VAMC issues $20m in bonds

Thursday, Nov 14, 2013 14:59

Viet A Bank has been issued with more than VND 87.6 billion ($4.17million in bonds for their bad debts from VAMC.— Photo

HA NOI (Biz Hub) — Viet Nam Assets Management Company (VAMC) issued more batches of special bonds worth VND420 billion (US$20million) to buy debts from three commercial banks on November 13.

Accordingly, VAMC provided Technical Commercial Bank (Techcombank) with bonds worth VND234.6 billion ($11.17million), Sai Gon- Ha Noi Bank (SHB) with VND97.8 billion ($4.56million), and Viet A Bank with more than VND 87.6 billion ($4.17million).

The bonds are for five years at zero per cent interest rate. The bonds date from November 15

Last month, state-owned VAMC began efforts to solve problems in the domestic banking sector by buying bad debts from commercial banks.—VNS

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