Chu Thi Binh could renegotiate compensation with Eximbank?

The first partial compensation was accepted, while most victims are looking for full repayment

A representative of Eximbank said that the bank has just paid VND9.2 billion ($0.4 million) to a female customer, who deposited VND11.7 billion ($0.52 million) but lost VND10.6 billion ($0.47 million). This amount is part of the case of VND50 billion ($2.2 million) being appropriated by the use of fake signatures at Eximbank’s Do Luong branch in the central province of Nghe An between 2012 and 2016.

Eximbank said that the bank only gives compensation in cases where the evidence is clear. Cases that are contentious will have to wait for the court’s conclusions. “However, Eximbank has done its utmost to meet customers’ requirements and the process is also faster,” said the representative.

However, Eximbank's representative confirmed that while the client lost more than VND9.2 billion, compensation for the remainder of her losses is subject to the court’s decision.

This is not entirely optimal as a solution for the client, as not only customers in Nghe An, but also Chu Thi Binh, who lost VND245 billion ($10.8 million), have been looking for full compensation at the earliest time possible. They tried to negotiate mutually beneficial solutions with the bank, with no effect.

Lawyer Nguyen Huu Liem, who represents the six customers whose VND50 billion ($2.2 million) was appropriated at Eximbank's Do Luong branch, affirmed that one of his clients has received VND9.2 billion ($0.4 million) in compensation.

"The remaining VND1.4 billion ($61,674) of the total VND10.6 billion ($0.467 million) was taken out with the real signature of the depositor, so Eximbank has yet to pay compensation," said Liem.

Earlier, Nguyen Tien Nam, a customer who lost VND28 billion ($1.2 million) in this case, was also offered VND1.55 billion ($68,300) while waiting for the court's conclusions. He refused the offer and requested Eximbank to return the entire amount lost.

On April 20, Le Van Quyet, general director of Eximbank sent a proposal to the Nghe An People's Court to delay the trial of Nguyen Thi Lam and accomplices who appropriated the VND50 billion ($2.2 million). The court is expected to start the trial on May 16.

These developments could open a new avenue for Chu Thi Binh to renegotiate compensation with Eximbank, potentially securing a higher amount. At the end of February, Eximbank offered VND14.8 billion ($0.65 million) of advance compensation to Chu Thi Binh, very little compared to her loss of VND245 billion ($10.8 million) at the bank.

Eximbank should consider raising the compensation offer to 90 per cent of the total losses, like it did in this case, where it paid VND9.2 billion ($0.4 million) of the VND10.6 billion ($0.47 million) lost. This would be a far more effective way to improve the bank's reputation.