5:01:41 PM | 8/10/2008
The highest bad debt ratio seen in a Vietnamese bank is estimated at 4.5 per cent, said Le Xuan Nghia, head of central bank’s Banking Development Strategy, at the Vietnam Economic Forum.
The bank has the lowest bad debt ratio at 0.18 per cent in accordant to Vietnam’s accounting standards, Nghia said at the event, titled “Stabilizing the macro economy - Challenges and Solutions” held in Hanoi October 4.
High bad debts are often seen in commercial banks, some of which have applied international accounting standards.
“Quality of assets among commercial banks at present is much better than that of five to seven years ago,” he said.
Net profits of foreign banks and joint stock banks are estimated to growth 6 per cent-7 per cent this year, and of state-owned banks at 13 per cent-14 per cent, Nghia said. (Pioneer)
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