Ms. Doan Thi Ngan owes Agribank more than 2,000 taels of gold for nearly 20 years.

The book value of the provisional debt as of July 13 is 2,149.11 taels of SJC gold, equivalent to about VND 14,313 billion (calculated according to the gold price on July 13 of VND 6.66 million/tael).

The starting price for the above debt is 10,826 billion VND. Bidders are required to deposit 1,082 billion VND, equivalent to 10% of the starting price.

The above starting price has decreased significantly compared to the last auction announcement in July 2023. At that time, the bank offered a starting price of VND 14,313 billion (nearly VND 3.5 billion higher than the starting price this time).

It is known that the gold debt was signed under two credit contracts between Ms. DTN and Agribank Gold and Gemstone Company, Ho Chi Minh City Branch in 2004 and 2005. Up to now, the debt has been merged into Agribank.

The above debt continues to accrue interest from July 14 until Ms. N. pays off the loan in full.

It is known that the collateral for the above loan is a house and land in Thu Duc City (HCMC). The above debt is auctioned in its original condition (including the original condition of the debt, legal status and potential risks) and in the "as is" method.

It is known that Agribank Gold and Gemstone Company (AJC) was established in 1994. In 2008, the company was equitized and operated as a joint stock company model.

In 2017, Agribank completely divested from AJC after transferring 12.6 million shares (equivalent to 61.24% of AJC's charter capital) to 3 investors including Thung Lung Vua Company Limited (buying 18.16% of charter capital), Hong Ngoc Construction and Investment Services Trading Company Limited (23.06%) and Phu Thinh Production Trading Company Limited (24.78%).

After completely divesting, Agribank issued a document confirming that it was no longer related to this company and requested that the Agribank brand not be used.

Source