Vietnam launches a $24bn "unprecedented" rescue for SCB, the bank involved in the nation's largest financial fraud case.
Vietnam has launched a $24 billion "unprecedented" rescue for Saigon Joint Stock Commercial Bank (SCB), the bank involved in the nation's largest financial fraud case. Without lending, SCB will collapse, according to new information provided to Reuters by an unidentified source. The scale of the cash injections, operation complexity, and potential damage to Vietnam's financial system make the situation "unprecedented".
April 17, 2024
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