The Government has requested the National Assembly to sanction a substantial investment of VND 20,695 billion (over $834 million) in state capital for Vietcombank.

At a recent meeting with the government, banks proposed the right to seize collateral as a solution to streamline the handling of bad debts, particularly in cases where legal proceedings drag on.

Prime Minister Pham Minh Chinh chaired a meeting on September 21 between cabinet members and leaders of 13 joint stock commercial banks as part of efforts to seek measures aimed at boosting national socio-economic development.

Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has urged credit institutions to evaluate the impacts of typhoon Yagi and classify affected customers eligible for support programmes.

VAMC has purchased the bad debts of Sacombank related to Phúc An Khang International Hospital and Bình Dương Construction Stone.

With a sharp depreciation of the US dollar against the Vietnamese dong, the State Treasury has continuously bought large amounts of the greenback from commercial banks.

Many banks have recently poured thousands of billions of Vietnamese dong into green projects.

Commercial banks must provide information on accounts that show possible signs of fraud, swindling, or law violations at the State Bank of Vietnam (SBV) 's request every month.

Many banks have recently rushed to put up real estate collateral for sale to recover bad debts, but they are finding it difficult to sell the assets despite reducing prices.

Expanding investments to drive economic growth is a priority in achieving the target of 15% set for this year, said Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.

Bad debts in the banking system in the first five months of 2024 continued to increase by some 75.9 trillion VND (3 billion USD) against the end of 2023.