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Sai Gon-Ha Noi Bank is one of 15 banks that sell their debts to VAMC.— Photo Dantri.com.vn
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HA NOI (Biz Hub) — Viet Nam Assets Management Company (VAMC) issued VND30.4 billion (US$1.44 million) worth of special bonds to buy bad debts from Sai Gon-Ha Noi Bank (SHB).
The five-year bonds will be effective from November 13 with an interest rate of zero per cent. On October 14, VAMC issued bonds worth VND 74.65 billion($3.55 million) for SHB.
Launched in July to purchase bad debts from the banking sector, VAMC bought over VND12.4 trillion (US$591.9 million) in non-performing loans from 15 commercial banks by November 10 and is expected to buy around VND30-35 trillion ($1.42-1.66 billion) more by the end of this year— VNS