VAMC collects nearly 152tr dong since its establishment

22-Jan-2020 Intellasia | Tri Thuc Tre | 6:02 AM Print This Post

At the recent Mission Implementation Conference, Vietnam Asset Management Company (VAMC) said that in 2019, bad debt was purchased with special bonds of 381 obligations, reaching 20.544 trillion dong of principal internal balance, the debt purchase price was 19.846 trillion dong, reaching the plan assigned by the State Bank of Vietnam (SBV).

Purchasing non-performing loans at the market value of 37 debts reached 2.247 trillion dong, helping to handle more than 2.131 trillion dong of principal loans to credit institutions, reaching 112 percent of the targets approved and adjusted by SBV were the great achievements of VAMC. Besides, fixed asset handling estimated at 5.757 trillion dong; debt selling was at 6.332 trillion dong; urging debt recovery was about 20.391 trillion dong.

Since Resolution 42 came into effect, VAMC’s debt collection results in the three years of 2017, 2018 and 2019 reached 90.556 trillion dong, equaling 60 percent of the total accumulated debt recovery value from 2013 to the present. VAMC had also cooperated with credit institutions to carry out measures prescribed in Resolution 42, such as arresting collaterals of three bad debts with the amount of collateral of 4.303 trillion dong.

Accumulated from its establishment until December 31, 2019, VAMC cooperated with credit institutions to collect 151.86 trillion dong of debt. By the end of December 31, 2019, out of 40 credit institutions selling debt to VAMC, there had been 12 credit institutions performing debt settlement for VAMC. Notably, in 2019, seven major credit institutions had completed debt to VAMC such as Vietnam Bank for Agriculture and Rural Development (Agribank), Southeast Asia Commercial Joint Stock Bank (SeABank), Kien Long Commercial JointStock Bank (Kienlongbank), etc.

 


Category: Finance, Vietnam

Print This Post