Update news bad debt
While Vietcombank leads state-owned banks in terms of profit, there are three candidates for the No 1 position among private banks.
Commercial banks’ finance reports show that bad debts have been increasing again. Bad debt will be one of big problems for banks this year.
2019 has been a good year for the banking sector. Most commercial banks performed well with profit results exceeding the targets set earlier in the year.
Banks’ nine-month financial reports show that bad debts have increased compared with the beginning of the year, though the bad debt ratio has fallen.
The banking sector had made considerable headway into settling bad debt, restructuring credit institutions and developing the banking system two years since the National Assembly issued a resolution on the industry.
Many banks are auctioning mortgaged assets, mainly real estate, worth trillions of Vietnamese dong to speed up the resolution of non-performing loans.
Many commercial banks have reported profits of trillions of dong in the first half of the year.
VietNamNet Bridge - While commercial banks in the world are changing fast to adapt to the 4.0 industrial revolution, Vietnam’s banks are still busy trying to raise capital.
VietNamNet Bridge - The Vietnam Asset Management Company and commercial banks are offering to sell valuable real estate assets worth tens to hundreds of billion of dong each.
VietNamNet Bridge - Vietnamese are increasingly borrowing money to spend on consumer goods as consumer loans had reached $5 billion by the end of 2017.