Vietcombank receives approval to set up bank in Laos

The State Bank of Vietnam has approved the establishment of the Vietcombank Laos Limited (Vietcombank Laos) in Laos, which is wholly invested by the Bank for Foreign Trade of Vietnam (Vietcombank).

Illustrative photo (Photo: VNA)

 

Vientiane (VNA) – The State Bank of Vietnam (SBV) has approved the establishment of the Vietcombank Laos Limited (Vietcombank Laos) in Laos, which is wholly invested by the Bank for Foreign Trade of Vietnam (Vietcombank).

Vietcombank Laos is headquartered in Vientiane, with a charter capital of 80 million USD.

[Vietcombank proposes plan for new Lao subsidiary]

Vietnambank Laos must be launched within 24 months since the SBV’s approval and Vietcombank is asked to submit a report to the central bank at least 14 days before the opening of the bank.

Earlier, the State Bank of Vietnam also approved the establishment of Vietcombank’s representative office in New York, the US.-VNA

VNA