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SBV targets to keep bad debt under 3 pct
The central bank requested credit institutions to step up measures to ensure the safety of the banking system and facilitate the ongoing restructuring process.
The central bank started restructuring the banking system in 2011 to ensure the safety of the system, reducing the number of commercial banks to 34 from 42 through mergers and acquisitions.
The government also established the Vietnam Asset Management Company (VAMC) in 2012 to help banks offload non-performing loans or toxic debts from their books.
Before the end of this month, commercial banks will have to submit detailed plans to the SBV of how they intend to clean up bad debt, including selling non-performing loans to the VAMC, setting aside funds for risk provisions, removing soured assets and tightening lending requirements.
Bad debt in Vietnamese banks stood at 2.9 percent at the end of last year, significantly down from 3.7 percent the year before, according to the annual financial report by the National Financial Supervisory Commission.
With the aim of keeping inflation at 3 percent while maintaining economic growth of about 7 percent by 2020, the central bank has set a target of keeping bad debt below 3 percent of total outstanding loans.
Movies, zombies, Halloween changing Mexico's Day of the Dead
MEXICO CITY (AP) — Hollywood movies, zombie shows, Halloween and even politics are fast changing Mexico's Day of the Dead celebrations, which traditionally consisted of quiet family gatherings at the graves of their departed loved ones bringing them music, drink and conversation.Mexico's capital was holding its first Day of the Dead parade Saturday, complete with floats, giant skeleton marionettes and more than 1,000 actors, dancers and acrobats in costumes. Lourdes Berho, CEO of the… chat_bubble_outline Read More...
Realty stays balanced at the top-end
n spite of worries that the real estate market in Vietnam is revealing imbalances between high- and mid-end accommodation, experts say such concerns are overblown. Though the real estate market may seem unbalanced, experts say it is progressing well Economic expert Le Ba Chi Nhan said that the real estate market of Vietnam should be seen in a broader view, not limited to contrast in affordability.“The real estate market of Vietnam, especially the high-end segment, still remains attractive for… chat_bubble_outline Read More...
Three Turkish soldiers killed in Islamic State attack in Syria's al-Bab: sources
ISTANBUL (Reuters) - Three Turkish soldiers were killed and seven others wounded in an Islamic State attack in Syria's al-Bab region, security and hospital sources in Turkey said on Thursday.After the attack, during a Syrian rebel offensive backed by the Turkish military, the wounded soldiers were transferred to hospitals in the Turkish border provinces of Kilis and Gaziantep, sources said.(Writing by Humeyra Pamuk; Editing by Daren Butler) World - Yahoo News chat_bubble_outline Read More...
A pure gem of Lao Cai
In the tourist frequented town of Sapa in Lao Cai Province in northwestern Vietnam, visitors are recommended to drop by Ta Van, a valley at the foot of Hoang Lien and Ham Rong mountain ranges, around seven kilometers from the center of town. A striking view of Ta Van Valley Tranquil and peaceful are among the few adjectives that can be used to describe Ta Van. This is a typical mountainous village in the country’s northwest.Ta Van Village has cool weather all year round, and striking… chat_bubble_outline Read More...
Pentagon wraps up helicopter relief ops in Haiti
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