The State Bank of Vietnam (SBV) issued Documents on October 5 to permit the Sai Gon – Hanoi Joint- Stock Commercial Bank (SHB) to establish transaction offices in Hanoi, Ho Chi Minh City (HCMC) and Hai Phong.
Accordingly, under Documents No. 7565/NHNN-TTGSNH, No. 7566/NHNN-TTGSNH and No. 7567/NHNN-TTGSNH, SHB is allowed to establish 08 transaction offices in Hanoi, 01 transaction office in Hai Phong and 01 transaction office in HCMC respectively.
The SBV requires SHB to be responsible for implementing procedures to inaugurate and publicize newly established transaction offices in line with Circular No. 21/2013/TT-NHNN dated September 9, 2013 on operational network of commercial banks and the other applicable legal texts. The Documents will cease to be effective if the SHB does not inaugurate the above – mentioned transaction offices within 12 months from the date of signing.
DH