The State Bank of Vietnam (SBV) issued Document No. 9998/NHNN-TTGSNH on December 28 to permit Joint-Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to establish two additional branches in Ho Chi Minh City (HCMC).
BIDV is required to implement procedures for inaugurating, registering and publicizing newly established branches and office 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 Document will cease to be effective if the BIDV does not inaugurate the newly established branches within 12 months from the date of signing.
LH