Topic: vamc

A report from the State Bank of Vietnam (SBV) presented to the National Assembly reveals that as of the end of August, the bad debt ratio on the banking system’s balance sheets remained at a safe 1.9 per cent. The ratio of bad debts, unresolved debts sold to the Vietnam Asset Management Company (VAMC), and potential bad debts at credit institutions was 4.99 per cent, down sharply from the 6.3 per cent posted at the end of 2021.

The Governor of the State Bank of Vietnam (SBV) has issued an action plan for the banking industry to implement the “Restructuring the system of credit institutions associated with bad debt settlement in the 2021-2025 period” project. The project clearly states the action plan for the banking industry on matters such as handling bad debts, improving credit quality, and boosting the financial capacity and operational efficiency of the Vietnam Asset Management Company (VAMC).