More foreign banks to open branches in Viet Nam
The Commonwealth Bank of Australia, the Industrial Bank of the Republic of Korea (IBK) and Fubon Bank of Taiwan have been given the green light to open branches in Viet Nam.
Vice Governor of the State Bank of Viet Nam (SBV) Phung Khac Ke announced the agreement, which still remains in principle, on December 4.
The SBV has been processing requests from 19 foreign banks to open branches in Viet Nam after Decree 22 was made public.
It has also received requests to establish five 100 percent foreign-invested banks in Viet Nam .
The SBV has also given the nod, in principle, to the establishment of four local commercial banks, namely the Oil and Gas bank, the Bao Viet bank, the FPT bank and the Lien Viet bank.-(VNA).
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