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VAMC offers guaranteed assets of NPLs

Jun 18th at 14:00
18-06-2014 14:00:25+07:00

VAMC offers guaranteed assets of NPLs

Vietnam Asset Management Company (VAMC) has offered a list of ten guaranteed assets with about VND7.8 trillion or US$371.4 million, according to Thanh Nien Newspaper, citing the company's source.

The assets include projects such as a high building office, apartment blocks, hospitals, warehouses and industrial parks in HCM City, Da Nang and Hai Phong coastal cities, and northern Hai Duong province.

The company will launch an auction to sell non-performing loans (NPLs) totally worth VND390 billion or $18.57 million and give the authority to a number of credit institutions to resolve the problem of around VND500 billion or $23.8 million in bad debts.

From early this year to the end of May, VAMC had bought more than VND6 trillion ($285.7 million) of NPLs from 13 credit institutions, bringing the total to VND47.4 trillion or $2.257 million.

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