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VietNamNews

Cooperative bank established

Update: June, 06/2013 - 11:20

HA NOI (VNS)— The Governor of the State Bank of Viet Nam granted a license to establish the Cooperative Bank of Viet Nam at the request of the Central People's Credit Fund on Tuesday.

The bank will be headquartered in Nguyen Thi Dinh street in Ha Noi's Cau Giay District.

Its charter capital will be VND3 trillion (US$142 million) sourced from the State, the fund's members and other legal entities.

The bank, licensed to operate nationwide for 99 years, will be allowed to set up a network of domestic and foreign branches once it secures the central bank's written approval.-VNS


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