Reuters exclusively reported that Vietnam has mounted an “unprecedented” rescue of Saigon Joint Stock Commercial Bank (SCB), a lender engulfed in the nation’s biggest financial fraud.
Business & Finance
Vietnam mounts ‘unprecedented’ $24 billion rescue for bank engulfed in giant fraud
17 April 2024, 1:05 pm 1 minute
Market Impact
As of the start of April, the Southeast Asian nation’s central bank had pumped $24 billion in “special loans” into SCB, according to one of the bank documents seen by Reuters, which amounts to 5.6% of the nation’s annual economic output.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Financial Services
Regions: Asia
Countries: Vietnam
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
