The State Bank of Vietnam (SBV) issued Documents September 30 to permit the Military Joint- Stock Commercial Bank (MB) to establish branches and transaction offices.
Accordingly, MB is allowed to establish several branches in Ho Chi Minh City, Hanoi, Ba Ria – Vung Tau, Binh Duong, Lang Son, Yen Bai, Tuyen Quang, Quang Binh and 19 transaction offices nationwide.
The SBV requires MB to be responsible for implementing procedures to inaugurate and publicize newly established branches and 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 BIDV does not inaugurate the above – mentioned branches and transaction offices within 12 months from the date of signing.
LH