The State Bank of Vietnam (SBV) issued Documents No. 451, 452, 453, 454/NHNN-TTGSNH on January 26 to permit the Bao Viet Joint-Stock Commercial Bank (Bao Viet Bank) to establish additional branches in Hanoi, Quang Ninh, Kien Giang and transition offices in Can Tho, Da Nang and Hai Phong.
The Bao Viet Bank is responsible for implementing 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 Documents will cease to be effective if the Shinhan Bank (Vietnam) Ltd. does not inaugurate the above – mentioned branches and transaction office within 12 months from the date of signing.
DH