According to the data from Vietnam Asset Management Company (VAMC), in 2018, this institution has helped the four banks including Vietnam Joint Stock Commercial Bank of Industry and Trade (Vietinbank), Vietnam Bank for Agriculture and Rural Development (Agribank), Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Saigon Thuong Tin Joint Stock Commercial Bank (Sacombank) to handle 32.399 trillion dong of bad debts according to the Resolution 42.
In 2018, VAMC signed a cooperation agreement with BIDV, Sacombank, Agribank and Vietinbank to proceed bad debt handling according to the Resolution No. 42/2017/QH14. The results of the agreements include the following:
Firstly, buying debts with special bonds reached15.551 trillion dong (accounting for 52.2 percent of VAMC’s special debt purchase value in 2018); buying debt at market value reached 1.967 trillion dong (accounting for nearly 70 percent of VAMC’s total value of debt purchase in 2018).
Secondly, debt recovery for debts purchased with special bonds reached 11.38 trillion dong (accounting for 33.77 percent of total debt recovery for debts purchased with special bonds of 2018 of VAMC); debt recovery for debts purchased at market value reached 3.501 trillion dong (accounting for 98.67 percent of total debt recovery for debts purchased according to market value in 2018 of VAMC).
Thirdly, VAMC debts successfully auctioned in 2018 were all debts purchased from Agibank (Viet Thuan Thanh Company Limited, Phu My Vinh Investment and Construction Joint Stock Company) and BIDV (Kim Son Construction Materials Production Joint Stock Company, Viet Toan Joint Stock Company).
In addition, accumulated from 2013 to 31st December 2018, VAMC made special bond payments for 42 credit institutions with a total face value of 149.303 trillion dong.
Particularly in 2018, VAMC paid for 31 credit institutions with 8.232 special bond codes, total par value of 70.827 trillion.
Besides, with the function of being a tool to handle bad debts of the State, VAMC has supported credit institutions with other operations such as completing legal procedures of security assets and debts; coordinating and supporting to find investors to sell security assets; supporting credit institutions to initiate lawsuits; supporting credit institutions to urge and recover debts from customers.
VAMC also supports credit institutions to supplement authorisation, pay special bonds, issue security asset sales invoices, and certify refinancing loans based on special bonds of VAMC.
Not to mention, VAMC directly handles a number of procedures related to lawsuits and proceedings for over 100 cases; promptly provides information and records related to customers who buy debts for competent authorities when required; supplements the content of authorisation for credit institutions to handle security assets; initiates lawsuits to speed up bad debt handling.
