bad debts

Update news bad debts


 HCM City refunds 1.4 mln USD of VAT for foreigners; VAMC announces interest rate for purchased bad debts; Imports of under-9-seat-cars soar; Toyota expands its recall campaign; Land rentals likely to rise

Banks still bear risks even after selling debts to VAMC

 VietNamNet Bridge – International institutions are remaining doubtful about the ability of the Vietnam Asset Management Company (VAMC) to settle bad debts.

VAMC buys $190 million of bad debts

VietNamNet Bridge – The Viet Nam Asset Management Company (VAMC) has purchased nearly VND4 trillion (US$190.4 million) in bad debts from 10 credit institutions in the first quarter of this year,

SBV creates more tools to help settle bad debts

 VietNamNet Bridge – The watchdog agencies are considering laying the “rails” for VAMC (the Vietnam Asset Management Company) to go ahead to settle the bad debts it buys from credit institutions.

VN steady amidst global turmoil

 VietNamNet Bridge – Viet Nam has remained relatively robust amidst the turmoil in international financial markets, HSBC has said in a regular monthly report.

Banks to be forced to list shares to help stop cross-ownership

The State Securities Commission (SSC) and the State Bank of Vietnam (SBV) have urged commercial banks to list their shares on the bourse to make it easier to control the banks’ finance situation.

Economy passes 2013 in stability, gears up for changes

 VietNamNet Bridge – The economy wraps up the grim year 2013 in stability, with many major economic indicators showing robust growth, but stagnation remains a major concern for 2014 and the years that follow.

VAMC’s herculean debt task in review

VietNamNet Bridge – Nearly half a year since the Vietnam Asset Management Company was established to restructure the Vietnamese banking system’s bad debts, VAMC chairman Dang Thanh Binh spoke with VIR about the company’s achievements


 Holiday season drives prices up; VAMC eats up bad debts from credit institutions; SBV to continue gold auctions; New house tax to fund infrastructure; Exports need quality breakthroughs; New shipbuilding firm to begin operations

Coffee firm leaves banks with bags of bitter debt

 Banks are being questioned over the quality of the credit checks after it was revealed that the Truong Ngan Company owed debts to seven different banks while using the same collateral.

Vietnamese banks’ CARs surprisingly high

 VietNamNet Bridge – Vietnamese banks see bad debts increasing, but all of them have got higher capital safety. Meanwhile, the commercial banks believed to have high capital safety are the ones which may lose capital easily.

It’s easy to buy, but difficult to re-sell bad debts

 VietNamNet Bridge – Though recognizing the efforts by the Vietnam Asset Management Company (VAMC), experts have pointed out that VAMC is not experienced enough to deal with bad debts.

PM calls for more efforts to rein in inflation

 VietNamNet Bridge – Prime Minister Nguyen Tan Dung has called on ministries, sectors and localities to continue strongly applying measures to stabilise the macro-economy and rein in inflation.

Non-performing loans total $6b in July

 VietNamNet Bridge – Non-performing loans totalled VND138.98 trillion (US$6 billion) by the end of July, accounting for 4.58 per cent of commercial banks' total loans, according to the latest data from the State Bank of Viet Nam.

Central bank eases debt hurdle

 VietNamNet Bridge – Many banks are hoping to offload their bad debts on the new asset management company after the central bank removed a major hurdle to selling their bad debts to the new asset management company,

New rule enables VAMC to auction bad debt

 VietNamNet Bridge – The State Bank of Vietnam has just issued Circular 19 regulating operations of the Vietnam Asset Management Company (VAMC), giving it the mandate to auction bad debts at credit institutions.

Investors advised to be wary of bank shares

 VietNamNet Bridge – Investors should be wary of investing in bank shares as the industry faces potential shake-ups in the near future.

Vietnam’s NPL attractive to foreign investors

 VietNamNet Bridge - While Vietnamese banks are not much interested in selling bad debt for debt settlement companies, many foreign investors are very excited.

Banks accept debt payment in stocks to ease bad debts

 VietNamNet Bridge – Unable to clear inventories to get money for debt payment, a lot of debtors have to pay in their shares.

Coffee exporters follow each others’ steps falling into decay

VietNamNet Bridge – The last three years have witnessed the deaths of a series of companies and coffee material collection agents in the Central Highlands.