Vietnam Faces Limited Risks from SCB Bank Run, S&P Says
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Vietnam’s sovereign credit rating faces limited risks after customers of Saigon Commercial Bank, the nation’s fifth-largest commercial bank also known as SCB, pulled out their savings for several days, according S&P Global Ratings.
“To the extent that these are isolated events and have limited financial stability impact, we do not expect a material impact on our sovereign credit ratings on Vietnam,” Rain Yin, a sovereign analyst at S&P in Singapore, said in a statement in response to questions from Bloomberg News.