Bank offers debt for sale at only 2,000 dong

VietinBank, the Commercial Joint Stock Bank for Industry and Trade of Vietnam, is announcing the sale of 498 consumer debt accounts for debt recovery purposes.

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Specifically, the bank announces the sale of 498 debts with a total value of 9.64 billion VND. Among them, the highest value debt is 188.4 million VND and the lowest value debt is 2,781 VND. All of these debts do not have any collateral.

The starting price does not include any costs related to the transfer of ownership/use of assets and other costs (if any) when purchasing the debt. These costs will be borne by the winning bidder.

The bank will sell each debt, some debts, or all debts.
VietinBank will select the highest bidder and no lower than the starting price for each debt.

Illustrative photo: Government Newspaper

Previously, VietinBank also announced many large-value debts, including the debt of Vo Thi Thu Ha Trading Import Export Company Limited.

The total outstanding debts (principal, interest within the term, overdue interest) of Vo Thi Thu Ha Trading Import Export Company Limited at VietinBank have a value of 1,508 billion VND, including a principal debt of 567 billion VND, within-term interest debt of 633 billion VND, and overdue interest of 307 billion VND.

The starting auction price for this debt is 142 billion VND.

The collateral for this debt includes 5 land use rights and assets attached to the land in Phuoc Thanh Town, Chon Thanh District, Binh Phuoc Province, 4 land use rights and assets attached to the land in Tan An Ward, Thu Dau Mot City, Binh Duong Province.

In addition, the collateral assets also include 4 warehouses, construction works, machinery, and equipment in Dong Thap Province (Thu Ha Lap Vo warehouse and Hoa Tan Loc warehouse in Lap Vo District, Dong Thap Province; A warehouse and B+C warehouses in Sa Dec City, Dong Thap Province) and pledged goods according to collateral contracts based on purchase and sale contracts, invoices, and warehouse entry slips.

VietinBank also auctions for the second time the debt of Ben du thuyen Joint Stock Company. The total outstanding debt as of January 16, 2024 is 646.4 billion VND, including a principal debt of 485 billion VND and interest debt of 160 billion VND, within-term interest of 155 billion VND and penalty interest of 5.1 billion VND.

The starting auction price for this debt is 698 billion VND, reduced by 10% compared to the initial auction price on January 16, 2024.