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

PV: Regarding the information and 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 recommend to 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 officials 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that customers with deposits at SCB should be cautious before deciding to withdraw their deposits, especially deposits withdrawn before maturity, because this will affect their rights to enjoy the term interest rate at SCB. On the morning of October 10, the State Bank of Vietnam, Nghe An province branch, sent 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 the safety of the entire system of credit institutions.

State Bank of Vietnam Nghe An branch supervises and monitors the activities of 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 incident; 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 general insecurity for the commercial banking system. 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 ensure the rights of depositors, what solutions does the State Bank Nghe An branch have?

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

Customers come to transact 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 disseminate information to the public about the banking sector's operations as well as policies to protect depositors, in order to stabilize people's psychology and ensure the safety of the entire credit institution system.

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!