“**SCB Shuts Down Multiple Branches Across Vietnam**
Saigon Commercial Joint Stock Bank (SCB) has recently announced the closure of several branches and transaction offices in Ho Chi Minh City and other provinces. Specifically, SCB terminated the operations of the Thu Duc Transaction Office under the Dong Saigon Branch (located at 705 Kha Van Can, Linh Tay Ward, Thu Duc City, Ho Chi Minh City) effective May 20.
On May 25, SCB also ceased the operations of three transaction offices: Tan Son Nhi Transaction Office under Tan Binh Branch (211 Tan Son Nhi, Tan Phu District, Ho Chi Minh City); Phu My Hung Transaction Office under Branch 20/10 (1401-1403 My Toan 2-H4, Tan Phong Ward, District 7, Ho Chi Minh City); and Tay Saigon Transaction Office under Cu Chi Branch (851 National Highway 22, Cu Chi Town, Cu Chi District, Ho Chi Minh City).
In the province of Binh Duong, SCB closed down the Ben Cat Transaction Office under Binh Duong Branch (located at 44-46 Hung Vuong, My Phuoc Ward, Ben Cat Town) starting from May 24.
SCB’s closed transaction office at An Dong Plaza in District 5, Ho Chi Minh City. Photo: Pham Nguyen. |
In the Central Highlands province of Dak Lak, SCB ended the operations of the Nguyen Tat Thanh Transaction Office under the Dak Lak Branch (87 Ngo Quyen, Tan Loi Ward, Buon Ma Thuot City). Subsequently, the Dak Lak Branch of SCB relocated its head office to the address of the recently closed Nguyen Tat Thanh Transaction Office.
Prior to these closures, SCB had already shut down 47 transaction offices in nine provinces and cities. This included 33 transaction offices in Ho Chi Minh City, eight in Hanoi, and five in Danang. The remaining closures were distributed across the following provinces: Hai Phong, Nghe An, Binh Dinh, Dong Nai, Gia Lai, Long An, Ba Ria-Vung Tau, and An Giang, with one transaction office closed in each province.
According to statistics from the Vietnam Bank Association’s Southern Office, from June 2023 up to now, SCB has dissolved the operations of 61 transaction offices in various provinces, with 37 of them located in Ho Chi Minh City.
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. This measure is a professional action in accordance with legal regulations, aiming to tightly control and limit negative impacts on the credit institution and the entire banking system.
The State Bank of Vietnam also selected and appointed experienced and competent officials from Vietcombank, BIDV, VietinBank, and Agribank to participate in the management and operation of SCB.
Duy Quang
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