State Bank works on credit organisation restructuring project
The State Bank of Vietnam (SBV) has announced that it is finalizing a project on restructuring credit organisations and handling bad debt for the 2016-2020 period, to be submitted to the Politburo.
Hanoi (VNA) – The State Bank of Vietnam (SBV) has announced that it isfinalizing a project on restructuring credit organisations and handling baddebt for the 2016-2020 period, to be submitted to the Politburo.
Afterthe project receives approval, the SBV will develop plans to implement measuresas set out in the project.
Accordingto the SBV, besides improving the safe level of credit organisations, the SBV willfocus on enhancing efficiency and effectiveness of state management anddiscipline in the field, as well as intensifying the fight against lawviolations in monetary and banking fields.
Thecomprehensive restructuring across financing, operation and governance ofcredit organisations will be accelerated using methods and roadmaps suitablewith specific characteristics of each credit organisation.
Handlingbad debt will be accompanied by preventive measures in order to minimize newbad debt.
In2017, the asset management company (VAMC) will play a greater role in handlingbad debt to maintain the rate of bad debt at the safe level (below threepercent of the total outstanding loans).-VNA
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