Update news VAMC

General Director Nguyen Huu Thuy told Bloomberg that VAMC will give priority to purchase debts of the banks with the highest bad debt ratios and the debts that are guaranteed by real estate. The first transactions will be done in the next two weeks.

Which banks will sell bad debts to VAMC?

 VietNamNet Bridge – The commercial banks which have the bad debt ratios higher than 3 percent of their outstanding loans will have to sell bad debts to the Vietnam Asset Management Company (VAMC).

VAMC revs up for bad debt challenge

 VietNamNet Bridge – The Vietnam Asset Management Company (VAMC) would officially begin activities from July 26 this year with the task of helping resolve bad debts and boost credit growth in Vietnam.

VAMC may become out of work

 VietNamNet Bridge – Experts have warned that the Vietnam Asset Management Company (VAMC) may be “jobless,” because it may have no debt to trade.

Bad debts decrease, but worries still exist

The pressure on the banking system has been eased once the bad debts are on the decrease. However, bankers themselves admitted that their worries still have not been lifted.

How much is VAMC’s bond?

The Vietnam Asset Management Company (VAMC), a powerful legal entity established to restructure the bad debts, would issue bonds to deal with the debts.

Retailers lose ground against foreign rivals

 VietNamNet Bridge – In July 2011 E-Mart, South Korea's top discount store chain, signed an agreement with Viet Nam's U&I Investment Corporation to form a distribution joint venture in the country.

Foreign investors needed for bad debt settlement: expert

 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 bad debt panorama

The reports from 10 State Bank’s local branches showed that Hanoi, HCM City and Da Nang are the localities with the highest bad debt ratios.

7-percent inflation predicted for 2013

 VietNamNet Bridge – The National Financial Supervision Committee has forecast that Vietnam’s inflation rate in 2013 will be controlled at less than 7 percent.

Banks don’t want to sell bad debts?

A lot of banks would try to conceal their bad debt situation and would not sell the bad debts to the VAMC, a company to be set up by the State to help banks escape from unrecovered debts.