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MB’s CEO said the bank’s loans to Novaland remain under control, adding that there has been no new bad debt since the two parties established a credit relationship, amid a volatile real estate market.
At MB’s annual general meeting on the morning of April 18, 2026, the real estate credit issue—particularly loans to Novaland—continued to attract attention from shareholders as many banks have become more cautious toward the sector.
On Novaland’s borrowings, which have been linked to numerous project-related legal issues, Mr. Pham Nhu Anh said the matter is no longer time-bound as before.
He said Novaland’s flagship projects, especially Aqua City, have gradually resolved legal bottlenecks, meeting conditions to proceed with procedures such as red book issuance, sales, and resumption of construction.
“Novaland has moved past the difficult period. The difficulties were not due to the company’s internal factors, but mainly to the mechanism and legal framework of the projects,” he noted.
From MB’s perspective, the exposure related to Novaland has not increased and is reflected in the group’s financial statements.
The CEO also said the loan is not classified as non-performing debt.
“Since establishing a relationship with MB, Novaland has had no bad debt,” Mr. Anh stressed.
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