Assessing the result of bank restructuring and write off bad debts

On 6th October 2015, the VNU University of Economics and Business (UEB) coordinated with Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) held the conference on “Assessing the result of bank restructuring and write off bad debt”. The conference aimed at assessing the results of bank restructuring pursuant to international practices and focus on clarifying the facts that handling of bad debts requires efforts of many parties, including the state bank, court, law enforcement agencies, commercial banks, debtor, VAMC and relevant management agencies.

The conference concurrently summarized international experiences, legal aspects and techniques to create the most favorable conditions for the settlement bad debts of the banking system.
The conference attracted more than 200 participants, including representatives from management agencies and policy makers, leading experts in finance and banking, representatives of some commercial banks and university, institute of economic management, Deputy Governor of State Bank, Assoc.Prof.Dr. Nguyen Kim Anh.
Chairing the conference are Assoc.Prof.Dr. Nguyen Hong Son - Rector of the VNU University of Economics and Business and Mr. Pham Huyen Anh - Deputy Chief Inspector of State Bank of Vietnam.

Assoc.Prof.Dr. Nguyen Hong Son - Rector of the UEB delivered openining speech at the conference

Deputy Governor of State Bank, Assoc.Prof.Dr. Nguyen Kim Anh.

At the conference, 4 presentations are presented by senior experts in the field of finance and banking, naming different fields of: evaluation of the results of restructuring Vietnam Commercial Banks based on normal international practices presented by Dr. Can Van Luc - Senior Advisor to the Chairman of BIDV and Director of BIDV training school; analysis of the factors affecting bad debts based on the econometric results using data of 8 Commercial Banks presented by Assoc.Prof.Dr. Tran Thi Thanh Tu - Dean of the Faculty of Banking and Finance, UEB; the difficulties and advantages of VAMC when writing off bad debts of the banking system presented by Dr. Nguyen Quoc Hung - Chairman of VAMC; international experiences on handling bad debts through model of asset management company presented by Dr. Le Thi Thanh Tam - Dean of the Faculty of Commercial Banks, Financial Bank Institute, University of National Economics etc.

Presentation of Dr. Can Van Luc

 Dr. Nguyen Quoc Hung presented on topics on handling bad debts

Dr. Le Thi Thanh Tam handling bad debts through model of asset management company

Assoc.Prof.Dr. Tran Thi Thanh Tu - Dean of the Faculty of Banking and Finance, UEB

Representative of VietinBank shared experiences in handling bad debts in VietinBank

The presentations received argumentations from experts in the field of banking and finance, including Dr. Ha Huy Tuan - Vice President of National Finance Supervisory Commission, Assoc.Prof.Dr. Dao Van Hung - Director of Institute of Development Policy (Ministry of Planning and Investment), Dr. Nguyen Thanh Huong - Former Director of the Finance and Accounting Department of State Bank.
The conference also received various comments and opinions from scholars, practical experts, policy makers in the field of banking and finance, including Mr. Truong Dinh Tuyen - Former Commerce Minister, Mr. Le Dang Doanh, Mr. Bui Ngoc Son, Mr. Nguyen Quang Thai, Mr. Nguyen Quang etc. focusing on ideas and experiences on restructuring of the banking system and write off bad debt in Vietnam and around the world.

The conference received comments and sharing from experts and participants

From the experts’ opinion, in recent years, the process of restructuring banking system in Vietnam has followed the right direction of normal international practice, however, we need to continue deploying synchronous measures to control bad debt, strengthen close coordination with relevant agencies to ensure the process of restructuring the banking system on three economic sectors: Business, Industry and Agriculture Investment Restructuring.
Concerning operation of the VAMC, the experts agreed that the operating model of the VAMC has been effective in supporting the financial institutions in handling bad debts, brought substantial benefits for the State, customers and credit institutions. However, operation of VAMC has also encountered difficulties in debt structure, seizing and selling off the assets as well as debt collection. Therefore, in order to enhance efficient operation of VAMC, it’s needed to quickly build a legal framework to handle debts.
At the conference, participants also shared information, contributed and proposed recommendations for state authorities, commercial banks to successfully implemented the key tasks of the project “Restructuring Credit Institutions 2015-2020”. The recommendations from the conference will help the banking supervision of the State Bank in management and supervision of the banking system in Vietnam.
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