On October 11, 2019, the State Bank of Vietnam (SBV) issued Documents No. 9700/NHNN-TTGSNH and No. 9701/NHNN-TTGSNH permitting Ho Chi Minh City Development Commercial Joint Stock Bank (HDBank) to establish five branches and 17 transaction offices.
Accordingly, HDBank is allowed to establish additional branches in the provinces of Bac Lieu, Ninh Thuan, Phu Tho, Ha Nam and Son La.
At the same time, the SBV Governor also permitted HDBank to establish 17 more transaction offices in the provinces of Tien Giang, Vinh Long, Binh Phuoc, Lam Dong, Binh Thuan, Phu Yen, Quang Ngai, Quang Nam, Quang Binh, Bac Ninh, Bac Giang, Ben Tre and the city of Hue.
In the Documents, the SBV requires HDBank to take responsibility for implementing the procedures to inaugurate, register and publicize the newly established branches and transaction offices 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 HDBank does not inaugurate the above-mentioned branches and transaction offices within 12 months from the date of its signing.
Le Hang