ABBank allowed to open new branches, transaction offices and upgrading transaction offices from credit funds

Arcordingly, ABBank was allowed by the Governor to open 4 new branches: Dien Bien Branch at 904, No9 Block/ Civil Group, Muong Thanh ward, Dien Bien Phu city, Dien Bien Province; Lang Son Branch at 181 Le Hong Phong street, Lang Son city, Lang Son Province; Nghe An Branch at 38 Tue Tinh street, Hung Dung ward, Vinh city, Nghe An province; Thai Binh Branch at 227 Le Quy Don street, Thai Binh city, Thai Binh Province.

ABBank was also approved to establish 14 new transaction offices, specificly:

In Bac Ninh province: ABBank is allowed to open Thuan Thanh transaction office (Under Bac Ninh Branch);

In Thai Nguyen province: ABBank is allowed to open Dai Tu transaction office (Under Thai Nguyen Branch);

In Thua Thien Hue province: ABBank is allowed to open Phu Vang transaction office (Under Thua Thien Hue Branch);

In Binh Thuan Province: ABBank is allowed to open Tan Chau and Go Dau transaction offices (Both of them are under Tay Ninh Branch);

In Quang Nam province: ABBank is allowed to open Nam Phuoc and Dai Loc transaction offices (both of them are under Quang Nam Branch);

In Khanh Hoa province: ABBank is allowed to open Van Ninh transaction office (Under Khanh Hoa Branch);

In Gia Lai Province: ABBank is allowed to open Chu Se transaction office (under Gia Lai Branch);

In Long An Province: ABBank is allowed to open Duc Hoa transaction office (under Long An Branch)

In Dong Thap Province: ABBank is allowed to open Hong Ngu transaction office (under Dong Thap Branch)

Meanwhile, Governor approve ABBank to establish 15 transaction offices on the basis of upgrading 15 credit funds, as follows:

In Hanoi: Pho Hue Credit Fund upgraded to Hang Bai transaction office, Le Loi credit Fund upgraded to Le Loi transaction office, Duc Tu credit Fund upgraded to Duc Tu transaction office, Doan Ke Thien credit Fund upgraded to Doan Ke Thien transaction office (all of 4 transaction offices are under Ha Noi Branch)

In Son La: To Hieu Credit Fund upgraded to To Hieu transaction office; Quyet Thang Credit Fund upgraded to Quyet Thang transaction office (Both of them are under Son La Branch).

In Thai Nguyen: Mo Bach Credit Fund upgraded to Mo Bach transaction office; Pho Yen Credit Fund upgraded to Pho Yen transaction office (Both of them are under Thai Nguyen Branch).

In Quang Ninh: Mao Khe Credit Fund upgraded to Mao Khe transaction office (under Quang Ninh Branch);

In Da Nang City: Nui Thanh Credit Fund upgraded to Nui Thanh transaction office (under Da Nang Branch);

In Ba Ria – Vung Tau Province: Dong Xuyen Credit Fund upgraded to Dong Xuyen transaction office (under Ba Ria – Vung Tau Branch);

In Da Nang: Nui Thanh Credit Fund upgraded to Nui Thanh transaction office (under Da Nang Branch);

In Ho Chi Minh City: Binh Chanh Credit Fund upgraded to Binh Chanh transaction office; Thuan Kieu Credit Fund upgraded to Thuan Kieu transaction office; VNDirect Credit Fund upgraded to Ben Nghe transaction office; Tran Hung Dao Credit Fund is convert to Tran Hung Dao transaction Office (all of them are under Branch of Ho Chi Minh City);

The SBV requires ABBank to apply the procedures of launching, registering, publishing in the Official Gazette to approved branches and transaction offices in line with provision on network of Commercial Banks at Circular No21/2013/TT-NHNN issued on 9th September, 2013 and relevant regulations.

ABBank has to launch the branches and transaction offices mentioned above within 12 months from the date of signing. After this deadline, the approved documents of the SBV cease to be effective.