CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
VAMC deposits over US$790 million in banks
Ngoc Thuy 11:36, 2018/05/08
Vietnam Asset Management Company (VAMC) is reported to have deposited VND18 trillion (US$790 million) in banks, said its recent financial statement in 2017.
Specifically, the majority is in blocked accounts of credit institutions, which stood at VND17.2 trillion (US$756 million); VND657 billion under time deposit at BIDV (VND85 billion or US$3.73 million), Agribank (VND160 billion or US$7 million), LienVietPostBank (VND134 billion or US$5.9 million), Ban Viet Bank (VND100 billion or US$4.39 million), and Saigon Bank (VND200 billion or US$8.79 million).
 
​VAMC deposits over US$790 million in banks.
​VAMC deposits over US$790 million in banks.
The remaining VND49 billion (US$2.15 million) is in demand deposit. As at December 31, 2017, VAMC's total assets worth reached VND204 trillion (US$8.96 billion), down 2.4% compared to the previous year. 

The majority of VAMC's assets is debt purchase at VND183.2 trillion (US$8.05 billion), down VND11.5 trillion (US$505.4 million) or 5.9%, in which debt purchased by special bond is VND182.6 trillion (US$8.02 billion), down VND12 trillion (US$527.4 million) or 6.2%. 

Additionally, debt purchased by other financial means stood at VND532 billion (US$23.3 million).

VAMC's equity by the end of 2017 is estimated at VND2.05 trillion (US$90 million), 4 times higher than the previous year, mainly due to VAMC's increase charter capital from VND500 billlion (US$21.9 million) to VND2 trillion (US$87.9 million).

Total payable debt of VAMC is posted at VND201.9 trillion (US$8.87 billion), down 3.1%, in which the majority is the issuance of special bonds at VND182.6 trillion (US$8.02 billion). Moreover, VAMC also has to pay debt of VND17.2 trillion (US$755.9 million) through debt purchase. 

In 2017, VAMC posted profit at VND20.4 billion (US$896,000), up 39% compared to 2016. 

Since the beginning of 2018, VAMC has stepped up effort in auctioning bad debts from banks such as BIDV or SHB, with the initial value of VND 380 billion (US$16.7 million). These include properties in Binh Duong province from Tan Quoc Duy Steel Company, asset-based loan of Puzolan Gia Lai Cement Company at SHB and bad debts of Kim Son Building Material Production Company at BIDV. 

VAMC set 2018 target of purchasing bad debts from VND27 trillion - VND32 trillion (US$1.1 billion - US$1.4 billion) paid by special bonds; purchasing bad debts at market value of VND3.5 trillion (US$153 million); reclaiming bad debts of VND24.9 trillion (US$1.1 billion); reclaiming bad debts paid by special bonds and at market value of VND20 trillion (US$878 million) and VND4.9 trillion (US$215 million), respectively. 
Comments
Other news
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
16:49, 2025/01/06
Vietnam GDP expands by 7.09% in 2024
The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.
14:39, 2025/01/04
Vietnam stock market set to accelerate in 2025: Experts
Stable macroeconomic fundamentals, ongoing institutional reforms, and favorable monetary policies will be positive for corporate earnings.
16:31, 2025/01/02
Vietnam stock market aims for emerging status by 2025: Finance minister
By the end of 2024, the benchmark VN-Index reached 1,266.78 points, up 12.11% from 2023.
15:33, 2025/01/02
Vietnam set to extend VAT cut for six months
This measure is expected to accelerate the recovery of production and business activities, which will ultimately benefit the state budget and the economy as a whole.
21:29, 2024/12/31
Vietnam’s credit growth projected to expand by 16% in 2025
Growth must put operational safety first, and channel credit to productive business sectors, priority areas, and growth-driving industries.