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
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
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
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
Cross-ownership in Vietnam banks a headache seen from Van Thinh Phat-SCB scandal
The scandal surrounding real estate developer Van Thinh Phat Group and Saigon Commercial Bank (SCB) shows that violations in cross-ownership and cronyism have become complicated and increasingly sophisticated, posing a huge challenge for regulators when it comes to preventing businesses from controlling banking activities.
Banking - Mon, November 20, 2023 | 1:50 pm
Van Thinh Phat chairwoman accused of appropriating $12.53 bln from Saigon Commercial Bank
Truong My Lan, chairwoman of Ho Chi Minh City-based property developer Van Thinh Phat Group, has been accused of controlling operations at Saigon Commercial Bank (SCB) to appropriate over VND304 trillion ($12.53 billion), police said on Friday.
Society - Sat, November 18, 2023 | 10:40 am
Two Saigon Commercial Bank chairpersons, accomplices called on to surrender
The Vietnamese Ministry of Public Security on Wednesday called on two former chairpersons and five other leaders of Saigon Commercial Bank (SCB) involved in the Ho Chi Minh City-based property developer Van Thinh Phat’s bond fraud case to turn themselves in.
Society - Thu, November 9, 2023 | 9:59 am
70 Vietnam firms issue bonds worth $7.36 bln in 10 months
Seventy companies in Vietnam raised a combined VND180.4 trillion ($7.36 billion) this year through October by issuing bonds, down 45% year-on-year, according to Finance Ministry data.
Finance - Sun, November 5, 2023 | 9:02 pm
Two Saigon Commercial Bank chairpersons wanted in relation to Van Thinh Phat Group bond fraud
Vietnamese police are calling on two chairpersons and five other leaders of the Saigon Joint Stock Commercial Bank (SCB) to turn themselves over their involvement in the HCMC-based property developer Van Thinh Phat’s bond fraud case.
Society - Mon, October 30, 2023 | 11:00 am
Agribank executive named chairman of Saigon Commercial Bank
Phan Dinh Dien, a board member of wholly state-owned Agribank, was appointed chairman of private lender Saigon Commercial Bank (SCB) to replace Vu Anh Duc under a decision issued by the State Bank of Vietnam (SBV) on Friday.
Banking - Sat, September 23, 2023 | 10:13 am
Manulife Vietnam boss promises settlements for all bancassurance-related customer complaints
Canadian-backed life insurer Manulife Vietnam will solve customer complaints regarding its bancassurance services via Saigon Commercial Bank, the company’s chairman Sachin Shah said.
Companies - Thu, April 27, 2023 | 3:09 pm
Government requests central bank to urgently assist Saigon Commercial Bank restructuring
The government has requested the State Bank of Vietnam to restructure specially controlled banks timely and efficiently according to the Politburo's conclusions, and urgently issue a restructuring plan for Saigon Commercial Bank (SCB).
Banking - Mon, April 10, 2023 | 10:25 am
Investigation launched into deposit savings scandal at Saigon Commercial Bank
The Ministry of Finance's insurance supervision administration has transferred complaints from dozens of citizens to the Ministry of Public Security regarding deposit savings at Saigon Commercial Bank (SCB) that were converted into insurance contracts.
Finance - Tue, February 7, 2023 | 2:56 pm
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