The State Bank of Vietnam has received a proposal from voters in Ho Chi Minh City regarding the reconsideration of restructuring SCB and finding appropriate solutions to address the consequences caused by the bank for the victims.
According to the State Bank of Vietnam, after placing SCB under special control, the State Bank of Vietnam has implemented measures to stabilize the bank’s operations, ensuring the safety of the banking system and the rights and interests of depositors.
The State Bank of Vietnam has directed the Special Control Board of SCB and SCB to promptly assess the overall situation of SCB and propose a restructuring plan for the bank in accordance with regulations.
SCB bank is waiting for restructuring.
Based on the report assessing the overall situation and the proposed restructuring plan for SCB, the State Bank of Vietnam has reported to the Prime Minister on the restructuring plan for SCB according to regulations.
Regarding the case that occurred at SCB, the relevant authorities are currently conducting investigations to clarify the violations that occurred at SCB and find solutions to address the consequences, ensuring the rights and interests of all parties involved in accordance with the law. The State Bank of Vietnam will coordinate in handling the related issues based on specific recommendations from the relevant authorities.
As the central bank and the regulatory authority of the banking sector, the State Bank of Vietnam always aims to steadfastly manage and contribute to controlling inflation, stabilizing the macroeconomy, currency, and ensuring the safe operation of the banking system in general, as well as SCB in particular, while also taking measures in accordance with the law to protect the legitimate rights of depositors.
Earlier, on October 15, 2022, the State Bank of Vietnam announced a decision to place SCB under special control to stabilize the bank’s operations. Placing a credit institution under special control is a business measure in accordance with the law to tightly control and limit negative impacts on the credit institution and the system of credit institutions.
The State Bank of Vietnam also selected and appointed experienced, competent, and professional officials from Vietcombank, BIDV, VietinBank, and Agribank to participate in the management and administration of SCB.
During more than 1 year under special control, along with the overall market trend, deposit interest rates at SCB have also decreased significantly. Previously, SCB applied interest rates of up to nearly 10% by the end of 2022 and was one of the banks with the highest deposit interest rates in the banking system at that time.
