Customers should not withdraw money before the due date at Saigon Commercial Joint Stock Bank.

PV: In response to the information and the phenomenon of customers in Vinh city coming to withdraw money in unusual numbers at Saigon Commercial Joint Stock Bank (SCB). So, what do you think the State Bank branch in Nghe An province has to advise customers at this time?

Ms. Nguyen Thi Thu Thu - Director of the State Bank of Vietnam, Nghe An province branch. Photo: PV

Ms. Nguyen Thi Thu Thu:As soon as there were rumors and people in the area came to withdraw money abnormally, the Director of the State Bank branch in Nghe An province sent leaders and officers of the State Bank directly to the headquarters of the SCB branch to direct SCB Bank to handle the situation, and at the same time issued a notice to propagate and explain so that people could understand and stabilize their psychology. On the other hand, he directed the functional departments and offices of the State Bank to ensure adequate cash supply to ensure payment capacity if people need to withdraw money.

We recommend that customers with deposits at SCB should be cautious before deciding to withdraw their deposits, especially deposits withdrawn before maturity, because this will affect their rights to enjoy fixed-term interest rates at SCB. On the morning of October 10, the State Bank of Vietnam, Nghe An province branch, issued an urgent document to commercial bank branches in the area regarding the implementation of the industry's communication work, with the responsibility to propagate to the people to understand in order to stabilize their psychology, and ensure system safety for the entire system of credit institutions.

The State Bank of Vietnam, Nghe An province branch, supervises and monitors the activities of the SCB branch in Nghe An. Photo: Hoang Vinh

The Director of the State Bank of Nghe An province branch requested units to implement the following contents:

Units and individuals must not spread false rumors about the SCB case; Carry out propaganda according to the Governor's instructions in the Press Release (website sbv.gov.vn).

Other units and bank employees are not allowed to solicit, advise, or entice customers of SCB Nghe An branch to their bank. This is unfair competition, which can create instability for SCB at this time and cause insecurity for the commercial banking system in general. The State Bank of Vietnam Nghe An branch will take serious and drastic measures against individuals and units that violate and affect the general operations of the banking industry.

PV:To ensure continuous and stable operations for SCB Bank Nghe An branch, and at the same time guarantee the rights of depositors, what solutions does the State Bank Nghe An branch have?

Ms. Nguyen Thi Thu Thu:Safety of banking operations is always the top priority of the banking industry, so recently the State Bank of Vietnam has had many measures and policies to ensure safety for the entire system of credit institutions.

Customers come to make transactions at the SCB Nghe An branch on Nguyen Van Cu Street (Vinh City). Photo: Hoang Vinh

In the coming time, based on the direction of the State Bank of Vietnam and Nghe An province, the State Bank of Vietnam Nghe An branch will closely monitor and follow the operations of the SCB branch in Nghe An to provide timely instructions and support to ensure the stability of the branch's operations and the bank's liquidity. At the same time, continue to coordinate with press and media agencies to guide and propagate to the people about the activities of the banking industry as well as policies to protect depositors, in order to stabilize people's psychology and ensure the safety of the entire system of credit institutions.

The Governor of the State Bank of Vietnam affirmed that “In Vietnam, people’s deposits at banks, including SCB, have always been guaranteed by the State in all cases”. The State Bank will take measures to ensure continuous and stable operations for SCB, and at the same time, will also have solutions and policies in accordance with the law to ensure the rights of depositors at SCB.

PV:Thank you!