VNBA Debt Management Club: Strendthening Internal capacity and leading the debt trading market in 2026

The Vietnamese financial market entered the second quarter of 2026 amidst a challenging landscape. While credit growth in Q1 reached a positive 3.18%, the pressure of a new non-performing loan (NPL) cycle is gradually emerging under the impact of sustained high-interest rates and unpredictable fluctuations in global energy markets. In this context, the reorganization of personnel and the launch of the new Executive Board of the VNBA Debt Management Club on April 15, 2026, is not merely an administrative activity but a strategic move to reshape the debt resolution "ecosystem" in Vietnam. The transition of the Chairmanship to Mr. Tran Trung Dung – Chairman of the Members' Council of VAMC – has created an organic and unified connection between the State’s core entity and member credit institutions in the fight against bad debt.

Reflecting on the transition period, we see a legal gap that emerged after Resolution 42/2017/QH14 expired and was replaced by the provisions of the Law on Credit Institutions 2024. Although the new Law internalized many important mechanisms, practical application over the past year has revealed persistent "bottlenecks" regarding the right to seize collateral and summary procedures in court. Therefore, the core task of the Club in 2026 is identified as becoming the sharpest "policy bridge." Moving beyond merely reporting difficulties, the Club must proactively participate in finalizing guiding circulars, especially regulations related to Resolution No. 79-NQ/TW of the Politburo on the development of the State economy, to reaffirm VAMC's leading role in steering the debt trading market.

One of the strategic breakthroughs emphasized in this term is the "digitalization" of debt resolution activities. The efficient operation of the VAMC Debt Exchange and the data connection with the AMCs of commercial banks are top priorities. We cannot continue to resolve debt through traditional methods based on the disposal of physical assets, which is often prolonged and affected by real estate market sentiment. The trend for 2026 is to convert debts into highly liquid financial instruments, fostering a more robust secondary debt trading market. Enhancing debt information transparency on digital platforms not only attracts domestic and foreign investors but also minimizes the risk of profiteering, contributing to the health of the entire system's balance sheet.

In addition to the technological aspect, human factors and internal coordination mechanisms are also under scrutiny. Refining the Club's operational regulations to be more flexible will allow member banks to share "know-how" and experience in handling complex, cross-border, or conglomerate-related debts. The bond between VAMC and commercial banks in 2026 needs to be elevated to a strategic partnership: VAMC should not just be a "depository" for bad debt but must serve as a center for financial consultancy, asset valuation, and corporate restructuring support. Only when businesses recover can cash flows return to the banking system sustainably.

Finally, the increasing pressure of risk provisioning in 2026 requires credit institutions to act more decisively in self-resolving debt through measures such as full provisioning and bold use of reserves to handle risks. The Debt Management Club will play a coordinating role, helping members find a common voice with regulatory bodies such as the State Bank of Vietnam, the Ministry of Finance, and law enforcement agencies to shorten asset processing times. The ultimate goal is not only to keep the on-balance sheet NPL ratio below safe levels but also to unlock capital sources to effectively serve macroeconomic growth targets. With a decisive new leadership team and a gradually perfecting legal framework, we have every reason to expect a new, more professional, and efficient face for debt resolution in Vietnam in 2026.

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