On October 17, 2019, the State Bank of Vietnam (SBV) issued Document No. 8172/NHNN-TTGSNH permitting Public Bank Vietnam Ltd. to establish five branches and three transaction offices.
Accordingly, Public Bank Vietnam Ltd. is allowed to establish additional branches in the districts of Ha Dong and Dong Da of Hanoi city; and the districts of Thu Duc, Go Vap and District 9 of Ho Chinh Minh City.
At the same time, the SBV Governor also permitted Public Bank Vietnam Ltd. to establish 3 more transaction offices in District 1, District 2 and District 6 of Ho Chi Minh City.
In the Document, the SBV also requires Public Bank Vietnam Ltd. to take responsibility for implementing the procedures to inaugurate, register and publicize the newly established transaction offices and branches in line with Article 1 of 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 Document will cease to be valid if Public Bank Vietnam Ltd. does not inaugurate the above-mentioned branches and transaction offices within 12 months from the date of its signing.
Le Hang