SBV approved the establishment of the bank with 100% ownership of VietinBank in Laos

22/01/2015

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) received Dispatch No.216/NHNN-TTGSNH dated 13th January 2015 of the State Bank of Vietnam (SBV) on the establishment of the bank with 100% ownership of VietinBank in Laos.

Accordingly, SBV approved the establishment of the bank with 100% ownership of VietinBank in the People's Democratic Republic of Laos by switching from Lao branch, as follows:

- Name: Vietnam Limited Bank for Industry and Trade in Laos.

-English name: VietinBank (Lao) Limited.

- Trading name: VietinBank (Lao) Ltd.

-Address: No.29, Khounboulom Street, Vatchan Village, Chanthabouly District, Vientiane, People's Democratic Republic of Laos.

-Charter Capital: 50,000,000 USD (Fifty million US Dollar).

-Duration of operation: the remaining duration of VietinBank.

-Activities: Activities that VietinBank are allowed to perform in accordance with the laws and regulations of Vietnam and the People's Democratic Republic of Laos.