Recently, many banks have announced auctions of large-scale debts worth hundreds of billions of dong. However, in addition to the usual collateral assets such as real estate, cars, and factories, some banks are offering unique and unusual items as collateral.
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Ore auction
For example, Agribank announced the auction of 500 tons of graphite ore from Vietnam Carbon & Graphite Co., Ltd. and 300 tons of graphite ore from Lam Ngoc Investment and Trading Co., Ltd. These are collateral assets for loans at Agribank's Tay Ho branch. The ore is in dry crystalline form, packaged in bags, and has been handed over to Agribank's Tay Ho branch for processing as collateral.
Accordingly, 500 tons of graphite ore from Vietnam Carbon & Graphite Co., Ltd. (carbon content 92%-93%, mesh -100) are being offered for sale by the bank with a starting price of 4.611 billion VND.
Meanwhile, Agribank wants to auction off 300 tons of graphite ore (90% - 92% carbon content, mesh - 100) belonging to Lam Ngoc Investment and Trading Company Limited.
The starting price for this property is 2.36 billion VND. This price excludes taxes, fees, and other financial obligations as stipulated by law.
Fertilizer auction
Agribank's Thai Nguyen branch is auctioning off assets belonging to its borrower, SumaGrow Vietnam Co., Ltd., with the auctioned assets being organic fertilizers.
Specifically, the asset being auctioned for this debt is 89,482 liters of Sumagrow liquid organic microbial fertilizer, manufactured in the United States. The asset is located in Can Tho City. The shipment is collateral for a loan taken out by SumaGrow Vietnam at Agribank Thai Nguyen under a credit agreement signed in 2020.
The starting price for this auction is 245,000 VND/liter. The minimum sales volume must be equivalent to 1 billion VND or more. The goods are divided into 22 lots, with lots numbered 01 to 21 each containing 4,082 liters, and lot number 22 containing 3,760 liters. Those registering to buy lot number 22 must purchase at least one additional lot from lots 01 to 21 to ensure the sales volume reaches 1 billion VND or more.
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Assets worth only a few tens of thousands of dong.
The bank also surprised many by wanting to sell unsecured consumer loans, some costing only a few tens of thousands of dong.
Specifically, VietinBank is auctioning off 646 consumer loan accounts of individuals who have become unable to repay their debts and have no collateral. The total book value (principal, interest, and penalty interest) of these loans is VND 12.7 billion.
The starting price for these non-performing loans offered by the bank is exactly equal to their book value (principal, interest, and penalty interest).
However, the bank stated that it may sell individual debts, several debts, or all debts together. Among these, the lowest-valued debt has a starting price of just 13,216 VND. The highest-valued debt is worth over 206 million VND.
VietinBank also wants to sell 535 consumer loan accounts with a total value of VND 11.6 billion, including the lowest-valued loan of VND 1,839 with no collateral.
Huyen Vi (compiled)
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