THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Commercial bank network extended for safety and effectiveness
VNGOP - The State Bank just issued the Regulations on Commercial Bank Network to assist all commercial banks in expanding their activities safely and fruitfully as well as ensuring fair competition.
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Each commercial bank can open only one transactional office |
Under the new regulations, commercial banks have the rights to open and close their head offices, branches, representative offices, non-productive units, transactional offices, saving funds, and ATMs.
Within a year since the Regulations’ date of coming in force, every commercial bank has to restructure its existing head offices, representative offices, transactional offices, saving funds, branches, ATMs and credit groups.
The State Bank entrusts its branches in all cities and provinces to supervise the inauguration and closing of transactional offices, branches, representative offices, non-productive units, saving funds, and ATM run by commercial banks in their localities.
By Thanh Thúy