The appellate court lowered Lan’s sentence for fraud from life to 20 years in prison, while maintaining her sentences for money laundering and illegal cross-border money transfers. However, as the death penalty issued in the first phase has already taken legal effect, Lan is still subject to the death sentence.

The appeal court for the first phase of the case involving property developer Van Thinh Phat Group and Saigon Joint Stock Commercial Bank (SCB) kept the death sentence for Truong My Lan, former Chairwoman of the group, unchanged on December 3.

The Investigation Police Department for Corruption, Smuggling and Economic Crimes (C03) under the Ministry of Public Security has recommended prosecuting convicted property tycoon Truong My Lan and 33 others for fraudulent appropriation of assets, money laundering and illegal cross-border currency trafficking, the ministry released on June 5.

Deposits at all banks, including the Saigon Commercial Bank (SCB), are guaranteed by the State in all cases, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong affirmed on October 10 when talking to the media regarding recent issues related to the SCB.

The Siam Commercial Bank (SCB)’s Economic Intelligence Centre (EIC) has readjusted up its projection for Thailand’s GDP growth at 3% this year and 3.7% in 2023, thanks to the recovery of tourism and private consumption.

The Saigon Commercial Joint Stock Bank (SCB) has recently entered into a strategic cooperation deal with Kiraboshi Business Consulting Vietnam, the representative of Kiraboshi Bank of Japan.

Saigon Joint Stock Commercial Bank (SCB) has signed a strategic agreement on comprehensive and long-term cooperation in banking with three banks from Hong Kong.

The Vietnam Bank for Agriculture and Rural Development (Agribank) was given the Best International Payment 2015 award by the UK’s Standard Chartered Bank (SCB).