Sacombank to recoup 20 trillion VND of bad debts in 2017
Sacombank aims to tackle 20 trillion VND (880 million USD) of bad debts in 2017, with the bank taking drastic measures to implement a restructuring scheme, said its chairman Duong Cong Minh.
A transaction at Sacombank. The bank aims to tackle 20 trillion VND (880 million USD) of bad debts in 2017 (Photo: VNA)
Hanoi (VNA) – The Sai Gon Thuong Tin Commercial Joint Stock Bank(Sacombank) aims to tackle 20 trillion VND (880 million USD) of bad debts in2017, with the bank taking drastic measures to implement a restructuringscheme, said its chairman Duong Cong Minh.
Minh believed that bad debt settlement will be effective due to upbeat signs inthe property market, the National Assembly’s legal provisions for bad debts andthe bank’s restructuring project.
The bank’s profit before taxes was estimated at 428 billion VND (18.8 million USD)in the first half of the year, up 70.4 percent year-on-year, according to thebank’s report. Its total assets stood at nearly 353 trillion VND (15.5 billion USD).
During the first six months, customer lending and capital mobilised fromindividuals and economic organisations exceeded 212 trillion VND (9.3 billionUSD) and 317 trillion VND (13.9 billion USD), up 10.1 percent and 9.7 percentfrom the outset of the year, respectively.
The bank tackled 845 billion VND (37.2 million USD) of non-performing loans inthe period and bought back 247 billion VND (10.9 million USD) in non-performingloans from the Vietnam Asset Management Company.
Chairman Minh shared the bank’s restructuring scheme, including shaking up bankorganisation and human resources and re-arranging transaction networks andbranches was based on the strategy “developing rural areas to support urbanzones”.
Last month, Sacombank held its annual general meeting of shareholders for thefiscal year 2015-2016. Minh was elected as Chairman of the Board of Directorsfor the term 2017-2021 and Nguyen Duc Thach Diem as Standing Director General.-VNA
Lawmakers elaborated the draft law on public debt management (revised) and another on foreign trade management during the ongoing third session of the 14th National Assembly in Hanoi on May 25.
Shares ended June 19 on a positive note as banks reacted to information that the new bad debt settlement resolution will likely be approved by the National Assembly this week.
Management agencies need to focus on financial and monetary policies besides long-term solutions such as restructuring the economy, reforming State-run businesses, and developing private economy.
Prime Minister Nguyen Xuan Phuc has taken action so that the National Assembly’s new resolution on bad debt settlement could be applied from August 15.
The central bank on July 21 held an online conference to prepare for the implementation of the scheme to settle non-performing loans (NPL) and restructure credit institutions in the 2016-20 period.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
A transaction at Sacombank. The bank aims to tackle 20 trillion VND (880 million USD) of bad debts in 2017 (Photo: VNA) 
