VAMC issues VND243 trillion of special bonds
The Vietnam Asset Management Company (VAMC) issued over VND234 trillion (US$10.4 billion) worth of special bonds as of 2015, according to VAMC General Director Nguyen Huu Thuy.
Last year alone, the company splashed out VND111 trillion (US$4.95 billion) on purchasing principals, and issued special bonds worth VND110 trillion (US$4.9 billion).
During 2013-2015, the VAMC joined hands with other credit institutions to recover debts totaling nearly VND22.8 trillion (US$1.02 billion), and settle special bonds valued at over VND11.7 trillion (US$521.5 million).
In addition, VAMC’s performance was also recorded in debts rescheduling and adjusting and selling collateral, among others, which made great contributions to decreasing the banking system’s bad debt ratio to 2.72% by the end of last November.
In 2016, the VAMC will continue handling bad debts by issuing special bonds while piloting activities related to guarantee, investment and capital contribution in orderr to support customers. It also continues conducting research and giving proposals to relevant authorities, helping complete legal frameworks, mechanism and policies on debt settlement and development of the debt trading market.
During 2013-2015, the VAMC joined hands with other credit institutions to recover debts totaling nearly VND22.8 trillion (US$1.02 billion), and settle special bonds valued at over VND11.7 trillion (US$521.5 million).
In addition, VAMC’s performance was also recorded in debts rescheduling and adjusting and selling collateral, among others, which made great contributions to decreasing the banking system’s bad debt ratio to 2.72% by the end of last November.
In 2016, the VAMC will continue handling bad debts by issuing special bonds while piloting activities related to guarantee, investment and capital contribution in orderr to support customers. It also continues conducting research and giving proposals to relevant authorities, helping complete legal frameworks, mechanism and policies on debt settlement and development of the debt trading market.