Vietnam to Put Lender Under ‘Special Scrutiny’ After Bank Run

Saigon Commercial Bank faced panicked customers this week
Police detained officials from a real estate conglomerate

Customers line up in front of a Saigon Commercial Bank branch in Ho Chi Minh City on Oct. 10.Photographer: Mai Ngoc Chau/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Nguyen Dieu Tu Uyen

October 15, 2022 at 7:44 AM UTC

Updated on

October 15, 2022 at 8:56 AM UTC

This article is for subscribers only.

Vietnam’s central bank will place Saigon Commercial Bank under “special scrutiny” after customers pulled their savings from its branches for several days this week.

The State Bank of Vietnam directed four banks to help manage Saigon Commercial Bank, also known as SCB, according to a statement from the regulator. SCB is the nation’s fifth-largest commercial lender by deposits and assets.