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Vietnamese police arrest former CEO of DongA Bank

A former CEO of DongA Commercial Joint Stock Bank, or DongA Bank, and four other staff were arrested by Vietnamese police while the bank remains under investigation over its banking operations, Reuters reported Dec. 10, citing a statement from the bank.

Former CEO Tran Phuong Binh and four other employees were taken into custody by police.

The State Bank of Vietnam had placed the bank under supervision "for violations in financial management and credit grants" in 2015. The former CEO and the four employees have been suspended since August 2015.

The bank said all of its business activities are functioning as normal.