Nearly VND39 trillion worth of bad debts bought by VAMC

Vietnam Asset Management Company (VAMC) announced that it bought VND38.9 trillion worth of original bad debts at a cost of VND32.4 trillion of its special bonds from 35 credit institutions by the end of 2013.

Thus, after starting to buy bad debts for three months, the company completed its target to purchase VND30-35 trillion worth of bad debt by special bonds.

Along with purchasing bad debts, the company also began to classify, review, and restructure debts and help businesses who have bad debts to overcome difficulties.

Currently, VAMC has sold around VND10 billion worth of bad debts.

By Bao Minh - Translated by Thuy Doan

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