The State Bank of Vietnam (SBV) issued Documents No. 1560, 1561/NHNN-TTGSNH on March 17 to permit the Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) to open a new branch and a representative office.
Accordingly, the VPBank is allowed to open one new representative office in Thuan An town of the province of Binh Duong and a new branch in Da Lat City of the provinces of Lam Dong.
The VPBank is responsible for implementing procedures for inaugurating, registering and publicizing newly established branch and transaction office 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 VPBank do not inaugurate the above – mentioned branch and representative office within 12 months from the date of signing.
MH