JavaScript is off. Please enable to view full site.

ACB says depositors are back after Kien’s arrest

ACB says depositors are back after Kien’s arrest

Saturday, August 25, 2012, 08:00 GMT+7

Depositors have been sending their money back to ACB after a wave of withdrawals following the arrest of Nguyen Duc Kien, the bank’s co-founder, early this week, said ACB deputy CEO Nguyen Thanh Toai Friday. On August 22, customers withdrew a massive VND5 trillion (over US$240 million) from ACB after Kien was arrested for illegal trading in his three personal companies. The State Bank of Vietnam has assured depositors that Kien’s detention has nothing to do with ACB as the banking tycoon holds just less than 5 percent of ACB shares, and is no longer a major shareholder of the bank. “As of Friday, depositors have returned to ACB,” Toai told reporters. As of the end of the day, the bank received VND5 trillion worth of extended saving books from customers, and another VND1 trillion from 5,000 newly-transacted deposits, said Toai. “We have won back customers’ trust, and they themselves also realized it’s no good withdrawing the deposits before due date,” he said, adding the situation has improved. “Things will return to normal next week, and the arrests of Kien and ex-CEO Ly Xuan Hai will have little impact on ACB operations,” he asserted. Hai, ACB former general director, was Thursday detained and charged with "intentionally violating State regulations on economic management and causing serious consequences." Meanwhile, the number of customers who came to ACB headquarters to draw money on August 24 was also on the decline, and the bank is launching promotional programs to win back more depositors.

tuoi tre

More

Read more

;

Photos

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Latest news