Bad debts to be removed from OBS

The State Bank of Vietnam has issued Circular No. 11/2021/TT-NHNN on the classification of assets and provision for risks, the use of provisions to deal with risks in the operations of credit institutions, and spending by foreign bank branches. Under the Circular, after five years, debts that have been settled by all measures but cannot be recovered will be removed from the off-balance sheet (OBS).