On November 30, 2018, the State Bank of Vietnam (SBV) issued Documents No.9160, 9161, 9162, 9163, 9164 and 9165/NHNN-TTGSNH permitting the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to establish more branches and transaction offices.
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Accordingly, Vietcombank is allowed to establish additional branches in the provinces of Ba Ria- Vung Tau, Hai Duong, Bac Ninh, Lam Dong and Ho Chi Minh City.
At the same time, the SBV Governor permitted Vietcombank to establish 10 more transaction offices in the provinces of Ben Tre, Binh Duong, Binh Phuoc, Lang Son, Hung Yen and Thanh Hoa.
In the Documents, the SBV also requires Vietcombank to take responsibility for implementing the procedures to inaugurate, register and publicize the newly established transaction offices and branches in line with Circular No.21/2013/TT-NHNN dated September 9, 2013 on the operational networks of the commercial banks and the other applicable legal texts. The Documents will cease to be valid if Vietcombank does not inaugurate the above-mentioned branches and transaction offices within 12 months from the date of its signing.
Le Hang