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8 listed banks hold $731.7 mln bad loans
Eight commercial banks listing shares at the Hanoi Stock Exchange and Ho Chi Minh Stock Exchange have posted bad loans worth VND15 trillion (US$731.7 million) in the first nine months of the year, according to their financial reports.
They include Asian Commercial Bank, Vietinbank, Eximbank, Habubank, Nam Viet Bank, Saigon Hanoi Bank, Sacombank and Vietcombank.
Bad loans account for 2 percent of their total outstanding loans, newswire VnExpress reported.
Of these, bad loans considered to be irrecoverable are around VND8.29 trillion, amounting to 55 percent of the total debts.
Vietcombank had the highest rate of bad loans among the eight, with 3.9 percent of its loans categorized as bad loans, or an estimate of VND7.38 trillion.
The figure last year was only 2.8 percent.
ACB and Vietinbank also saw rapid increases in their bad loans, with the rates rising by 2 and 3.7 times to around 1.4 and 1.5 percent of total loans.
The two’s total bad debts topped VND4.8 trillion.
The other five banks’ bad debts account for 0.6 to 2.8 percent of their total loans, with Sacombank posting the lowest rate of 0.6 percent, or an equivalent of VND460 billion.
Though bad loans have increasingly become a worrying issue for banks, all of the eight have posted whopping profits in the first three quarters of this year.
Vietcombank tops the list with VND3.3 trillion in profit, which is a 6-percent growth year on year.
Eximbank enjoys the highest profit growth rate of 65 percent, earning a VND2.1 trillion profit, while Habubank is the only to have its profits reduced by 6 percent compared with last year.
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