The State Bank of Vietnam (SBV) issued Documents No. 1554, 1555 and 1573/NHNN-TTGSNH on March 17 to permit Saigon - Hanoi Joint – Stock Commercial (SHB) and Bao Viet Joint – Stock Commercial Bank (BVB) to open several new branches.
Accordingly, the SHB is allowed to open new branches in the provinces of Quang Ngai and Ca Mau. The BVB is permitted to establish a branch in Khanh Hoa province.
The SHB and BVB are responsible for implementing procedures for inaugurating, registering and publicizing newly established branches and transaction offices in line with Circular No. 21/2013/TT-NHNN dated September 9, 2013 on operational network of commercial banks and the other applicable legal texts. The Documents will cease to be effective if the SHB and BVB do not inaugurate the above – mentioned branches within 12 months from the date of signing.
LH