Vietnam mounts ‘unprecedented’ $24 billion rescue for bank engulfed in giant fraud


Business & Finance

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.

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

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