The Government has issued Decree No. 359/2026/ND-CP dated September 17, 2026 on the establishment, organization, operation and financial mechanism of the Vietnam Asset Management Company of credit institutions (Asset Management Company).
The Decree stipulates that the State Bank of Vietnam shall establish an Asset Management Company to handle bad debts and promote reasonable credit growth for the economy.
Asset Management Company is a special enterprise, organized in the form of a one-member limited liability company, 100% owned by the State and subject to state management, inspection, and supervision by the State Bank.
The Asset Management Company operates according to the principles: Revenue compensates for expenditure and not for profit purposes; publicity and transparency in bad debt purchase and handling activities; limiting risks and costs in bad debt handling.
Borrowers who have bad debts sold to the Asset Management Company and have feasible production and business plans, investment projects are further considered by credit institutions and foreign bank branches, granting credit according to agreements and legal regulations on credit granting activities of credit institutions and foreign bank branches and related legal regulations.
Method of Asset Management Company buying bad debts of credit institutions, foreign bank branches
Asset Management Company is allowed to purchase bad debts of Vietnamese credit institutions at market value or purchase them with special bonds, and is allowed to convert bad debts purchased with special bonds into bad debts purchased at market prices.
The Asset Management Company is allowed to purchase bad debts of joint venture credit institutions, 100% foreign-owned credit institutions, and foreign bank branches at market value.
The charter capital of the Asset Management Company is 5,000 billion VND.
The additional investment in charter capital of the Asset Management Company is decided by competent authorities in accordance with the law on management and investment of state capital in enterprises.
The Asset Management Company has its headquarters in Hanoi city and is established with branches and representative offices in some major provinces and cities directly under the Central Government after being approved by the State Bank.
The management apparatus of the Asset Management Company includes the Members' Council, the Supervisory Board and the General Director.
The Member Council includes no more than 7 members. The Supervisory Board includes no more than 3 members.
The Asset Management Company has a General Director and a number of Deputy General Directors.
The Governor of the State Bank appoints and dismisses the Chairman and members of the Member Council; Head of the Board and members of the Supervisory Board; General Director and Deputy General Directors of the Asset Management Company.
