Banks selling mortgaged assets to recover bad debts
Many banks are rushing to sell mortgaged assets to recover bad debts, as these types of debts are forecast to increase slightly this year.
VAMC to auction bad debts starting at nearly 10 million USD
The Vietnam Asset Management Company (VAMC) has disclosed its plan to auction off bad debts from two clients, namely Phuc An Khang International Hospital Corporation and Binh Duong Construction Stone Co., Ltd.
Bad debts kept rising in five months
Bad debts in the banking system in the first five months of 2024 continued to increase by some 75.9 trillion VND (3 billion USD) against the end of 2023.
Banks estimate large extraordinary revenues from debt recovery
Some banks, including MSB, Sacombank, VIB and Saigonbank, are expecting extraordinary revenues worth up to trillions of Vietnamese dong from debt recovery this year.
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