Bank offers to sell a series of trillion dong mortgaged debts by shares, real estate

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) and Global Partnership Auction Company Group have just auctioned off the debts of a series of 5 clients including Quang Vinh Real Estate Investment Trading Co., Ltd, Nam Do Long Construction Trading Co., Ltd. Ms. Lien Thi Thao, Mr. Lien Thanh Liem , and Mrs. Dam Kim Phung.

These debts arise under the credit contract cum mortgage and mortgage mortgage contract at Sacombank since 2013.

The total liabilities of all debts as of the beginning of April 2021 are over 2,400 billion dong, of which the remaining 930 billion dong capital is the outstanding interest.


The collateral for the debt is more than 25.2 million shares issued by the International Tourist Service Joint Stock Company of Ba Ria Vung Tau Province (Vung Tau Intourco). The total value of shares at par value of the issue is more than 252 billion dong. Currently, all shares are authorized for Sacombank to decide at its sole discretion.

The starting price of the auction debt is VND 2,393 billion.

Bank offers to sell a series of trillion dong mortgaged debts by shares, real estate

The apartment project in District 7 was offered for sale by SCB for more than 2,300 billion VND. Photoh: SCB

Another trillion-dong debt that continues to be offered for sale by the Saigon Commercial Bank (SCB) is an apartment project in Ho Chi Minh City, on Huynh Tan Phat Street, District 7.

The auctioned property is the land use right and the property attached to the land of the above project, using area 19,639m2. Assets attached to land include main items such as 22-storey building, 25-storey building, 5-unit villa area.


Actual current status of construction works on land up to the time of sale, including 5 unfinished concrete blocks and 5 fully built villas.

The starting price of the property for sale is over 2,352 billion VND, in which the land use right value is 1,981 billion VND and the construction value is over 371 billion VND. This is a collateral, confiscated by the bank and sold to recover loan debt.

Previously, the Joint Stock Commercial Bank for Investment and Development of Ho Chi Minh City (BIDV) also announced the selection of an asset auction organization as a debt of Khai Vy Group Joint Stock Company (headquartered in District 7, Ho Chi Minh City).

Collateral for the debt includes: Crystal Palace Wedding Convention Center on Nguyen Luong Bang Street, District 7; crop forests in Dak Nong; construction works on land, machinery and equipment for wood production in Quy Nhon City, Binh Dinh Province … The starting price is the entire outstanding principal, interest and penalty interest of customers at the time of signing the debt auction service contract (temporarily by the end of 2020 is more than VND 1,015 billion).

Many other commercial banks also promote selling collateral to recover debts from machinery, equipment, real estate, means of transport.

As at Sacombank, the leader of the bank said that in 2020, it has processed and recovered more than 15,200 billion VND. In the first 4 months of 2021, this bank continued to handle bad debts of more than 2,280 billion dong.

Thai Phuong


Source: nld.com.vn – Translated by fintel.vn

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