Vietnam Asset Management Co (VAMC) said it plans to auction bad debts worth 390 billion dongs ($18.4 million) this month, the Thanh Nien (Young People) newspaper reported.
The central bank-run VAMC had bought non-performing loans worth 47.4 trillion dongs ($2.24 billion) from banks as of May, the report said. The auction, if held, would be the first of its kind since VAMC’s debut in July 2013.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. ($1=21,180 dong) (Hanoi Newsroom; Editing by Subhranshu Sahu)