On March 12, 2020, the State Bank of Vietnam (SBV) issued Documents No. 1623, No. 1624, No. 1625, No. 1626, and No. 1627/NHNN-TTGSNH approving the establishment of 05 new branches of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB).
Accordingly, the SBV Governor has approved VCB to establish 05 additional branches in the provinces of Quang Nam, Quang Ninh, Yen Bai, Dak Nong and Hoa Binh according to the VCB's 2019 network development plan, specifically as follows:
Hoi An Branch located at No. 2 Tran Cao Van, Cam Kho Ward, Hoi An City, Quang Nam Province;
Quang Ninh Eastern Branch located at 168 Tran Phu Street, Cam Tay Ward, Cam Pha City, Quang Ninh Province;
Yen Bai Branch located at Hoa Binh Street, Yen Bai City, Yen Bai Province;
Dak Nong Branch located at 23/3 Street, Trung Nghia Ward, Gia Nghia Town, Dak Nong Province;
Hoa Binh Branch located at Cu Chinh Lan Street, Phuong Lam Ward, Hoa Binh City, Hoa Binh Province.
The SBV also required the VCB to take responsibility for implementing the necessary procedures to inaugurate, register and publicize the newly established branches in line with Circular No. 21/2013/TT-NHNN dated September 9th, 2013 on the operational networks of commercial banks (as amended and supplemented) and other applicable legal texts.
The Document will cease to be effective if the VCB does not inaugurate the above-mentioned branches within 12 months from the date of its signing.
VA