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ARTICLE · 16 FEBRUARY 2022

Note About Bad Debt In Vietnam

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Bad debt is no longer a strange concept to the citizens of Vietnam.

VietnamFinance and Banking
Khuong Pham Duy
Khuong Pham Duy
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Bad debt is no longer a strange concept to the citizens of Vietnam. Nearly every citizen in Vietnam must have heard this term at some point in their life, especially individuals and organizations that need or have borrowed money from a bank or a credit institution. So, what is the note about bad debt in Vietnam?

Bad debt in Vietnam

Bad debt, also known as "nonperforming loan", "sour loan" or "soured credit", is a term used to describe debts that are past due for interest or principal payment beyond a specified time (usually 90 days).

Each bank or credit institution will base on the customer's solvency to determine the time to pay principal or interest. Individuals and organizations that fall into the group of bad debts and overdue debts will appear on CIC – a Credit Information Center under the State Bank of Vietnam. 

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