BIDV's BAMC to Seize 18,027 sqm of Trung Nam Land in Da Nang's Golden Hills City

Overview

BIDV’s debt and asset management subsidiary BAMC has notified that it will seize 18,027 sqm of land and attached assets at the Golden Hills City project in Da Nang from Trung Nam JSC, pledged as third-party collateral for two individual borrowers at BIDV’s Quang Trung branch. The action, scheduled to begin at 08:00 on October 30, 2026, is a bad-debt recovery step for BIDV (BID, HOSE) and a fresh signal of stress across the Trung Nam group’s Da Nang real-estate footprint.

Key Facts

• BAMC will seize 18,027 sqm at the Thuy Tu ecological urban area, commercially known as Golden Hills City, in Da Nang.
• The land certificate was issued to Trung Nam JSC by the Da Nang People’s Committee on March 9, 2012.
• The plot comprises 2,002 sqm of rural residential land and 16,025 sqm of urban residential land, both with long-term tenure.
• Trung Nam signed the third-party mortgage contract on December 30, 2015 to secure loans by Dinh Thi Xuan Huyen and Do Thanh Nguyen at BIDV’s Quang Trung branch.
• BIDV issued a handover demand on July 24, 2026; BAMC says the parties had not complied when the seizure notice was issued.
• Seizure is scheduled to start at 08:00 on October 30, 2026.
• The notice does not disclose the two borrowers’ outstanding balances or the collateral’s independent valuation.
• Golden Hills City spans more than 335 hectares; on July 7, 2026, Da Nang approved lifting total investment from VND 4,400B to more than VND 15,468B.

What Happened

BAMC, the wholly owned asset management and exploitation unit of BIDV, published a notice stating it will take possession of land-use rights and attached assets held by Trung Nam JSC at the Thuy Tu ecological urban area in Da Nang. The asset is a single 18,027 sqm plot within the wider Golden Hills City project, which Trung Nam JSC develops. According to the notice, the land was mortgaged under a third-party collateral contract dated December 30, 2015 to secure obligations of two individuals, Dinh Thi Xuan Huyen and Do Thanh Nguyen, at BIDV’s Quang Trung branch.

BIDV said it issued a formal demand on July 24, 2026 requiring the guarantor and the party holding the asset to hand it over for debt recovery. BAMC states that no handover had occurred as of the seizure notice, prompting the scheduled action from October 30, 2026. The notice, issued by the bank, does not disclose the outstanding loan balance of the two borrowers or a separate valuation of the collateral, so the size of the recovery relative to the underlying obligation is not yet known.

Market Context

BID (HOSE) closed at VND 34,250 on October 23, 2026. The seizure is a single-asset recovery action rather than a balance-sheet event for the bank, and the undisclosed debt balance limits any direct read-across to BID’s provisioning. It nonetheless lands against a backdrop of rising scrutiny of secured lending to property developers and of the Trung Nam group’s Da Nang projects, where legal bottlenecks have been under resolution. Vietnamese banks have been steadily working through legacy real-estate collateral, and BAMC seizures are a routine, if publicly visible, part of that process.

Strategic Significance

The key detail for long-term holders is the structure: the collateral belongs to Trung Nam JSC, but the loans belong to two individuals, meaning BIDV’s recovery depends on a third party’s willingness to surrender an asset inside a project whose investment capital was more than tripled to VND 15,468B in July 2026. That gap between a rising project value and a stalled handover illustrates the enforcement friction Vietnamese banks face on legacy 2015-vintage mortgages. For BID, the case is small in isolation but adds to the visible stock of collateral being enforced, and the absence of disclosed balances makes it impossible to judge whether recovery will be full, partial, or loss-making.

What to Watch

• Confirmation of whether the handover proceeds on October 30, 2026 or requires further enforcement steps.
• Any BID disclosure of the two borrowers’ outstanding balances or the collateral’s appraised value.
• BID’s Q3 2026 results and provisioning commentary on real-estate collateral.
• Further BAMC seizure notices involving Trung Nam group assets in Da Nang.
• Progress on Golden Hills City’s revised investment plan following the July 7, 2026 approval.