Banks boosted lending in retail segments in H1, causing a rise in bad debts. (Photo zing.vn) – Though many banks have posted positive profits in the first half of 2019, their bad debts have continually increased in the wake of high credit growth in risky business segments. Latest financial statements of 21 banks showed their total non-performing loans (NPLs) rose by nearly 7 trillion VND (300.4 million USD) against the beginning of this year to nearly 85.75 trillion VND by the end of June. Of the total NPLs, subprime debts had the highest growth of 22 percent while potentially irrecoverable debts increased by 5.2 percent, data on vneconomy.vn showed. In Vietnam, debts are classified into five groups based on their risk status: Standard Debt, Debt Needing Special Attention, Subprime Debt, Doubtful Debt, and Potentially Irrecoverable Debt. Regarding the bad debt value, the Bank for Investment and Development of Vietnam (BIDV) had the highest rise in the period with a more than 2.3 trillion VND increase against the beginning of last year. However, regarding the ratio of NPLs of total outstanding loans, the National Citizen Bank (NCB) topped the list with the ratio up from 1.67 at the beginning of the year to 2.75… Read full this story
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