On March 31, 2020, the State Bank of Vietnam (SBV) issued Document No. 2326/NHNN-TTGSNH permitting the Orient Commercial Joint Stock Bank (OCB) to establish five new branches.
Accordingly, the OCB is allowed to establish five (5) new branches, namely: the OCB – Ha Thanh Branch; the OCB – Ba Dinh Branch; the OCB – Vinh Phuc Branch; the OCB – Binh Dinh Branch; and the OCB – Tay Ninh Branch.
In the Document, the SBV also requires the OCB to take responsibility for implementing the procedures to inaugurate, register and publicize the newly established branches in line with Circular No.21/2013/TT-NHNN dated September 9, 2013 of the SBV Governor on the operational networks of the commercial banks (as amended and supplemented) and the other applicable legal texts.
The Document will cease to be valid if the OCB does not inaugurate the above-mentioned branches within 12 months from the date of its signing.
VA