On November 3, 2021, the State Bank of Vietnam (SBV) issued Document No. 7778/NHNN-TTGSNH allowing the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to establish 30 additional transaction offices.
Accordingly, Vietcombank is allowed to establish 30 additional transaction offices in the provinces of Ca Mau, Da Nang, Ha Tinh, Lao Cai, Thanh Hoa, Khanh Hoa, Phu Tho, Vinh Phuc, Quang Binh, Tay Ninh, Ba Ria-Vung Tau (one additional transaction offices for each province), Binh Duong, Gia Lai, Bac Giang, Bac Lieu, Dong Thap, Kien Giang, Phu Yen, Nghe An (two additional transaction offices for each province); and Hai Phong (three additional transaction offices).
In the same Document, the SBV also requires Vietcombank to take responsibility for implementing the procedures to inaugurate, register and publicize the newly established transaction offices in line with Circular No.21/2013/TT-NHNN dated September 9, 2013 on the operational networks of the commercial banks (as amended and supplemented in Circular No. 29/2015/TT-NHNN dated December 22, 2015) and the other applicable legal texts.
The Document will cease to be valid if Vietcombank does not inaugurate the above-mentioned transaction offices within 12 months from the date of its signing.
Le Hang