On December 31, 2020, the State Bank of Vietnam (SBV) issued Document No. 9534/NHNN-TTGSNH permitting the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to establish five additional branches and two more transaction offices.
Illustrated image (source: internet)
Accordingly, Vietcombank is allowed to establish the additional branches in the provinces of Hai Phong, Da Nang, Son La, Dak Lak and Hau Giang.
Besides, Vietcombank is also permitted to establish two more transaction offices in the provinces of Tuyen Quang and Binh Phuoc.
In the same Document, the SBV also requires Vietcombank to take responsibility for implementing the procedures to inaugurate, register and publicize the newly established branches and transaction offices in line with Circular No.21/2013/TT-NHNN dated September 9, 2013 on the operational networks of the commercial banks and the other applicable legal texts.
The Document will cease to be valid if Vietcombank does not inaugurate the above-mentioned branches and transaction offices within 12 months from the date of its signing.
Le Hang