Police in the southern province of Tra Vinh arrested director of Vietinbank branch on allegations of embezzlement Friday, Tuoi Tre reported Saturday.
According to the newspaper, Nguyen Cong Binh, 51, was also suspended that day for police's investigations.
On November 19 police also arrested Binh's subordinate, Ngo Thi Thanh Van, vice director of Vietinabnk Tra Vinh, together with two others for allegedly faking documents to appropriate commissions on deposits.
Police said they launched the investigation after inspectors from the State Bank of Vietnam found that the branch paid more than VND2 billion (US$95,200) in commissions to a middle-man.
But the middle man, whose identity wasn't revealed, said that he or she didn't sign any agreement, receive money or introduce anyone to the branch
The state bank's inspectors also found that many documents recorded commissions that were paid two times for each deposit agreement.
Moreover, leaders of the branch have spent more than VND500 million ($23,800) from the salary fund to mobilize capital, but no documents were recorded, the inspectorate said.
The case is now being under further investigations.