trending Market Intelligence /marketintelligence/en/news-insights/trending/gCHgOl8dF6yvh00YyvsuZw2 content esgSubNav
In This List

Former OceanBank chairman to face charges over lending violations, US$68M of losses

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on LGD

BLOG

Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level

Blog

Financial Institutions Factor Transition Risk into Climate-Related Stress Testing


Former OceanBank chairman to face charges over lending violations, US$68M of losses

Former OceanCommercial One Member Limited Liability Bank, or OceanBank,chairman Ha Van Tham is set to face charges after the completion of a two-yearprobe into lending violations linked to US$68 million worth of losses at thebank, VnExpress Internationalreported Oct. 7.

Investigators concluded that Tham "caused seriousdamages to the[private sector bank] and adverse effects to monetary policies" when heapproved a loan of 500 billion Vietnamese dong to a real estate firm withoutcollateral security in 2012.

Police said that the former executive also offereddepositors interest rates that were above the government's allowable rate,leading to a loss of nearly 990 billion dong, the publication added.

Tham was arrested in 2014 on suspicion of lending fraud.

Vietnamese authorities proposed similar charges for 16 otherexecutives of the bank.

As of Oct. 7, US$1 wasequivalent to 22,305 Vietnamese dong.