Update news bad debt
VietNamNet Bridge – Policies should be made more liberal for foreign investors to get involved in debt trading, and thus bad debt settlement can be accelerated,
The Governor of the State Bank of Vietnam has decided to delay the implementation of the Circular No. 02 guiding the provisioning against the risks in credit activities.
Finance leasing companies have been operating in a risky legal framework where they can easily lose capital because of bad debs and incur losses.
A lot of the well-known names, who were considered the big sharks in the business circle, have become miserable with the big debts on their shoulders.
VietNamNet Bridge – The changes in the criteria and the method for bad debt classification will surely make the bad debt ratio increase sharply.
VietNamNet Bridge – Despite challenges ahead, experts in the banking and securities industry expect the stock market to see a gradual recovery given an expected improvement in economic conditions this year.
VietNamNet Bridge – The troubled property market, together with the struggling financial market, should be restructured rather than rescued in the nation’s economic restructuring process,
Whether Vietnam can settle bad debts or not will decide how the Vietnam’s national economy performs in 2013. Meanwhile, it’s still unclear where the money to settle the bad debts comes from.
VietNamNet Bridge – Machines, equipment, goods, real estate have all been advertised for sale by commercial banks to claim back their lent money. However, this proves to be a hard job.