Special Control of SCB Bank

October 15, 2022 18:29

Late today, October 15, the State Bank of Vietnam announced its decision to put Saigon Commercial Joint Stock Bank (SCB) under special control to stabilize its operations.

State Bank announces decision to put SCB Bank under special control

"To stabilize the operations of SCB, the State Bank has decided to take special control of this bank. The State Bank's special control of a credit institution is a professional measure in accordance with the law to strictly control and limit negative impacts on that credit institution and the system of credit institutions," the State Bank said.

Accordingly, SCB Bank's operations are carried out under the control of the State Bank. The State Bank selects and appoints experienced, competent, and professionally qualified officers from state-owned commercial banks (Vietcombank, BIDV, VietinBank, Agribank) to participate in the management and operation of SCB Bank.

At the same time, the State Bank said it will coordinate with relevant ministries and branches to synchronously implement necessary solutions for banks to operate safely and healthily.

According to Tuoi Tre

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Special Control of SCB Bank