| Japanese bank to open second branch in Vietnam |
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4/25/2009 11:40:00 AM The State Bank of Vietnam has granted a license to Japan’s Sumitomo Mitsui Banking Corp. (SMBC) to open a branch in Hanoi, its second in Vietnam. The branch will have a registered capital of US$15 million, the central bank said in a statement on its website. SMBC opened its first branch in Ho Chi Minh City in December 2005, also with a registered capital of $15 million.
Standard Chartered, HSBC Holdings and Australia and New Zealand Banking Group (ANZ) this year received approval from the Vietnamese government to run fully foreign-owned units.
A total of 29 overseas banks have branches and another 38 foreign lenders have opened offices in Vietnam, according to the central bank’s website. |
| Thanh Nien |