Credit institutions in Viet Nam settled more than VND204.4 trillion (US$8.77 billion) of non-performing loans (NPLs) by the end of Q1 2019. — VNA/VNS Photo Credit institutions in Viet Nam settled more than VND204.4 trillion (US$8.77 billion) of non-performing loans (NPLs) by the end of the first quarter this year, said Nguyen Thi Hong, deputy governor of the State Bank of Viet Nam (SBV). The bad debts accounted for 40.1 per cent of the total, Hong said. SBV reports also showed banks handled VND149.22 trillion (US$6.37 billion) of NPLs last year. SBV will focus on bad debt settlement this year to reduce the NPL ratio of the entire banking system, including NPLs sold to the VAMC, from 6.6 per cent at the end of 2018 to below 5 per cent by the end of this year. The development strategy for the banking sector to 2025, approved in August last year, also targets reducing the ratio of bad debts to below 3 per cent of outstanding loans by 2020. To meet the target, SBV governor Le Minh Hung has asked credit institutions to review and provide detailed roadmaps and solutions for settling their bad debts each year until 2022. Credit institutions… Read full this story
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