VietNamNet Bridge – In an effort to issue more credit cards, commercial banks loosened their requirements on card holders. And now they suffer from the easy requirements.

 The combined bad debts of BIDV, Vietcombank and Vietinbank reached more than VND23.1 trillion (US$1.1 billion) in the first half of the year, according to the composite mid-year financial report of the three leading commercial banks.

 VietNamNet Bridge – The Viet Nam Asset Management Company (VAMC) has been operating for nearly one month. However, investors still lack information about how the company will buy non-performing loans (NPLs) from banks.

 VietNamNet Bridge – If the inflation rate is curbed at 6.5 percent this year, the dong ceiling deposit interest rate would not go down to below 7 percent per annum as expected by businesses.

 CBU car imports down in July; Bloomberg highlights Vietnam’s edible bird spit industry; VietJet Air signs technical deal with German company; Footwear sector cashes in on bulk orders

 VietNamNet Bridge – Vietnam turns out to be not a good land for many bank foreign CEOs. Many of them have to leave after a short time in Vietnam, ceding their positions to Vietnamese.

Finance reports released by commercial banks showed that their bad debt ratios have fallen down to below 3%. This spells that the Vietnam Asset Management Company VAMC, established to help set banks free from bad debts, will have no job to do.

 Domestic powdered milk firms buoyant; Banks yet to give gold custody services; City builds special zone for Japan engineering SMEs; Bank restructuring takes center stage at M&A forum

 VietNamNet Bridge – A lot of banks have affirmed that they are willing to sell bad debts to the Vietnam Asset Management Company (VAMC). However, no official deal has been made so far, since banks still “listen to the news.”

 VietNamNet Bridge – While some banks have obtained high credit growth in recent months, others are still struggling to boost lending to meet this year’s credit growth targets.

 Vietnam ships over 4 million tonnes of rice; Foreign investors keen on new localities; Vietnamese honey gets export permission to EU; State bank raises price of US dollar

 VietNamNet Bridge – Many of the 12 commercial banks licensed to hold properties in trust still have not begun providing services. Meanwhile, the banks willing to provide the services are not allowed to do this.

General Director Nguyen Huu Thuy told Bloomberg that VAMC will give priority to purchase debts of the banks with the highest bad debt ratios and the debts that are guaranteed by real estate. The first transactions will be done in the next two weeks.

 VietNamNet Bridge – Unable to clear inventories to get money for debt payment, a lot of debtors have to pay in their shares.

 VietNamNet Bridge – Many major commercial banks are making efforts to seek foreign strategic partners to sharpen their competitive edge, according to a report in Dau Tu (Investment) newspaper.

 VietNamNet Bridge – More than a half of commercial banks think the bad debt ratio would be unchanged or would be increasing by the end of 2013 in comparison with the end of 2012.

 VietNamNet Bridge – Commercial banks have made a volte face, refusing to buy government bonds because the offered interest rates are lower than their expected levels.

 Food producers find ray of hope in byproducts; TKV says higher tariff hinders coal export; Cai Mep-Thi Vai port to be leased in 30 years; One-fifth of firms eye expansion

 Vietinbank targets capital of over 1.7 billion USD; Banks see profit targets beyond reach; DHG transfers brand to Thai partner; Accenture suggests solutions to raising port efficiency

VietNamNet Bridge – A lot of banks have bogged down in bad debts and poor liquidity. However, they are believed to have great potentials in the long run. Therefore, they still can attract big investors.