On January 31, 2020, the State Bank of Vietnam (SBV) issued Document No. 460/NHNN-TTGSNH permitting Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank) to establish five additional branches.
Accordingly, VietBank is allowed to establish the additional branches in the provinces of Quang Ninh, Quang Nam, Kien Giang, Dong Thap, and Binh Dinh.
In the Document, the SBV also requires VietBank to take responsibility for implementing the procedures to inaugurate, register and publicize the newly established 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 Document will cease to be valid if VietBank does not inaugurate the above-mentioned branches within 12 months from the date of its signing.
Le Hang