Banking-finance

VAMC buys nearly VND21 trillion deep debts

SGGP
Vietnam Asset Management Company (VAMC) purchased VND20,995 billion (US$924 million) of deep debts from credit institutions during the first nine months this year with the price of VND20,619 billion.
According to the State Bank of Vietnam (SBV), VAMC has bought VND26,100 debts worth VND296 trillion ($13.03 billion) of 16,200 customers at 42 credit institutions with the price of VND266.5 trillion since 2013.
SBV said that it would continue synchronously implementing monetary and banking activity solutions to ensure macroeconomic stabilization and assist economic growth.
Of these, the bank will focus on stabilizing interest rate and strive to reduce loan interest rate.


By CHE HAN – Translated by Hai Mien

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