From August 2017 to August 31, 2019, credit institutions settled VNĐ236.8 trillion (US$10.16 billion) worth of non-performing loans (NPLs). VNA/VNS Photo HÀ NỘI The banking sector had made considerable headway into settling bad debt, restructuring credit institutions and developing the banking system two years since the National Assembly issued a resolution on the industry. The statement was made by SBV Deputy Governor Nguyễn Kim Anh last week during a teleconference to review the implementation of the National Assembly’s Resolution No 42/2017/QH14 on the settlement of credit institutions’ bad debts. Specifically, the bad debt ratio among credit institutions had been maintained below 2 per cent. From August 2017 to August 31, 2019, credit institutions settled VNĐ236.8 trillion (US$10.16 billion) worth of non-performing loans (NPLs), or VNĐ9.6 trillion per month, well above the VNĐ4.7 trillion per month settled in the 2012-17 period. Nguyễn Văn Du, chief inspector of the SBV’s Banking Inspection and Supervision Agency, said from last year to August 31, SBV conducted nearly 2,300 inspections and issued conclusions for 2,100, asking credit institutions to correct their mistakes or warning of risks to the banking system. The total assets of credit institutions reached VNĐ11.81 quadrillion by the end of August, up 6.7 per cent against 2018. They offered loans… Read full this story
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