Non performing loans in vietnamese commercial banks,graduation thesis

STATE BANK OF VIETNAM BANKING ACADEMY OF VIETNAM FACULTY OF FOREIGN LANGUAGES  GRADUATION THESIS NON – PERFORMING LOANS IN VIETNAMESE COMMERCIAL BANKS Student : Nguyen Thi Kim Dan Class : ATCB – K16 Student ID : 16A7510034 Supervisor : Mrs Can Thuy Lien (M.A) Hanoi, 2017 STATE BANK OF VIETNAM BANKING ACADEMY OF VIETNAM FACULTY OF FOREIGN LANGUAGES  GRADUATION THESIS NON – PERFORMING LOANS IN VIETNAMESE COMMERCIAL BANKS Student : Nguyen Thi Kim Dan Class : ATCB – K16 Student ID : 16A7510034 Supervisor : Mrs Can Thuy Lien (M.A) Hanoi, 2017 Banking Academy of Vietnam Graduation Thesis DECLARATION I hereby declare that the thesis is my original work and effort and has not been previously submitted for degree or examination in any university Where other sources of information have been used, they have been acknowledged Signature Nguyen Thi Kim Dan Student: Nguyen Thi Kim Dan – 16A7510034 Banking Academy of Vietnam Graduation Thesis DEDICATION I dedicate all my efforts and struggles of the educational life to my dear family Furthermore, I devote the work of this graduation thesis to lecturers and friends in the Faculty of Foreign Languages Finally, this graduation thesis is dedicated to the Banking Academy of Vietnam Student: Nguyen Thi Kim Dan – 16A7510034 Banking Academy of Vietnam Graduation Thesis ACKNOWLEDGEMENT There are a number of people without whom this thesis might not have been written, and to whom I am greatly indebted Firstly, the work presented in this thesis was accomplished under the guidance of Mrs Can Thuy Lien I would like to express my sincere gratitude to her for her continuous support, motivation and useful comments Without her guidance, this graduation thesis would not have been possible Secondly, I would like to thank all lecturers and classmates at the Banking Academy of Vietnam for their dedication and support during the 4-year course Finally, I must express my very profound gratitude to my parents and my siblings for providing me with unfailing support and continuous encouragement throughout my years of study and through the process of researching and writing this thesis Student: Nguyen Thi Kim Dan – 16A7510034 Banking Academy of Vietnam Graduation Thesis ABSTRACT It can be clearly seen that Vietnamese economy in the first decade of the 21st century has a significant development in the banking sector Additionally, commercial banks represent a considerable role in this development Commercial banks developed rapidly and became an important factor in Vietnamese economic growth However, a negative side always follows the result of any growth Expanding operation leads to non-performing loan ratio increase significantly in most commercial banks Therefore, non-performing loans has become a serious problem for the Vietnamese economy in recent years When the amount of non-performing loans increases to a particular extent, it will hinder the development as well as the operations of the banks Due to this issue, controlling the non-performing loan ratio becomes a vital work for Vietnamese banking system in general and all Vietnamese commercial banks in particular There is no model of solution for all banks According to specific characteristic of each bank, specific solutions to control non-performing loan ratio are provided However, those solutions seem not to be as effective as expected due to many reasons When Vietnam became an official member of the World Trade Organization (WTO), the high non-performing loan ratio brought many challenges It reduced the banks’ core competency as well as customer trust Therefore, the objectives of this thesis are researching non-performing loans’ real situation in Vietnamese commercial banks, assessing the government and the State Bank of Vietnam’s measures and the Vietnamese commercial banks’ efforts in the period of 2012–2016, and recommending some possible solutions to handle non-performing loans Student: Nguyen Thi Kim Dan – 16A7510034 Banking Academy of Vietnam Graduation Thesis TABLE OF CONTENT DECLARATION DEDICATION ACKNOWLEDGEMENT ABSTRACT LIST OF FIGURES LIST OF ABBREVIATIONS INTRODUCTION LITERATURE REVIEW CHAPTER 1: THEORETICAL FRAMEWORK ABOUT COMMERCIAL BANKS AND NON-PERFORMING LOANS 1.1 Overview about commercial banks 1.1.1 Definition 1.1.2 Roles 1.1.3 Main activities 1.2 Non-performing loans 1.2.1 Definition 1.2.2 Classification 1.2.3 Causes and consequences 13 1.2.4 Factors to identify non-performing loans 18 1.3 Non-performing loans’ management 19 1.3.1 Concept 19 1.3.2 Objectives and importance 19 Student: Nguyen Thi Kim Dan – 16A7510034 Banking Academy of Vietnam Graduation Thesis 1.3.3 Process 20 CHAPTER 2: THE REAL SITUATION OF NON-PERFORMING LOANS IN VIETNAMESE COMMERCIAL BANKS 23 2.1 Overview of Vietnam’s banking system 23 2.2 The real situation of non-performing loans in Vietnamese commercial banks 28 2.3 The causes of non-performing loans in the period of 2012 – 2016 34 2.4 The government and SBV’s measures and banks’ efforts in handling nonperforming loans in the period of 2012 – 2016 36 2.4.1 Government and SBV’s measures 36 2.4.2 Banks’ efforts 44 2.5 Assessment 48 2.5.1 Achievements 48 2.5.2 Limitations 50 CHAPTER 3: SOLUTIONS TO HANDLE NON-PERFORMING LOANS 52 3.1 Solutions to the government and the SBV 52 3.2 Solutions to the commercial banks 56 CONCLUSION 59 REFERENCES Student: Nguyen Thi Kim Dan – 16A7510034 Banking Academy of Vietnam Graduation Thesis LIST OF FIGURES Table Page Table 1.1: Debt classification under quantitative method Table 1.2: Debt classification under qualitative method 12 Table 1.3: Specific provision rate for each group 21 Table 2.1: Total assets in Vietnamese credit institutions 26 Table 2.2: NPL ratio of 10 commercial banks in the period of 2012 – 2016 30 Table 2.3: Comparison between Decree 53 and Decree 34 41 Table 2.4: Comparison between special bonds and new bonds 42 Table 2.5: Real situation of NPLs sold to VAMC 47 Chart Page Chart 2.1: The total of outstanding loans of six countries in 2015 24 Chart 2.2: %Outstanding loans/GDP of six countries in 2015 25 Chart 2.3: NPL ratio of banking system in the period of 2012 – 2016 28 Chart 2.4: The number of NPLs in ten surveyed commercial banks in 2016 32 Chart 2.5: The rate of NPLs in ten surveyed commercial banks in 2015 and 2016 32 Chart 2.6: Results of bad debt purchase of banks by VAMC 39 Chart 2.7: Contribution of methods in solving NPLs in 2016 46 Student: Nguyen Thi Kim Dan – 16A7510034 Banking Academy of Vietnam Graduation Thesis LIST OF ABBREVIATIONS ACB Asia Commercial Joint-Stock Bank BIDV Bank for Investment and Development of Vietnam Eximbank Vietnam Export Import Bank FED Federal Reserve System GDP Gross Domestic Product IMF International Monetary Fund MBBank Military Commercial Joint-Stock Bank NCB National Citizen Bank NPL(s) Non-performing loan(s) = Bad debt(s) OCB Orient Commercial Bank Sacombank Sai Gon Thuong Tin Commercial Joint-Stock Bank SBV The State Bank of Vietnam SCB Saigon Commercial Bank SHB Saigon – Hanoi Commercial Joint-Stock Bank SOCB(s) State-owned commercial bank(s) Student: Nguyen Thi Kim Dan – 16A7510034 Banking Academy of Vietnam Graduation Thesis has gradually applied Basel II method in aligning debt classification with internal credit rating system - Developing and applying the internal credit rating system in risk measurement Credit rating system in accordance with international standard is a prerequisite for Vietnamese commercial banks to complete credit procedures, thereby improving the credit quality of the whole system In addition, it also helps commercial banks have a consolidated and systematic assessment of their clients, investment projects and credit analyses - Enhancing controlling and checking activities With this model, commercial banks have had an objective way to assess risks; therefore, they would promptly take measures to limit the occurrence of bad debts In addition, this mechanism also requires the commercial banks to constantly improve the internal inspection’s quality, ensure transparent financial statements and enhance the effectiveness of risk management Obviously, the growth rate of NPLs and the NPL ratio has declined significantly through years - Active involvement of VAMC VAMC is a specialist company, which is organized in the form of a one-member limited company with 100% charter capital owned by the state VAMC is subject to the SBV’s management, inspection and supervision Charter capital of the company is 500 billion dongs The mission of VAMC is to buy and handle bad debts, depending on the characteristics of each bad debt portfolio, the objectives and tasks of VAMC in each period Up to now, VAMC has helped credit institutions to reduce the burden of bad debts aside to implement new credit activities - Improving significantly credit capacity of bank officers Banks gradually retrained and constantly cared for living standards of staff, creating mechanism, motivation and good working environment in order to stimulate the strength of human resources Student: Nguyen Thi Kim Dan – 16A7510034 49 Banking Academy of Vietnam Graduation Thesis 2.5.2 Limitations: Firstly, Circular 08/2016/TT-NHNN, which amended and supplemented a number of articles of Circular 19/2013/TTNHNN, have been issued to boost NPL resolution; however, the results were limited Though positive, such changes will hardly create significant impact on NPL solving since the key problems still exist such as: (1) VAMC has not been fully empowered to dispose NPL and collaterals; (2) VAMC’s equity is too small to buy NPLs at market price or actually solve the NPL that it had bought by special bonds; (3) Some regulations on ownership of real estate assets restricts potential investors Secondly, the decrease in NPL sold to VAMC was not due to an improvement in banks’ asset quality Instead, the reason was that banks were no longer under pressure to sell NPL to VAMC when their NPL ratio had been lower than 3% According to Table 2.5, from the beginning of 2016 to the end of October, 2016, VAMC bought an amount of 26,739 billion dongs of NPLs, equivalent to only one fourth of the amount it bought in 2015 Selling NPL to VAMC was considered unfavorable to banks due to: (1) VAMC’s modest ability to resolve bad debt; (2) High provision pressure on banks after selling NPL; (3) Banks still have to keep their responsibility for bad debts sold As of the end of quarter 3, VAMC has recovered 14.5 per cent of total debts bought by special bonds Moreover, 34 per cent of total debts bought by special bonds have been taken provision by banks The 51.5 per cent left, which is equivalent to 135,000 billion dongs, is still kept in VAMC without an efficient solving method Thirdly, the regulations on the SBV’s authority when dealing with weak credit institutions are incomplete The Law on Credit Institutions 2010 specified that the SBV has the rights to directly purchase compulsory shares and assign the Prime Minister to regulate the purchase of compulsory shares of the SBV However, the process of implementing this regulation had many dissenting opinions, leading to great difficulties for the SBV In addition, the Law on Credit Institutions does not give the SBV the rights to request the compulsory dissolution of weak credit institutions Student: Nguyen Thi Kim Dan – 16A7510034 50 Banking Academy of Vietnam Graduation Thesis Finally, VAMC and credit institutions cannot proactively collect property if the owner disagreed, deliberately opposed, or even create another dispute to extend the processing time Meanwhile, regulations in the Civil Code 2015 and Decree 163/2006/ND-CP also cause difficulties in handling property of credit institutions Therefore, it is necessary to have drastic solutions in the near future to handle NPLs and also improve financial situation of Vietnamese commercial banks Student: Nguyen Thi Kim Dan – 16A7510034 51 Banking Academy of Vietnam Graduation Thesis CHAPTER SOLUTIONS TO HANDLE NON-PERFORMING LOANS Non-performing loans’ issue has lasted for years but not fully solved Up to now, the main method to solve non-performing loans is banks’ provision If such method continues, 80 – 90 billion dongs will be made as provision each year; it will take – years to fully solve existing non-performing loans Therefore, this chapter will recommend some solutions for the government, the State Bank of Vietnam as well as Vietnamese commercial banks to handle non-performing loans 3.1 Solutions to the government and SBV: Restructuring the banking system The SBV should continue restructuring the banking system, thereby making the banking system healthier and removing weak banks Restructured entities are all credit institutions with the principle of stabilizing the system and protecting the depositors’ interests The restructuring program of credit institutions needs to be based on four principles: (1) Focusing on dealing with bad debt, especially self-handling of commercial banks The SBV, the Ministry of Finance as well as the government should create mechanisms and policies to support commercial banks in the long term (2) Completely dealing with weak banks and banks bought dong (3) Carefully considering the reorganization of governance and risk management in line with international standards The government should create an appropriate roadmap with the financial and management capacity of Vietnamese banking system to limit further instability to the system Student: Nguyen Thi Kim Dan – 16A7510034 52 Banking Academy of Vietnam Graduation Thesis (4) Maintaining stable liquidity on the basis of strict implementation of liquidity safety’s criteria in medium and long-term loans, real estate loans and foreign exchange status Improving the legal system in banking operations Firstly, the government should create a consolidated legal environment for purchasing activities and NPLs’ disposal The government should aggregate regulations into a common legal document on debt trading Secondly, the government, the SBV and the Ministry of Finance should establish and maintain a sound financial system, including standards, rules, auditing standards, settlements, accounting standards, governance and regulatory frameworks Additionally, it is vital to identify the core objectives that support the financial system to fulfill its role and ensure its speed and cost of capital Thirdly, the government should tighten regulations to ensure that system security will always be first and foremost when the banking system is exposed to high risk, including threats such as crisis or even bankruptcy In addition, regulations about bank safety ratios, debt classification and risk provisioning are necessary to be reviewed and reassessed strictly Handling cross-ownership status among commercial banks In order to deal with cross-ownership status, there must be two conditions: Firstly, weak banks which are not able to recover will terminate their operation The criteria and regulations on cross-ownership must be strictly enforced However, it is not possible for the bank to terminate its operations, so the SBV will have periodic warnings and follow-up measures Secondly, it is difficult to completely eliminate cross-ownership related to state-owned enterprises, so the government needs to create a clear roadmap for their equitization in order to develop in a market economy If it is done thoroughly, banks will have opportunities to divest transparently and publicly Student: Nguyen Thi Kim Dan – 16A7510034 53 Banking Academy of Vietnam Graduation Thesis In addition, the SBV should issue strict regulation for share purchasers and investors taking part in bank management to limit risks By implementing these methods, banking system will become healthier and attact customers to deposit in commercial banks Using the state budget In most of the bad debt process in the world, the state budget is an important source of finance to deal quickly and effectively with bad debts of credit institutions and the whole economy For example, during the crisis in 2008 – 2009, FED put 700 billion dollars into American credit institutions to deal with bad debts Another example is that the central bank of England used 500 billion pounds to secure liquidity and handle bad debts If credit institutions continue making provisions to deal with high risks, it will lead to a lot of difficulties and even bankruptcy Therefore, it might be good time for the state budget to help banks overcome the difficulties and continue playing a vital role in the economy VAMC Despite being one of six main methods to deal with bad debts, VAMC is very important Therefore, the government and the SBV should complete the model and mechanism of handling NPLs for VAMC Regarding the model, the government should expeditiously open other branches of VAMC These branches should be established in large cities, such as Ho Chi Minh City or Da Nang Additionally, it is necessary to open representative offices in key areas to make trading operations more convenient Besides, representative offices and branches must be streamlined, dynamic and efficient Regarding the mechanism, the government and the SBV should continue solving difficulties and problems in bad debt trading and dealing with security assets for debt recovery of VAMC Besides, the government needs to increase the rights for VAMC, focusing on the following points: Student: Nguyen Thi Kim Dan – 16A7510034 54 Banking Academy of Vietnam Graduation Thesis (1) Allowing VAMC to seize security assets In term of property seizure, according to the Civil Code 2015, if the person holding the property does not hand over the property, the secured party has the rights to request the Court to resolve, which will cause many difficulties for VAMC in dealing thoroughly with bad debts The government should provide separate guidance on cases where the person holding the property does not hand over the property to the disposal party Thereby, VAMC should be allowed to seize security assets in case VAMC and the property owner had an agreement on the seizure of property in the property security contract This also includes regulations on supporting responsibilities of the authority (2) Stopping distrainment of the mortgaged assets at VAMC The Law on Enforcement of Civil Judgments 2008 allows the distrainment of collaterals of the party executing the judgment who mortgaged at the credit institutions to secure the loan This regulation have a great influence on the rights of the secured party, which increases bad debts of the credit institution’s system, especially in cases where security assets are formed from loan capital or main sources to repay the credit institutions Therefore, it would be essential to stop distrainment of the mortgaged assets at VAMC Besides, VAMC should be the first one receiving payment before other taxes and payables (3) Allowing VAMC to receive mortgages using land title deeds and land-attached assets Regarding the right to receive land title deeds and land-attached assets as security assets, it is necessary to improve this right for VAMC As clearly seen, most of the collateral using in the market is land title deeds and and land-attached assets Therefore, the SBV should allow VAMC to receive mortgages, including land use rights and land-attached assets, thereby ensuring the feasibility and efficiency of bad debts’ handling Student: Nguyen Thi Kim Dan – 16A7510034 55 Banking Academy of Vietnam Graduation Thesis (4) Abolishing the fee for judgment execution About the execution fee, article 60 of the Law on Enforcement of Civil Judgments stipulates that the judgment debtors must pay the judgment execution fee Therefore, this regulation is unintentionally encouraging the judgment debtors to refrain from voluntarily executing their judgments, prolonging the time for judgment execution and infringing upon the legitimate interests of VAMC Consequently, it is necessary and consistent with the practice of dealing with bad debt in Vietnam to abolishing this regulation (5) Develop a unique mechanism for VAMC to operate The causes of problem in dealing with bad debts include many factors, in which legal obstacles are mainly leading to low efficiency of bad debt management Bad debt is concentrated mainly in weak credit institutions, while most bad debts related to key cases are being in investigation and litigation processes, therefore, bad debt processing is prolonged At present, mechanisms and policies of the SBV and government support for handling bad debts are not synchronous and lacking of resources and specific mechanism for VAMC to operate Therefore, it is necessary to develop mechanisms and policies to ensure that VAMC is operated safely and effectively In addition, the SBV should develop a complete legal document for VAMC to quickly process the debt and collaterals of bad debt 3.2 Solutions to the commercial banks: Dealing with bad debts, strengthening financial capacity, managing and reducing operational costs are central issues which should be set for Vietnamese commercial banks Firstly, Vietnamese commercial banks should actively research and develop restructuring plans associated with handling bad debts in the period of 2016 – 2020 This should be follow the guidelines, objectives, directions and solutions in the scheme of restructuring the system of credit institutions in the period 2016-2020 of the banking industry Student: Nguyen Thi Kim Dan – 16A7510034 56 Banking Academy of Vietnam Graduation Thesis Secondly, commercial banks should develop a plan to deal with bad debts and potential bad debts (including balance bad debts, bad debts sold to VAMC, restructured debts, corporate bonds…) in each quarter in 2017 Although NPL ratio went down below allowed maximum level, it is necessary for Vietnamese commercial banks decrease this rate to zero Thirdly, continuing to strengthen the organizational model, improving the governance and administration effectiveness, internal control and audit systems to reduce risks and violations of law are also essential Vietnamese commercial banks should review, issue and strictly abide internal regulations on the rotation of staff, especially positions of leadership, budget, credit, payment, capital mobilization, foreign exchange trading, and information technology Fourthly, banks should strengthen financial capacity, improve liquidity and actively restructure assets and capital sources in the direction of narrowing the difference between the capital maturity and capital using time Besides, increasing the proportion of capital with high stability is absolutely vital Fifthly, Vietnamese commercial banks need to strictly comply with the requirements, recommendations, warnings and decisions on inspection and audit by the State Inspection Agency and the State Audit Agency Additionally, they should also actively implement measures to prevent, detect and strictly handle acts of violation, negativity and corruption of individuals and units directly under their management Sixthly, Vietnamese commercial banks should positively and proactively implement solutions to handle bad debts, such as urging debt collection, debt trading and security asset collection, initiating loans against borrowers, and using provisions to handle risks, to take appropriate measures in order to support customers in overcoming difficulties and developing production and business Additionally, they should step up the handling of bad debts under the market mechanism, especially with VAMC Seventhly, reducing operating costs and using all resources to deal with bad debt are really vital Banks with bad debts, not setting up fully risk provisions in accordance with the law, or low business efficiency must strictly control and reduce the Student: Nguyen Thi Kim Dan – 16A7510034 57 Banking Academy of Vietnam Graduation Thesis management costs, operating costs, especially the costs of advertisement, promotion, and customer care Eighthly, Vietnamese commercial banks need to control the suitable credit growth rate to the scale, capital structure and risk management capacity of the credit institution; strict control the credit risk to ensure credit quality and limit bad debt incurred; strictly implement the credit growth target announced by the SBV; and focus on credit in the field of production and priority sectors as guided by the government Finally, banks must comply with the law on credit extension, loan security, especially the implementation of regulations on secured ratios in accordance with the schedule stipulated in Circular 36 and Circular 06 In addition, Vietnamese commercial banks should implement new solutions on handling NPLs and improving credit quality Improving capacity for credit assessment, credit appraisal and credit risk management is also crucial Additionally, banks need to regularly review, evaluate and monitor closely borrowers, timely report to the SBV difficulties, problems and recommendations in business activities to be considered and processed Student: Nguyen Thi Kim Dan – 16A7510034 58 Banking Academy of Vietnam Graduation Thesis CONCLUSION Nowadays, it is indubitably that business in the banking sector is very risky; therefore, researching risks in banking system is a necessary task for Vietnamese commercial banks Additionally, bad debt ratio is always a conundrum in banking activities, so in the near future, taking early measures to effectively control the increase of bad debt as well as its unpredictable impact on the banking system and the whole economy is essential Although over the past five years, the bad debt ratio of the banking system in Vietnam has decreased, the handling of bad debt is still a concerning matter The purpose of this thesis is to analyze and assess the real situation of non-performing loans in Vietnamese commercial banks and propose some possible solutions After doing research work, collecting information and data from various sources, the thesis completes some following tasks: Firstly, the thesis gave definition, roles and main activities of commercial banks and clearly defined non-performing loans (bad debts), its causes and consequences It is a foundation for reader to have an overall view of non-performing loans Secondly, the thesis also provided theory of bad debt’s management in commercial banks The objectives, the importance and the process of non-performing loan’s management are also mentioned Thirdly, the thesis focused on analyzing and assessing the real situation of bad debt ratio in Vietnamese commercial banks in the period of 2012 – 2016 Fourthly, the causes of non-performing loans in Vietnam, the measures of the government and the State Bank of Vietnam, the efforts of Vietnamese commercial banks were also analyzed Additionally, the thesis assessed the achievements and limitations of these aforementioned solutions Finally, the thesis suggested some solutions to handle non-performing loans Student: Nguyen Thi Kim Dan – 16A7510034 59 Banking Academy of Vietnam Graduation Thesis Generally, the thesis has researched some basic aspects of non-performing loans Thereafter, readers will understand some fundamental issue of bad debt and its negative impacts In conclusion, non-performing loan in Vietnamese commercial banks is a conundrum In order to address this situation, it is necessary for involved parties to care for the situation, thereby finding the appropriate solutions With the contribution of these members and the citizens in the handling bad debts, Vietnamese commercial banks’ situation will become healthier, and non-performing loan ratio will be restrained and limited to increase in the future Within a short time and limited knowledge of non-performing loans, the author could not fulfill all relating issues and inevitably have shortcomings in doing the thesis Thus, the author hopes to receive feedbacks and advice from readers to complete this thesis Student: Nguyen Thi Kim Dan – 16A7510034 60 Banking Academy of Vietnam Graduation Thesis REFERENCES Book and Document Peter S Rose, and Sylvia C Hudgins 2008 Bank Management and Financial Services (seventh edition) State Bank of Vietnam, Circular 02/2013/TT-NHNN Newspaper articles Nha Tam (2016) “Buc tranh no xau 2016 dan dinh hinh” http://vietstock.vn/2016/08/buc-tranh-no-xau-nam-2016-dan-dinh-hinh-757489668.htm Luanvanaz (2015) “Nguyen nhan phat sinh no xau” http://luanvanaz.com/nguyen-nhan-phat-sinh-no-xau.html Luanvanaz (2015) “Anh huong cua no xau ngan hang” http://luanvanaz.com/anh-huong-cua-xau-ngan-hang.html Chau Dinh Linh (2015) “Buc tranh toan dien ve xu ly no xau ngan hang tu 2010 den thang 8/2015” http://cafef.vn/tai-chinh-ngan-hang/buc-tranh-toan-dien-ve-xu-ly-no-xau-nganhang-tu-2010-den-thang-8-2015-20150904084710834.chn Vietnamnews (2016) “Banks sell non-performing loans to reduce bad debt” http://vietnamnews.vn/economy/283377/banks-sell-non-performing-loans-toreduce-bad-debt.html#mkpyfG4X0MHtS2bO.99 Luanvanaz (2015) “Ket qua dat duoc quan ly no xau tai cac ngan hang thuong mai” http://luanvanaz.com/ket-qua-dat-duoc-trong-quan-ly-no-xau-tai-cac-ngan-hangthuong-mai.html Bao Chuong (2017) “Quyet liet xu ly tinh trang so huu cheo ngan hang” Student: Nguyen Thi Kim Dan – 16A7510034 Banking Academy of Vietnam Graduation Thesis http://cafef.vn/quyet-liet-xu-ly-tinh-trang-so-huu-cheo-ngan-hang20170310224749422.chn Xuan Than/VOV.VN (2017) “De xuat nhieu dac quyen cho VAMC xu ly no xau” http://vov.vn/kinh-te/de-xuat-nhieu-dac-quyen-cho-vamc-xu-ly-no-xau-595869.vov PhD Bui Quang Tin (2017) “Ngan hang nen xy ly no xau thoi gian toi” http://cafef.vn/ngan-hang-nen-xu-ly-no-xau-ra-sao-trong-thoi-gian-toi20170503091523173.chn 10 H.Y (2017) “De xuat mot loat co che rieng cho VAMC xu ly no xau” http://thoibaotaichinhvietnam.vn/pages/tien-te-bao-hiem/2017-02-18/de-xuat-motloat-co-che-rieng-cho-vamc-xu-ly-no-xau-40824.aspx 11 Hong Phuc (2017) “Tuong lai nao cho VAMC va no xau” http://www.thesaigontimes.vn/158221/Tuong-lai-nao-cho-VAMC-va-no-xau.html 12 Yen Thanh (2016) “Thu tuong neu nhom giai phap xu ly no xau” http://vietnamfinance.vn/ngan-hang/thu-tuong-neu-3-nhom-giai-phap-xu-ly-noxau-20161118095850738.htm 13 Tran Thuy (2016) “No xau cua nhieu ngan hang co xu huong tang tro lai” http://bizlive.vn/ngan-hang/no-xau-cua-nhieu-ngan-hang-co-xu-huong-tang-tro-lai2189926.html 14 Tapchinganhang (2017) “Danh gia he thong kiem soat noi bo cua ngan hang thuong mai Viet Nam va mot so khuyen nghi” http://tapchinganhang.com.vn/danh-gia-he-thong-kiem-soat-noi-bo-cua-ngan-hangthuong-mai-viet-nam-va-mot-so-khuyen-nghi.htm 15 M.Econ Nguyen Van Thong (2016) “Nganh ngan hang Viet Nam da phai cong nen kinh te nhu the nao?” http://ndh.vn/nganh-ngan-hang-viet-nam-da-phai-cong-nen-kinh-te-nhu-the-nao-20160812114426531p149c165.news 16 Do Thien Anh Tuan (2017) “Tang truong kinh te phu thuoc su phuc hoi cua nganh ngan hang” Student: Nguyen Thi Kim Dan – 16A7510034 Banking Academy of Vietnam Graduation Thesis http://www.thesaigontimes.vn/158969/Tang-truong-kinh-te-phu-thuoc-su-phuchoi-cua-nganh-ngan-hang.html 17 Thanh Chung (2016) “Tao dieu kien de VAMC xu ly no xau, bao dam quyen, loi ich cac ben lien quan” http://vietnambiz.vn/tao-dieu-kien-de-vamc-xu-ly-no-xau-bao-dam-quyen-loi-ichcac-ben-lien-quan-9072.html 18 VnEconomy (2013) “No xau can dieu kien gi de VAMC mua lai?” http://www.bvsc.com.vn/NewsDetail.aspx?NewsID=243943 19 Ha Thanh (2015) “Qua VAMC, tai san da sinh loi” http://cafef.vn/tai-chinh-ngan-hang/qua-vamc-tai-san-da-sinh-loi20150629202224873.chn 20 T Phuong (2017) “Tang truong tin dung cao nhat nam” 21 http://cafef.vn/tang-truong-tin-dung-cao-nhat-trong-6-nam-qua20170329155252731.chn Useful Websites State Bank of Vietnam: ww.sbv.gov.vn Student: Nguyen Thi Kim Dan – 16A7510034