On January 31, 2020, the State Bank of Vietnam (SBV) issued Document No. 463/NHNN-TTGSNH permitting Viet Capital Commercial Joint Stock Bank (Viet Capital Bank) to establish five (05) branches and twelve (12) transaction offices.
Accordingly, Viet Capital Bank is allowed to establish the additional branches in Ha Noi, Thanh Hoa, Binh Dinh, Lam Dong, Dong Thap.
At the same time, the SBV Governor also permitted Viet Capital Bank to establish 12 more transaction offices in Hanoi, Hai Phong (3 transaction offices), Khanh Hoa (2 transaction offices), Ba Ria – Vung Tau, An Giang, Tay Ninh, Long An, Kien Giang (2 transaction offices).
In the Document, the SBV also requires Viet Capital Bank 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 Document will cease to be valid if Viet Capital Bank does not inaugurate the above-mentioned branches and transaction offices within 12 months from the date of its signing.
Le Hang