Vietnam’s central bank lends $24 billion to troubled bank
State Bank of Vietnam offering liquidity lifeline to lender mired in financial scandal, Reuters reports
The State Bank of Vietnam (SBV) has provided a cumulative $24 billion in loans to bail out Saigon Joint Stock Commercial Bank (SCB), a lender embroiled in a multi-billion-dollar financial fraud, according to Reuters.
The central bank had pumped $24 billion in “special loans” into SCB as of April 2, according to a bank document seen by Reuters. An anonymous source shared the document with the news agency.
The document showed that the central bank had started injecting a monthly average of $3.7
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