These bad debts will be purchased according to market value. Their mortgages are real estates, machines and equipment in Da Nang and HCMC.
The two sides yesterday signed a cooperation agreement on handling bad debts and asset backlog. According to the agreement, Sacombank and VAMC will work together to build a roadmap to handle debts every year.
Sacombank will propose the list of bad debts which will be sold to VAMC through special bonds and those which will be traded according to market value.
This year, they have set a target of tackling VND15-20 trillion of deep debts. Of these, at least VND1 trillion will be traded according to market value.