State Bank of Vietnam Issues Circular No. 31/2025/CT-NHNN Regulating the Activities of Subsidiaries and Associates of Credit Institutions in the Field of Debt Management and Asset Recovery

Circular No. 31/2025/CT-NHNN comprises 4 Chapters and 15 Articles:

Chapter I (General Provisions) — Articles 1 to 3;

• Chapter II (Activities of Debt Management Companies and Rights & Obligations of the Debt Manager and the Principal) — Articles 4 to 12, covering topics such as:
    • permissible activities of debt management companies;
    • types of receivables subject to management in debt management operations;
    • debt management, debt handling, and asset recovery under mandates granted by the principal;
    • debt purchase and sale;
    • acquisition of collateral assets for non-performing debts;
    • internal regulations;
    • rights and obligations of debt management companies;
    • rights and obligations of the principal (i.e. the credit institution).

• Chapter III (Responsibilities of the SBV) — Article 13, which outlines the SBV’s responsibilities for oversight and implementation.
• Chapter IV (Implementation Provisions) — Articles 14 and 15, dealing with the effective date and organizational implementation matters.

Circular No. 31 takes effect from December 1, 2025.

SBV/VNBA News