Saigon Commercial Joint Stock Bank (SCB – stock code: SCB) has ceased operations of six more branches in Ho Chi Minh City.
Specifically, from August 28 onwards, SCB halted transactions at the following branches: Nhat Tao Branch of Tan Phu District Branch, Nguyen Son Branch of Tan Binh District Branch, Pho Quang Branch of Tan Binh District Branch, Phu Nhuan Branch of Phu Dong District Branch, Nguyen Anh Thu Branch of Hoc Mon District Branch, Nguyen Duy Trinh Branch of Ben Thanh District Branch, and Hung Vuong Branch of Hai Phong City Branch.
Prior to this, on August 26, SCB had also announced the closure of one branch in Hai Phong.
Saigon Commercial Joint Stock Bank has shut down nearly a hundred branches since the arrest of Truong My Lan.
According to statistics from the Vietnam Banks Association (VNBA), from June 2023 up to now, SCB has ceased operations of 107 transaction offices in many provinces and cities nationwide.
SCB affirms that the closure of these branches does not impact the bank’s operations. All customer rights and transactions are guaranteed to be fulfilled at other SCB transaction offices.
On October 15, 2022, the State Bank of Vietnam announced a special control decision over SCB to stabilize the bank’s operations. This measure is a professional procedure stipulated by law to tightly control and limit negative impacts on the credit institution and the entire credit institution 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 administration of SCB.
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