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Ly Xuan Hai resigns as ACB boss
Ly Xuan Hai left the position of General Director of Asia Commercial Joint Stock Bank (ACB) after his resignation letter has been approved by the bank’s board of directors, a press conference said on August 23.
Yesterday evening, Do Minh Toan, who is now the new general director of ACB, told local media that the bank has prepared for all scenarios.
He claimed that “the situation is within control” as they were able to carry out all transactions though there were “many withdrawals”.
“As of the close of August 22, the amount of withdrawals was higher than one day before but much lower than the bank’s forecast”, Toan told Tuoi Tre.
“As of the close of August 22, the amount of withdrawals was higher than one day before but much lower than the bank’s forecast”, Toan told Tuoi Tre.
According to Toan, in the two days of Agust 21 and 22, ACB used bonds to loan from the State Bank of Vietnam VND10 trillion. Besides, the VND36 trillion deposited on the inter-bank market will be withdrawn to serve liquidity demands. Partner banks are also assisting ACB.
ACB has over VND6 trillion in balance, US$9.3 million and $20 million on the way to the bank, not to mention US$165 million that is readily convertible to cash, Toan added.
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