Vietnam central bank pumps cash to save troubled lender SCB
Vietnam’s central bank has pumped in money to support Saigon Commercial Bank (SCB), which experienced a run triggered by the arrest of real estate tycoon Truong My Lan in October 2022.
Banking - Sat, April 20, 2024 | 5:15 pm
Thailand’s Siam Commercial Bank to acquire Home Credit Vietnam for $851 mln
Thailand’s Siam Commercial Bank (SCB) has signed a sale and purchase agreement to acquire 100% of the charter capital of consumer finance firm Home Credit Vietnam for VND20,973 billion ($851 million).
Companies - Thu, February 29, 2024 | 10:16 am
Trial of Van Thinh Phat chairwoman, accomplices to last nearly 2 months
The chairwoman of real estate developer Van Thinh Phat and her husband will be put on a first instance trial by the Ho Chi Minh City People's Court from March 5 to April 29 for causing losses of VND484 trillion ($19.73 billion) to private lender Saigon Commercial Bank (SCB).
Society - Sat, February 17, 2024 | 9:34 am
Vietnam ‘basically completes’ value assessment of weak banks pending forced takeover
The State Bank of Vietnam (SBV) has “basically completed” the “unprecedented” task of assessing the value of ailing banks subject to forced takeovers, said Governor Nguyen Thi Hong.
Banking - Tue, January 9, 2024 | 5:49 pm
Landmark anti-corruption cases help better Vietnam stock, bond markets: police officer
Investigations into and the handling of a series of corruption cases in the private sector have helped improve the performance of the stock and bond markets, said a senior police official.
Finance - Sat, January 6, 2024 | 10:51 am
Vietnam holds its own in challenging 2023 with more highs than lows
Vietnam showcased impressive resilience in the face of numerous challenges faced in 2023, recording several economic and diplomatic highs and some lows. The Investor looks back.
A year in review and 2024 forecasts - Tue, January 2, 2024 | 6:23 pm
Van Thinh Phat chairwoman accused of 'money laundering'
Real estate developer Van Thinh Phat chairwoman Truong My Lan has been accused of “money laundering” after using over VND304 trillion ($12.53 billion) she had appropriated from Saigon Commercial Bank (SCB) to buy properties and make money transfers abroad, according to the Ministry of Public Security.
Society - Thu, December 28, 2023 | 11:51 am
Vietnam 2024 credit growth estimated at 12%, bad debt under control: brokerage
Credit growth of Vietnam’s banking system in 2024 is likely to remain the same as this year at around 12%, analysts with Vietcombank Securities (VCBS) said in a new report.
A year in review and 2024 forecasts - Wed, December 27, 2023 | 5:33 pm
Vietnam PM orders scrutiny of crossholdings in banking system
Prime Minister Pham Minh Chinh has ordered strict handling of all violations found after an urgent scrutiny of crossholdings at credit institutions in the country.
Banking - Tue, December 19, 2023 | 4:46 pm
Vietnam to handle 2-3 ailing banks, industrial projects this year
The State Bank of Vietnam (SBV) and the Commission for the Management of State Capital at Enterprises (CMSC) will have to finish the handling of at least two to three banks and industrial projects by the end of this year, according to a government decision.
Banking - Mon, December 18, 2023 | 11:00 am
Van Thinh Phat chairwoman to face trial in $12.53 bln embezzlement case
Truong My Lan, chairwoman of property developer Van Thinh Phat Group, will face trial for embezzling over VND304 trillion ($12.53 billion) from Ho Chi Minh City-based Saigon Commercial Bank (SCB).
Top News - Fri, December 15, 2023 | 6:55 pm
No more lending to ‘backyard’ companies, Vietnam PM tells banks
Vietnamese Prime Minister Pham Minh Chinh has instructed banks to cancel all new loans to a small group of businesses or projects of an ecosystem known as “backyard” companies, in a move to improve banking operations.
Banking & Finance - Fri, December 8, 2023 | 11:16 am
Vietnam needs 3-5 years to fix consequences of Van Thinh Phat-SCB scandal: analyst
It will take the Vietnamese government three to five years to deal with toxic loans related to the Van Thinh Phat-Saigon Commercial Bank (SCB) scandal and repair the damage caused, said Nguyen Quang Thuan, chairman and founder of Hanoi-based FiinGroup, a leading financial data provider in Vietnam.
Economy - Thu, November 23, 2023 | 2:24 pm
Vietnam prosecutes 23 enforcement officials in Van Thinh Phat scandal
Vietnamese authorities have initiated criminal proceedings against 23 officials working for enforcement agencies for wrongdoings related to the Van Thinh Phat scam, part of intensified efforts to root out corruption in the country.
Society - Wed, November 22, 2023 | 11:02 pm
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