VAMC buys VND92 trillion worth of bad debts
The Vietnam Assets Management Company (VAMC) has issued special bonds to purchase over VND92 trillion (US$4.18 billion) worth of bad debts from the beginning of this year to October 20, according to Nguyen Quoc Hung – Chairman of VAMC’s member board.
The figure exceeded the yearly target of buying VND80 trillion (US$3.6 billion), Hung said.
Since 2013, the company has bought VND218.9 trillion (US$9.9 billion) worth of bad debt for VND191.3 trillion (US$8.68 billion).
It has also recouped a combined VND15.69 trillion (US$713 million) from spoiled loans during the period.
VAMC fixed interest rates for as many as 28 debts from nine clients at VND367 billion and 17 other clients saw VND66 billion (US$3 million) worth of fee cuts and reductions.
Since 2013, the company has bought VND218.9 trillion (US$9.9 billion) worth of bad debt for VND191.3 trillion (US$8.68 billion).
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| Illustrative image (Photo:VNA) |
It has also recouped a combined VND15.69 trillion (US$713 million) from spoiled loans during the period.
VAMC fixed interest rates for as many as 28 debts from nine clients at VND367 billion and 17 other clients saw VND66 billion (US$3 million) worth of fee cuts and reductions.