Vietnam banks bad debts rise again after record low

By T. Xuan, Thanh Nien News

Email Print

A file photo of staff counting notes at a bank in Hanoi. Photo: Ngoc Thang A file photo of staff counting notes at a bank in Hanoi. Photo: Ngoc Thang

RELATED NEWS

Banks’ bad debts ratio increased to 2.62 percent at the end of March after hitting a five-year low of 2.55 percent at the end of last year, according to new data from the State Bank of Vietnam.
Separate reports by top lenders too showed higher bad debt ratios in the first quarter, though they were below the 3 percent threshold set by the central bank.
Vietinbank's bad debts were estimated at 0.96 percent at the end of March, compared to 0.92 percent three months earlier. BIDV’s were up to 1.8 percent from 1.67 percent.
Eximbank, which is being monitored after reporting losses for the last two years, saw a jump of 0.93 percentage points to 2.78 percent.
The central bank's new figures also showed that lenders' assets rose by 2.53 percent to more than VND7,500 trillion (US$335.94 billion).
Finance companies reported the highest asset growth of 9.75 percent, followed by foreign-owned banks with 8.09 percent.
The assets of state-owned giants like Agribank, BIDV and Vietinbank saw the lowest rise of 0.97 percent.

More Business News