The domestic monetary market has become rather stable after several CEOs of local banks and a financial tycoon were arrested due to alleged illegal activities.
Standard & Poor's Ratings Services announced on August 29 that the resultant liquidity pressure was limited to the Asia Commercial Bank (ACB) after a recent arrest of one of its founders.
Ly Xuan Hai, former General Director of the Asia Commercial Joint Stock Bank (ACB), has been detained for intentionally violating State regulations on economic management, causing serious consequences.
Fitch Ratings has affirmed that Vietnam-based Asia Commercial Bank (ACB) and Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) both received 'B' ratings with a stable outlook in addition to ‘b’ Viability Ratings (VRs).
Domestic gold prices have dropped remarkably for three successive days, hovering around VND43.5 million at 8.30 am on December 14.
The Asia Commercial Bank has been presented with “The 2009 Citi Performance Excellence Award” by the Citigroup.
The Asian Banker magazine officially announced on April 20 that the Asia Commercial Bank (ACB) has been chosen to receive the title “The Strongest Bank in Vietnam 2010”.
President Nguyen Minh Triet on February 18 paid Tet visits to the Saigon Jewellery Holding Company (SJC) and the Asia Commercial Bank (ACB).
The Asian Commercial Bank (ACB) has been named the “Best Bank in Vietnam” by the US-based Global Finance magazine.