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NEWS: Vietnam continues support for bank engulfed in massive fraud, central bank says

A logo of Saigon Joint Stock Commercial Bank (SCB) is seen in front of an under-construction building in Ho Chi Minh City, Vietnam, November 30, 2023. REUTERS/Francesco Guarascio/File Photo

By Khanh Vu

Vietnam’s central bank said on Friday it had continued providing support to Saigon Joint Stock Commercial STB.HM Bank (SCB), which it put under special supervision in October 2022 after a run on its deposits.

Reuters reported on Wednesday the central bank had pumped nearly $24 billion into SCB to prevent its collapse, and that special loans to the bank had continued at least until early April.

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