Vietcombank establishes subsidiary bank in Laos

VGP – The Bank for Foreign Trade of Viet Nam (Vietcombank) was permitted to open a subsidiary in Vientiane, Laos with an initial charter capital of US$ 80 million .

July 18, 2017 7:04 AM GMT+7

The Vientiane-based bank has an official name Vietcombank Laos Limited.

Vietcombank is responsible for complying with the legal regulations on foreign investment and relevant regulations of 100% foreign capital bank; minimum capital adequacy ratio, limited capital contribution, and share purchasing.

The Governor of the State Bank of Viet Nam also allowed Vietcombank set up a representative in New York, the U.S./.

By Khanh Phuong