ACB

Update news ACB

Former ACB vice chairman to stand trial on April 17

 VietNamNet Bridge – The Hanoi People’s Court has chosen April 17 as the start date for a hearing of a notorious case against Nguyen Duc Kien, who was former vice chairman and a former founding member of Asia Commercial Bank (ACB),

ACB swindler Kien faces life in prison

VietNamNet Bridge – The Supreme People’s Procuracy has laid charges against nine executives from Asia Commercial Bank for their alleged involvement in an enormous financial scandal.

 

Two more officials from Asia Bank face prosecution

 VietNamNet Bridge – The Supreme People's Procuracy has recently prosecuted two more former officials of the Asia Commercial Bank (ACB) for allegedly violating banking regulations.

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Vietnamese financier faces life sentence

 VietNamNet Bridge – Nguyen Duc Kien, one of Vietnam's most powerful financial figures, may face life sentence for violating state regulations on economic management.

Investigation opened into local banks following ACB fraud scandal fallout

 VietNamNet Bridge – The Ministry of Public Security has named 26 banks which are being investigated for receiving deposit money from the Asian Commercial Joint Stock Bank (ACB) at interest rates higher than the ceiling level.

Banks turn backs on property, shares to focus on key areas

Commercial banks have continued to pump capital into key sectors in an attempt to stimulate the economy, but they have also limited the provision of credit to real estate and securities areas,

ACB posts lower profit due to gold and forex loss

 VietNamNet Bridge – Asia Commercial Bank (ACB) incurred an after-tax loss of more than VND158 billion (US$7.6 million) in the fourth quarter of 2012.

Stocks end punishing year for businesses

 Beginning August 21, the Vietnamese stock market reacted negatively to the arrest of bank millionaire Nguyen Duc Kien, the co-founder of Ha Noi Stock Exchange-listed Asia Commercial Bank (ACB).

Further investigation on the case of mogul Kien

Related to the arrest of mogul Nguyen Duc Kien, investigators have identified a number of former senior leaders of the Asia Commercial Bank (ACB) who deliberately violated the state provisions on economic management.