Tags: vietnam asset management company

SeABank completes settlement of VAMC special bonds

SeABank completes settlement of VAMC special bonds

The Southeast Asia Joint Stock Commercial Bank (SeABank) has completed the early redemption of all special bonds at the Vietnam Asset Management Company (VAMC), thereby helping the bank proactively monitor and handle bad debts.

VMAC builds strategy for debt trading

VMAC builds strategy for debt trading

The Việt Nam Asset Management Company (VAMC) is planning to develop a new strategy for buying and selling bad debts in Việt Nam this year, in which it will play a central role to promote the development of the debt trading market.

Bad debt ratio among banks drops sharply to 6.7%

Bad debt ratio among banks drops sharply to 6.7%

Vietnam’s finance and banking sector has reduced its ratio of non-performing loans (NPLs) – including both NPLs owned by credit institutions and the Vietnam Asset Management Company – from 17.2% in 2012 to 6.7% at the end of June 2018.

Bank tickers anticipated upbeat momentum ahead

Bank tickers anticipated upbeat momentum ahead

Despite some corrections in the first half, bank tickers are expected to lead the market in the second half, buoyed by dwindling provisioning and upbeat profit prospect.

Bad debt stands at 2.51% in late July

Bad debt stands at 2.51% in late July

The banking sector’s total bad debts stood at 2.51 percent as of the end of July 2017, falling from 2.55 percent at the end of 2015, according to a report by the State Bank of Vietnam (SBV) to the National Assembly.

VAMC needs more capital to settle bad debts

VAMC needs more capital to settle bad debts

The Vietnam Asset Management Company (VAMC) will need more capital to further benefit from the National Assembly’s recent resolution on the settlement of non-performing loans (NPLs), experts said.

Saigon One Tower going under the hammer

Saigon One Tower going under the hammer

The future of the ill-fated US$256-million Saigon One Tower remains uncertain after Vietnam Asset Management Company recently announced that the project will be seized due to the owners’ accruing significant bad debts.

Sacombank to recoup VND20 trillion of bad debts in 2017

Sacombank to recoup VND20 trillion of bad debts in 2017

The Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) aims to tackle VND20 trillion (US$880 million) of bad debts in 2017, with the bank taking drastic measures to implement a restructuring scheme, said its chairman Duong Cong Minh.

Banking sector sees 6.53 percent in credit growth

Banking sector sees 6.53 percent in credit growth

Vietnam’s total loans by May 25 grew 6.53% from the end of 2016, which supported domestic production and business in the context of slow public investment disbursement since the beginning of the year.

M&A in banking unlikely to pick up soon

M&A in banking unlikely to pick up soon

Mergers and acquisitions (M&A) activities in the banking sector in the past two years seem to have cooled down, and without the right policies that would solve major bottlenecks in the process of buying banks, it is unlikely to pick up soon.

Vietnam issues restructuring action programme

Vietnam issues restructuring action programme

The Government has issued an action programme to implement the policies on economic restructuring and building of a new growth model for the period between 2016 and 2020.

Moody's outlook remains stable for Vietnam banking system

Moody's outlook remains stable for Vietnam banking system

Credit ratings agency Moody’s has indicated that the outlook for the banking system in Vietnam is stable over the next 12-18 months, reflecting Moody's expectation that the country's macroeconomic stability and resilient economic growth will continue to support the banks' weak credit profiles.

VAMC can meet debt recovery target this year

VAMC can meet debt recovery target this year

The Vietnam Asset Management Company (VAMC) could meet a target to recover VND30 trillion (US$1.339 billion) of bad debts this year, VAMC Deputy General Director Nguyen Van Thang said.