Commercial banks encouraged to deal with bad debts on their own
Commercial banks are encouraged to rapidly deal with bad debts by their own risk provisions rather than counting on the national bad debt trading company.
Tackling bad debts has been considered a major task in order to partly fulfil macroeconomic goals in the second half of the year.
The government and Ministry of Planning and Investment urged banks to promptly abolish bad debts with their risk provision without waiting for establishment of debt trading firm.
As such, excessive substandard debts are required to be eliminated in the first place before the plan of setting an agency to handle all bad debts has been approved.
Category: Finance
