Vietnam lender facing bank run now ‘stable,’ official says; central bank assures market all is fine with bank's records

SCB’s branches in the nation’s commercial hub of Ho Chi Minh City were significantly quieter Tuesday morning, with some workers saying operations were returning to normal. - Photo from Vietnam News/ANN

HANOI, Oct 11 (Bloomberg): The operations of Saigon Commercial Bank, which faced days of panicked customers pulling out their savings, are "stable” and some clients are now returning to deposit money, according to Vo Minh Tuan, head of the central bank’s Ho Chi Minh City branch.

"SCB’s situation has become more stable now as the number of people coming in to withdraw money has decreased,” he said by phone. The central bank on Monday issued a statement reaffirming the lender’s ability to pay depositors.