Vietnam’s central bank reassures depositors amid bank run

Arrest of a prominent businesswoman triggers a run on a major Vietnamese bank

State Bank of Vietnam governor Nguyen Thi Hong
SBV governor Nguyen Thi Hong

The State Bank of Vietnam (SBV) governor Nguyen Thi Hong reassured depositors today (October 10) their bank savings are guaranteed by the government amid a bank run.

Long queues have been seen at bank branches of the Saigon Joint Stock Commercial Bank (SCB) in Ho Chi Min City since the weekend, media reported. Depositors rushed to withdraw their money following the arrest of Vietnamese real estate tycoon Truong My Lan over alleged financial fraud on October 8.

Rumours about Lan’s impending

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