bad debt

Update news bad debt

The National Assembly (NA) has agreed to extend a pilot resolution on bad debt settlement until the end of 2023 instead of this year.

Banking industry inundated with bad debts

A report submitted to the National Assembly for extending the application period for Resolution 42/2017/QH14 on bad debts settlement by credit institutions (CIs) states that bad debts as of August 15, 2017, were at VND541.6 trillion.

NA agrees to extend pilot resolution on bad debt settlement until end 2023

The National Assembly (NA)’s Standing Committee has agreed to extend a pilot resolution on bad debt settlement until the end of 2023 instead of this year.

Law on bad debt settlement urgently needed: experts

Experts said a law on bad debt settlement should be put in place before two regulations expire in six months.

Business stories: owners pocket more money

The wife of billionaire Tran Dinh Long has added her name to the list of top 10 stock billionaires. Luong Thi Cam Tu has been appointed as Chair of Eximbank. Boss Duc’s businesses face compulsory delisting. Top business stories:

Vietnamese banks facing bad debt increases

Despite the negative impacts of the Covid-19 pandemic, the credit of the country economy in 2021 witnessed an increase of 13 percent compared to last year. The bad news is an unavoidable rise of bad debts in many banks.

Banks’ bad debts rise again, raising concerns

Banks have reported an increase in bad debts because of the impact of the fourth Covid-19 wave. Old debts have not been settled and new debt is increasing.

Bad debt trading platform to start operation

The bad debt trading floor of Vietnam Asset Management Company (VAMC) is set to begin operation today (October 15).

Banks offer to sell consumer debts of only hundreds of thousand of VND

Banks have put on sale consumer debts with no collateral with very small value. One of the debts has the value of VND483,000, including principal, interest and fine.

Retired deputy minister becomes bank president

VietBank’s president has unexpectedly resigned and his position has been transferred to a former government official.

Trillions of dong worth of debt settled each month, after resolution released

A daring decision has helped the financial market and the banking system to stand firmly during Covid-19.

Organisations rush to sell Sacombank shares to retrieve debts

Some organisations have rushed to sell shares of Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) to retrieve bad debts, but it was not easy to find buyers agreeing with the offered price.

 

Liquidity abundant, banks given larger room for credit

State Bank Vietnam (SBV) Governor Le Minh Hung said at a conference on reviewing socio-economic development in the first half of the year that SBV has adjusted the 2020 credit growth rate limits of some banks.

Bad debts get worse

Even after launching a credit package worth hundreds of trillions of dong to support businesses, bad debts will still increase this year.

Predatory debt collectors hustling on borrowed time

Debt-collecting businesses are to be banned in Vietnam as part of local government action to protect customers’ rights, with the upsurge of predatory lending services triggering heated debate and eroding public trust.

Bad debts return, bank profits fall

Along with implementing better provisions against credit risks, commercial banks are stepping up the sale of mortgaged assets to collect debts.

Authorities get to grips with new bad debt mountain

A spike in the amount of bad loans sitting in banks’ books has triggered Vietnamese authorities to seek new paths to recovery,

Corporate debt seen as big risk in 2020

Some large private corporations have had to withdraw their capital from many projects and take out new loans.

Bad debts may increase amid coronavirus outbreak

Bankers anticipate that the coronavirus outbreak will affect the business of many of their clients.

Vietnam’s banks to be very busy in 2020: analysts

The banks will have to complete the transitional period to meet Basel II standards and begin the race for Basel III, and will also have to list shares and compete fiercely in the digital transformation process.