Executives resign at troubled Vietnamese bank

on 20/09/2012 08:39:10

Three executives at a large Vietnamese bank have resigned amid a deepening probe into a scandal that has shaken investor confidence in the country.

Asia Commercial Bank said it had approved the resignation of chairman Tran Xuan Gia and two deputies.

Tuoi Tre newspaper reported a fourth executive currently at Eximbank had also stepped down because he was at ACB when the scandal occurred.

Last month, ACB's ex-chief executive Hai Ly Xuan and a founder of the bank were arrested for alleged "economic crimes", causing a run on the bank and a large drop on the country's stock market.

ACB said the executives had resigned for approving a decision by Mr Hai to allow staff to withdraw US$34 (€26m) to deposit in another bank.