November 13, 2011
Wiping out small banks should not be the goal of banking reform A customer exits a branch of Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, in Hanoi. Bad debts at local banks are rising, raising concerns about the safety of the whole banking system. With bad debt exposure rising among local [...]
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October 19, 2011
Bad debts at Vietnam’s banks have risen to 3.21 percent of outstanding loans at the end of August, from 3.04 percent a month earlier, a central bank report on Tuesday said. “Bad debt has been rising gradually every month so far this year,” the report said. Loans at the banks totaled VND2,389 trillion ($114.1 [...]
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September 24, 2011
Workers clean the Keangnam residence tower in Hanoi September 20, 2011. Like many hoping for easy cash in Vietnam’s property market, Nguyen Thu Huong borrowed VND500 million ($24,000) from a bank in April to buy a new flat she didn’t need and planned to flip. The only question, she thought, was how big the [...]
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July 30, 2011
Saigon Asset Management Corp., run by a former managing director of Vietnam’s biggest fund manager, plans to start the country’s first distressed-assets fund as a credit crunch squeezes small to medium-sized firms. Saigon Asset Management will team up with the investment unit of Vietnam Joint-Stock Commercial Bank for Industry & Trade, or VietinBank, the [...]
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July 22, 2009
The State Bank of Vietnam has announced the bad debt ratio of the banking system at 2.52 percent of total outstanding loans, an increase of 0.35 percent over the end of 2008. Should this be worrying? According to Le Xuan Nghia, Deputy Chairman of the National Committee for Finance Supervision, the announced bad debt ratio, [...]
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May 19, 2009
Commercial banks have been warned about a bad debt rate increase in the post-crisis period and urged to apply measures to minimise non-performing loans (NPL). Financial experts say that it is unavoidable that bad debt rates increase after a crisis period. Meanwhile, commercial banks affirm they have been strictly controlling loans. Many banks say they [...]
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April 21, 2009
Shareholders of Eximbank said at the bank’s shareholders’ meeting on April 17 that the business goal the bank’s leadership set for 2009 proved to be very low. Eximbank’s board of management submitted to the shareholders’ meeting a plan to obtain the pre-tax profit goal of VND1,500bil in 2009 (the figure was VND969bil in 2008). The [...]
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March 19, 2009
The central bank said Wednesday that commercial banks could not use derivatives to trade dollar/dong on the interbank market at rates outside the official trading band and it said offenders would be punished. In an announcement posted on the State Bank of Vietnamâs website, governor Nguyen Van Giau told inspectors to step up monitoring of [...]
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