Vietnam's central bank lends $24.5B to rescue Saigon SCB from financial fraud scandal, providing 6% of 2023 GDP.
Vietnam's central bank has so far lent $24.5 billion to ailing Saigon Joint Stock Commercial Bank (SCB), as part of efforts to rescue depositors. The massive bailout, reported to be 6% of Vietnam's 2023 GDP, aims to save SCB from a nationwide financial fraud scandal. The bank has received daily injections of funds to keep track of their use, up from $23.3 billion in April.
June 04, 2024
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