The State Bank of Vietnam (SBV) issued Document No. 878/NHNN-TTGSNH on February 9 to permit the Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) to change its two savings funds into transaction offices in the provinces of Hai Phong and Nam Dinh.
The SBV requires VPBank to be responsible for implementing procedures for inaugurating, registering and publicizing newly established transaction offices in line with Circular No. 21/2013/TT-NHNN dated September 9, 2013 on operational network of commercial banks and applicable laws. The Document will cease to be effective if the VPBank does not inaugurate the above – mentioned transaction offices within 12 months from the date of signing.
LH