Company Overview of Phuong Nam Commercial Bank
Phuong Nam Commercial Bank offers banking services including depositary and loan services. Phuong Nam Commercial Bank was founded in 1993 and is based in Ho Chi Minh City, Vietnam.
279 Ly Thuong Kiet Street
Ho Chi Minh City,
Founded in 1993
Key Executives for Phuong Nam Commercial Bank
Phuong Nam Commercial Bank does not have any Key Executives recorded.
Phuong Nam Commercial Bank Key Developments
Sacombank And Phuong Nam Bank May Merge
Mar 7 14
Sai Gon Thuong Tin Commercial Joint Stock Bank (HOSE:STB) and Phuong Nam Commercial Bank may merge, according to Pham Huu Phu, Chairman of Sai Gon Thuong Tin Commercial Joint Stock Bank.
VAMC Reportedly Planning To Acquire Assets Form Other Firms
Oct 25 13
Vietnam Asset Management Limited (VAMC) will acquired assets of other firms. According to the news report, The company will sign contracts in the week ending on October 25, 2013, to acquire to purchase more than VND 1 trillion in bad debts from MARITIME BANK, Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and Global Petro Commercial Joint Stock Bank (GPBank). The report added the new deal raises the total number of banks offloading bad debts to nine, including Agribank Securities Joint-Stock Corporation (HOSE:AGR), Vietnam Construction Joint-Stock Commercial Bank, Phuong Nam Commercial Bank, Sai Gon Thuong Tin Commercial Joint Stock Bank (HOSE:STB), Sai Gon-Ha Noi Commercial Jointstock Bank (HASTC:SHB), and Petrolimex Group Commercial Joint Stock Bank. It's reported that Techcombank plans to sell VND 93 billion in bad debts, GPbank to rid VND 498 billion and Maritime Bank to offload VND 500 billion in non-performing loans to VAMC. The report mentioned that VAMC estimates it will buy around VND 10 trillion of bad debts by the end of October 2013.
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