The State Bank of Vietnam (SBV) issued License No.10/GP-NHNN on July 31, 2015 to permit the Bank of India to establish a branch in Ho Chi Minh City (HCMC) of Vietnam.
Accordingly, the charter capital of the Bank of India - Ho Chi Minh City Branch is USD 15 million and its operational duration is 99 years.
The Bank of India - ho Chi Minh City Branch is allowed to conduct operations of a commercial bank in accordance with laws and SBV’s regulations, including several main activities such as capital mobilization, credit activities, payment and cash services, banking and financial consultancy and other operations as stipulated in the License.
The Branch is required to comply with applicable laws. The License took effect from the date of signing.
The headquarter of the Bank of India is located in Star House, C – 5, “G” Block, Bandra Kurla Complex, Bandra (East), Mumbai, India.
VMH