, namely Sai Gon Commercial Bank (SCB), Southern Bank, and Agribank.
Of the total, SCB will buy nearly 1,191.7 billion VND; Southern Bank, over 154.5 billion VND; and Agribank, approximately 1,723.8 billion VND.
On October 14, VAMC had already issued bonds worth of 792.6 billion VND for SCB, Sai Gon Hanoi Bank (SHB) and Petroleum Bank (PGBank).-VNA
The bank said the bonds, worth of 3,070 billion VND (146.1 million USD) with five-year maturity from October 22, 2013 to October 22, 2018 and a zero percent interest rate, are sold for its three clients, namely Sai Gon Commercial Bank (SCB), Southern Bank, and Agribank.
Of the total, SCB will buy nearly 1,191.7 billion VND; Southern Bank, over 154.5 billion VND; and Agribank, approximately 1,723.8 billion VND.
On October 14, VAMC had already issued bonds worth of 792.6 billion VND for SCB, Sai Gon Hanoi Bank (SHB) and Petroleum Bank (PGBank).-VNA
