A Vietnamese government spokesman said Thursday the case against the Dutch bank ABN Amro, which is accused by a Vietnamese bank of causing financial losses to it, was dealt objectively and transparently.

At a regular press briefing, Foreign Ministry spokesman Le Dung said that after inspecting the Hanoi branch of the Dutch bank, the State Bank of Vietnam and the country's Investigation Agency have clarified that the branch "seriously violated Vietnam's law and international practice,"

The state-owned Industrial and Commercial Bank of Vietnam (Incombank) in August sued the Hanoi branch of ABN Amro for conducting illegal foreign exchange transactions with an employee of a branch of Incombank, causing financial losses to the Vietnamese bank.

ABN Amro, the Netherlands' biggest bank, has recently paid a total of 4.5 million U.S. dollars as compensation for the losses, in an effort to secure the freedom of some of its employees detained by the local agency.

"According to Vietnam's laws and regulations, if law breakers sincerely confess the truth and make compensation, they can be considered for punishment mitigation," said the spokesman.

Source: Xinhua