On January 25, 2024, the State Bank of Vietnam (SBV) issued Document No. 552/NHNN-TTGSNH allowing the Prosperity and Growth Commercial Joint Stock Bank (PGBank) to establish five additional branches.
Accordingly, PGBank is allowed to establish the additional branches in the provinces of Ninh Binh, Nghe An, Thai Nguyen, Thanh Hoa, and in Dong Anh district of Hanoi.
In the Document, the SBV also requested PGBank to take responsibility for implementing the procedures to inaugurate, register and publicize the newly established branches 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), and the other applicable legal texts.
The Document will cease to be valid if PGBank does not inaugurate the above-mentioned branches within 12 months from the date of its signing.
Le Hang