The State Bank of Vietnam (SBV) issued Documents No. 3946/NHNN-TTGSNH, No. 3947/NHNN-TTGSNH, No. 3948/NHNN-TTGSNH, No. 3949/NHNN-TTGSNH, No. 3950/NHNN-TTGSNH and No. 3951/NHNN-TTGSNH on May 25 to permit Tien Phong Joint-Stock Commercial Bank (TPBank) to establish five branches in the provinces of Kien Giang, Bac Ninh, Nam Dinh and Ho Chi Minh City (HCMC); and 01 representative office in HCMC.
The SBV requires TPBank to be responsible for implementing procedures to inaugurate, register and publicize newly established branches and representative 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 TPBank does not inaugurate the above – mentioned branches and representative office within 12 months from the date of signing.
Le Hang