The State Bank of Vietnam (SBV) on August 22, 2014 issued documents approving the proposal on establishment of 5 more branches of Military Commercial Joint Stock Bank (MB).
Accordingly, SBV allows MB to open 5 branches in Ha Noi, Binh Phuoc, Phu Quoc, Son La and Hoa Binh.
MB shall take responsibility for inaugurating operations and registration of those branches.
After 12 months from the date of signing of those documents, if MB doesn’t open the approved branches, the documents are no longer valid.
According to MB’s financial statements for the Quarter 2/2014, as of June 30, MB has 60 domestic branches in the country and 2 overseas branches. After the central bank’s approval, the number of MB’s domestic branches MB will increase to 65.
Source StoxPlus