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ThState bank vows to provide capital for ACBe State Bank of Vietnam (SBV) pledges to provide capital for the Asia Commercial Bank (ACB) to ensure its liquidity, SBV Chief Inspector Nguyen Huu Nghia told the press on August 22.

At present, the public is concerned about the arrest of Nguyen Duc Kien, former Vice Chairman of the ACB, on August 20. Kien’s arrest was related to his alleged legal violations at three companies where he serves as chairman, including B&B Trade and Investment Joint Stock Company, ACB Hanoi Investment Joint Stock Company and Asia Hanoi Financial Investment Ltd., Co.

According to Nghia, the SBV affirmed that Kien’s arrest is not related to the ACB as he no longer manages the bank. However, the central bank has taken measures to support the liquidity of the ACB in order to ensure the safety of the banking system.

At present, the SBV is keeping a close watch on the monetary market and the ACB, he said, adding that the system of credit organisations has also pledged to provide capital for the ACB to ensure its liquidity.

Therefore, the interests of depositors are completely guaranteed, he affirmed, recommending that organisations and individuals who have deposits in the ACB should be careful with groundless rumours to avoid regrettable losses.

Source: VNA

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