7,000 billion debt, VAMC seized the assets of Saigon One Tower

Today 21/8, VAMC, conducted seizure of assets guaranteed by the Saigon joint stock company One Tower aims to handle debt collection, according to the provisions of the law. Earlier, VAMC has signed a contract to buy debt with some credit institutions with regard to debt of client groups include: the Saigon joint stock company One Tower (formerly Sai GON real estate joint stock company M&C); The broadcasting Venture investments joint stock company; INVESTMENT ADVISORY company and Intelligent Force XD; Superdeck M&C Front company with the total debt (principal and interest) to the present time was up on the 7,000 billion.

7,000 billion debt, VAMC seized the assets of Saigon One Tower
Although VAMC has repeatedly writing to urge, work and request the above mentioned customer groups made the repayment obligation. However the customer does not perform well and does not have to repay the feasibility. Therefore, the requested VAMC Saigon joint stock company One Tower handing the secured property to perform the secured obligations with regard to the full obligations of the client including the Saigon joint stock company One Tower, the Broadcasting Union investment company, phone and TV company, the Ming Army XD , Superdeck Front joint stock company M&C. To date, Saigon joint stock company One Tower still does not make the transfer of the property.

VAMC asked Saigon joint stock company One Tower handing the secured property to perform the secured obligations with regard to the full obligations of the customers (VNN photo). So, VAMC deployed capturing secured property as investment projects of building complex of Saigon M&C at address 34 ton Duc Thang, District 1, HO CHI MINH CITY to handle in order to recover the debt. The process of capturing already adhere the sequence stipulated in article 7 of the 42 congressional resolutions about the treats pilot bad debt of the credit organization. In the process of capturing, VAMC received positive coordination of the competent authorities as well as local authorities. The process of capturing the secured property took place smoothly and in accordance with the provisions of the law.

Determining this is massive debts, the VAMC made capturing the secured property will contribute to the effective implementation of resolution No. 42 to handle quickly, scoring the secured assets and bad debt of bad debt in the scope of the resolution 42, being alert to the customers who have bad debt to enhance the customer's repayment for VAMC is also as TCTD. Information from the State Bank said, this is the first loan that carried VAMC seized the first guaranteed assets under resolution 42.

Buy back bad debt from the VAMC to handle, the profit still increase 25%

While many credit institutions with bad debt "crisis" then this bank buy bad debts from the VAMC to handle and still ensure credit growth 15.7% compared to the end of the year 2016, profit before tax increased by 25% over the same period. Vietnam International Bank (securities code: VIB) recently announced the results of operation 6 months beginning in 2017, the total assets of the Bank has increased by 10% after the second half of the year, exceeded 115,000 billion. Outstanding credit reached 75,686 billion, up 15.7%, of which the outstanding loans to customers reached 69,205 billion. Credit growth came largely from personal customers with loan growth of more than 30% compared with the end of 2016. Mobilize customers also rose 15%, respectively.

The rate of bad debt last June to 2.59 level VIB%, while still continuing to buy back the bonds from the VAMC to handle debt collection. Accumulated debt, acquired from the VAMC to process captured near 50% of the original balance was sold to the VAMC. Banks are lending rate on mobilization (LDR) reached 69%, and the rate of short-term capital for medium and long-term loans at the rate of 46%. About business results, the Bank's pre-tax profit reached 380 billion, an increase of 25% compared with the same period of the previous year, reaching 51% of the plan. VIB is expected to exceed profit plans in the year 2017.

Revenue growth in most of the major items: net interest income increased 23%, net margin from 54% increase in service activities. The quality of loan portfolios are in good control, along with processor speed bad debt quickly helped the reserve cost risks shrank 29% compared with the same period a year ago, improving the profitability of the Bank. In recent years, VIB is one of the commercial banks in dividend rate group. In 2014, the dividend rate is 9% in cash and 14% by the bonus shares. The year 2015, the proportion of share is 8.5% 16.5% in cash and stock bonuses. In 2016, the Bank has completed its split into 5% cash dividends on 5/7/2017, and will soon publish information about plans to pay bonus shares.

For the banking system, the cash dividend and the stock must have the approval of the State Bank, based on controlling the bad debt ratio below 3%, as well as the transparency and effectiveness of each bank as mandatory criteria. Recently, the Bank of the Commonwealth Bank of Australia (CBA) and VIB had strategy discussions on strengthening business cooperation between the two banks in Vietnam in the next phase, the two parties continued with the signing of a new agreement on the exchange of capacity with the duration of 3 years.

At the same time, the two sides also signed an agreement on the transfer of the entire operations of the subsidiary CBA SAIGON about to VIB. According to the agreement, delivery of the entire customer base, staff, location of business, CBA's ATM system will be continued in service, management and development by VIB. This is also the first domestic bank to buy the entire business operations branch of a foreign bank in Vietnam.

Not the buy back bad debt from the VAMC but also "good processing"!

This is the first joint-stock Bank on the market made to buy back bad debt from the VAMC to handle, and the debts were acquired not only have good processing results which the Bank's bad debt rate is also low 2.19%, reduced risk of preventive costs 8% over the same period. International Bank (VIB) recently announced the results of operations of the quarter of 2017, according to which the profit was 126 billion, a 14% increase compared with the same period a year ago.

Revenue growth in most of the items: 16% increase in net interest income, net interest from service activities increased 31% and revenue from the sale of investment securities rose 21%. Private foreign exchange trading activities decreased due to unfavorable market conditions. The quality of the loan portfolio is good, control is secured by the property value. VIB is the first joint-stock banks to buy back bad debt from the VAMC to handle. The end of the year 2016 VAMC debt purchases are good processing results caused the rate of bad debt fell from 2.58% late 2016 down 2.19 percent at the time of 31/3/2017. Reduced risk of preventive costs 8% compared with the same period a year ago.

After the first three months of the year 2017, table VIB's assets reached almost 106,000 billion, an increase of 1,400 billion, primarily from credit portfolios are a good development momentum. Debit balance reaching 73,400 billion (including corporate bonds), in which outstanding loans to clients rose 3,400 billion, 5.7%, respectively. In recent times, products and processes is one of the emphasis that this Bank is very importance to upgrade, with the non-stop to edit existing product categories, new product development, simplify the process to attempt to provide the products, competitive financial services to meet the needs of customers.

In the field of electronic banking, the Bank continues to be honored with the award of "best e-banking Vietnam 2016" (Best e-bank 2016) and "mobile banking application has the best customer experience Vietnam 2016" from Journal of The Asset given to mobile banking application MyVIB. This is also the first Vietnam Bank are The Asset of this prestigious award. Financial reports also show, capital mobilization of VIB is complemented in full in order to meet demand credit growth in the year 2017. In the quarter of 2017, VIB has increased more than 4,000 billion mobilized deposits include the certificate of deposit.

VIB leaders said, with the financial strength of the banks leading the market, safe high capital ratios should since last year 2016, when the Bank began issuing certificates of deposit to the market then this product has become a favorite investment for institutional clients and individuals with large financial resources. In addition, VIB has plans to raise capital through the issuance of bonus shares at the rate of up to 45%, and tier 2 capital release plans. After the capital increase to near 8,000 billion will give the Bank a new position on the scale of capital, as well as ready to meet the safety index of capital and liquidity for business activities. Under the plan, VIB will hold the 2017 annual meeting of shareholders the following week (on 27/4/2017) in Hanoi.

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