Sacombank Khanh Hoa director fired for deposit losses
Pham Tan Minh, director of the Sacombanks branch in Khanh Hoa province, has been dismissed from his post after four staff members at its Cam Ranh transaction office were arrested for property embezzlement.
Previously, customers had reported their deposits at the transaction office in Khanh Hoa's Cam Ranh town had disappeared.
A 46-year-old woman from Cam Phu ward, Cam Ranh town said VND46.9 billion ($1.99 million) in her personal account was illegally withdrawn by Sacombank Cam Ranh employees.
In May 2022, discovering that some money in her account had disappeared, she asked Sacombank to issue statements from May 1, 2022 to check her transactions. She found 12 unusual withdrawals and transfers with a total value of VND49.6 billion.
She said she did not make any withdrawals at the counter or transfers via internet banking. Worth mentioning, these transactions were performed without any message of account balance changes sent to her phone.
The statement also showed that nine cash withdrawals were made from 6 p.m. to 9 p.m., when the transaction offices were closed.
On January 18, responding to the customer’s petition, the law firm representing Sacombank said that the record of 12 withdrawals from May 4 to June 14, 2022 with a total amount of VND46.9 billion at Sacombank's Cam Ranh transaction office has been handed over to the police for investigation.
“It is not reasonable for the client to ask the bank to refund the amount as the investigative agency has not yet delivered its conclusion,” it said.
On March 2, the Police Department for Corruption, Smuggling and Economic Crimes under the Ministry of Public Security transferred the woman's petition to the Khanh Hoa provincial police.
A leader of Sacombank Khanh Hoa admitted that many other customers depositing money at the bank's Cam Ranh transaction office had also lost money. These cases are under investigation.
In November 2022, Khanh Hoa police arrested Nguyen Thi Thanh Ha, 47, former deputy manager of Sacombank Cam Ranh, and Ngo Thi Hong Nhan, former cashier at the transaction office, for suspected embezzlement of money from the bank's customers.
Two other employees, Nguyen Tra My and Ngo Nu Hong Hai, have also been placed under investigation, but not detained.
The four are suspected of embezzling VND100 billion ($4.02 million) from the bank's customers.
- Read More
Vietnam credits nearly double deposits, pushing up interest rates
Vietnam’s credit expansion has been nearly doubled deposit expansion, creating pressure on its banking system's liquidity as the year is coming to an end.
Banking - Mon, November 25, 2024 | 8:17 am GMT+7
New mindset key to resolving institutional bottlenecks, promote growth: economist
Moving from a mindset of control to that of promoting growth is key to clear four institutional bottlenecks in the way of national development, says Dr. Nguyen Dinh Cung, former director of the Central Institute for Economic Management (CIEM).
Opinion - Sun, November 24, 2024 | 3:30 pm GMT+7
Low production costs, tax benefits give Chinese goods price advantage in Vietnam
Chinese goods entering Vietnam are often cheaper than local products due to low production costs, taxation benefits and shipping subsidies by manufacturers, says Nguyen Thanh Trung, director of Logistics Technology Solutions Company Limited (LTS).
Companies - Sun, November 24, 2024 | 2:00 pm GMT+7
Thailand’s food trade to top THB700 billion next year
The private sector is set to propel Thailand towards becoming a global food hub by 2026, with the value of the nation's food trade expected to surpass THB700 billion ($20 billion) next year.
Southeast Asia - Sun, November 24, 2024 | 10:22 am GMT+7
Indonesia plans to cut coal use to 33% of energy mix
The Indonesian Government plans to slash the share of coal-fired power generation in the country’s energy mix to just 33%, while increasing the contribution of renewables to 42% by the end of 2040.
Southeast Asia - Sun, November 24, 2024 | 10:19 am GMT+7
Thai Government approves economic stimulus plan
The Thai Government’s economic stimulus policy committee led by Prime Minister Paetongtarn Shinawatra has approved a five-point plan to boost national economy in both short-and long-terms, the Government House said on Thursday.
Southeast Asia - Sun, November 24, 2024 | 10:16 am GMT+7
Singapore raises forecast for 2024 economic growth to around 3.5%
With economic growth in the third quarter of this year exceeding the projected rate, Singapore has raised its growth forecast for the whole year 2024 to around 3.5%.
Southeast Asia - Sun, November 24, 2024 | 10:14 am GMT+7
British oil giant invests in $7 billion gas project in Indonesia
UK oil giant BP announced a joint $7 billion project with its partners to exploit nearly 85 billion cubic meters of gas in Tangguh, West Papua province of Indonesia.
Southeast Asia - Sun, November 24, 2024 | 10:12 am GMT+7
Boom expectant securities firms rush to hike capital base
Many Vietnamese securities companies are rushing to increase their charter capital, anticipating a promising long-term outlook for the stock market.
Finance - Sun, November 24, 2024 | 10:00 am GMT+7
Vietnam sees October surge in car imports from Japan
Vietnam saw a sharp rise in car imports from Japan in October, particularly in the segment with nine seats or fewer, according to the General Department of Customs.
Economy - Sun, November 24, 2024 | 9:00 am GMT+7
Vietnam pharma firms optimistic about 2025 prospects despite lingering challenges
A majority of Vietnamese pharmaceutical firms are optimistic about 2025 market prospects despite challenges facing the healthcare and medicine sectors, according to a survey conducted by Vietnam Report JSC.
Economy - Sun, November 24, 2024 | 8:00 am GMT+7
Vingroup, Chinese firm get greenlight to co-develop Hanoi's 7th bridge over Red River
Vice Chairman of Hanoi Duong Duc Tuan will soon work with Vietnamese conglomerate Vingroup and China Pacific Construction Group on the development of Tu Lien Bridge, the seventh to link the city’s downtown with its suburban districts.
Infrastructure - Sat, November 23, 2024 | 10:56 pm GMT+7
Leading broker Saigon Securities fined over $287,000 for tax violations
Saigon Securities, a leading brokerage firm in Vietnam, has been fined over VND7.3 billion ($287,000) for tax violations in 2022 and 2023.
Companies - Sat, November 23, 2024 | 8:59 pm GMT+7
Japanese retailer Aeon to break ground on 4th shopping mall in northern Vietnam
Japan’s Aeon Mall Vietnam will start construction of a VND5.14 trillion ($202.2 million) shopping center project in the northern province of Quang Ninh, home to UNESCO natural heritage site Ha Long Bay, on December 2, according to provincial authorities.
Industries - Sat, November 23, 2024 | 7:45 pm GMT+7
Central Vietnam province targets more projects with Thai investment
Binh Dinh province in central Vietnam is looking to attract more Thai investment, so far hosting just 10 projects from the neighboring country worth a little over $106 million.
Companies - Sat, November 23, 2024 | 6:31 pm GMT+7
Southern Vietnam province okays 2 FDI projects totaling $57 mln
Tay Ninh province on Friday granted investment registration certificates to two foreign projects worth a total of $57 million.
Industries - Sat, November 23, 2024 | 3:30 pm GMT+7
- Consulting
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
In trade and investment, ASEAN and China are better together
-
AI can be a game changer for Vietnam tourism
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?