The State Bank of Vietnam (SBV) issued Document No. 6116/NHNN-TTGSNH on August 2 to permit Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) to establish five branches in the provinces of Ha Nam, Ninh Binh, Lang Son, Ca Mau and Hung Yen.
The SBV requires VPBank to be responsible for implementing procedures to inaugurate, register and publicize newly established branches 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 Document will cease to be effective if the VPBank does not inaugurate the above – mentioned branches within 12 months from the date of signing.
Le Hang