Bad debt to reach 3 percent in September

Bad debts are expected to be below 3 percent year-end -Photo: VNS

The Vietnam Asset Management Company (VAMC) said in the beginning 8 months of 2015, VAMC has bought up VND 77,273 billion bad debt from credit institutions worth VND 70,554billion.

As a result, Mr Nguyen quoc Hung, Chairman of member council said bad debt ratio in banking system so far has reached over 3 percent. It is expected to gain from 3 to below 3 percent on September 30.

Besides, VAMC has continued cooperating credit institutions to review debts for clients. In the first 8 months of 2015, VMAC treated VND 8,000billion bad debts, almost double the increase from last year.

H.Yen –Translated by M.Quyen

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