April 15, 2014 / 2:11 AM / in 4 years

VIETNAM PRESS-Asia Commercial Bank recovers 18 pct of fraud loss - Tuoi Tre

Vietnam’s Asia Commercial Bank last year recovered 1.25 trillion dong ($59.3 million), or 18 percent of the loss from a fraud case by its founder Nguyen Duc Kien, the bank said in its annual general meeting on Monday, the Tuoi Tre (Youth) newspaper reports.

The Hanoi-based lender would recover another 3 trillion dong in 2014, or 45 percent of the total loss, the report said.

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NOTE: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 21,090 dong) (Hanoi Newsroom; Editing by Sunil Nair)

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