Top executives at Vietnam bank resign

HANOI (AP) - Three executives at a large Vietnamese bank have resigned amid a deepening probe into a scandal that has shaken investor confidence in the country.

Asia Commercial Bank (ACB) said on Wednesday it had approved the resignation of chairman Tran Xuan Gia and two deputies.

Tuoi Tre newspaper reported a fourth executive currently at Eximbank had also stepped down because he was at ACB when the scandal occurred.

Vietnam's crowded banking sector is believed to have bad debts of up to 10 per cent of outstanding loans and is one of the greatest risks to a once booming economy that is now slowing. The Communist government has pledged to restructure the sector, but doubts remain whether it has the will to do this Last month,