Reuters
August 23, 2012, By Ho Binh Minh
Nguyen Duc Kien is a shareholder in some of Vietnam's largest financial institutions (AFP, Hoang Dinh Nam) |
HANOI Aug 23 (Reuters) - A major Vietnamese bank founded by arrested tycoon Nguyen Duc Kien faced a run on deposits on Thursday, witnesses said, but the central bank has injected funds into the banking system and assured jittery residents their money is safe.
Monday's arrest of Kien, 48, sent shockwaves through the Communist-run country, triggering a 9.2 percent slide in the stock market this week and causing depositors to pull funds from Asia Commercial Bank (ACB), one of Vietnam's biggest lenders, which Kien helped found in 1994.
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