wiki globe

Posts Tagged ‘branches’

US, Taiwanese banks licensed to open Vietnam branches

In Uncategorized on October 14, 2010 at 6:26 pm

The State Bank of Vietnam has granted operation licences to America’s First Commercial Bank and the Taipei-based Shanghai Commercial and Savings Bank to open two branches in Vietnam.


First Commercial Bank, a division of Synovus Bank, is chartered in the state of Georgia, the US.


Shanghai Commercial and Savings Bank is currently one of the largest privately held banks in Taiwan.


Mr. Nguyen Van Giau, Governor of the State Bank of Vietnam, presented the licenses to representatives of the two foreign banks in Hanoi on Oct. 6.


The two branches will have US$15 million in chartered capital each and will perform capital mobilization, credit activities and payment services, as well as provide other banking services.

This photo, taken on October 12, 2010, shows an ATM booth under construction next to an operational one on a street in District 5, Ho Chi Minh City – a southern economic hub. (Photo: Thuy Nguyen)

First Commercial Bank will set up a branch in Hanoi.


Shanghai Commercial and Savings Bank will upgrade its operational representative office in Bien Hoa City, the capital of the southern province of Dong Nai, into a branch, according to a bank spokesperson.


The Bien Hoa office was established in March 2006. It will become the bank’s second overseas branch after its Hong Kong branch opened in June 2008, the Taiwanese lender said.


The Dong Nai branch is expected to serve Taiwanese investors in Ho Chi Minh City and its neighboring Binh Duong Province, according to the spokesperson.

Source: SGGP

State bank limits commercial banks to two branches

In Uncategorized on March 24, 2010 at 6:20 am

Commercial banks in Hanoi and Ho Chi Minh City, which have from two or more branches in each city, will temporarily not be allowed to open new affiliates, the State Bank of Vietnam has said.








A branch of Asia Commercial Bank in HCMC. Commercial banks are just allowed to open a maximum of two branches.

In a document on the establishment of transaction offices, branches and transaction departments of commercial banks in 2010, the State Bank said each commercial bank would initially be permitted to open a maximum of two branches.


The State Bank, however, would consider allowing commercial banks to establish more branches once their established affiliates operate well.


To establish transaction departments, commercial banks must have yielded profits, conformed to government standards, classified debts and established risk funds.


According to the document, transaction offices and branches would be allowed to open transaction departments after they have operated profitably for at least one year.


In addition, their bad debt ratio must be lower than 3 percent compared with the total liability at the time they apply to open new transaction departments.


Transaction offices or branches of commercial banks would be able to open only one transaction department at a time, according to the State Bank.





Source: SGGP Bookmark & Share

Non-state schools banned from providing law study branches

In policies on February 26, 2010 at 3:21 pm




Non-state schools banned from providing law study branches


QĐND – Thursday, February 25, 2010, 22:11 (GMT+7)

Tentative regulations that non-state schools are not allowed to teach law, journalism and education have been facing strong opposition from privately founded universities.


The Ministry of Education and Training (MOET) on February 23 released the draft document on the required conditions for providing training branches at universities and junior colleges. The draft document said that non-state schools are not allowed to have law, journalism and education study branches. 


“Why not allow non-state schools to provide law, journalism and education study branches? Is this because non-state schools are just stepchildren of the State?” said Tran Hong Quan, chairman of the association of Non-State Universities and Junior Colleges. 


Quan stressed in talks with VietNamNet that he cannot see any legal foundation for prohibiting non-state schools providing these training branches. 


“I believe that there is no legal regulation that says that non-state schools cannot provide these study branches,” he said. 


He went on to say that the regulations, if approved, will generate discriminatory treatment between state and non-state schools. 


The only difference between state and non-state schools, Quan said, is the ownership. State owned schools are schools run by the state and funded by the state, while non-state schools do not get financial support from the State. Meanwhile, all schools licensed to operate in Vietnam have the common purpose of giving training to people and producing a labor force for society. 


Quan stressed that the State should take action to narrow discriminatory treatment between state and non-state schools. 


“Some say that law and journalism are sensitive study branches which should be undertaken by state schools only. Does it mean that non-state schools are not reliable? Or does it mean that these schools are not put under the management of the State?” he questioned. 


In fact, both non-state and state owned schools are put under the management of the State. Non-state schools are a part of the national education system. 


“MOET should say these or that schools cannot provide these or that study branches because they cannot meet the requirements, not because they are non-state schools,” Quan said. 


Quan said that five years ago, a non-state school in Hanoi sought permission to open an economic study branch. MOET at that time said no’ to the application, because it was a non-state school. However, deputy prime Minister Pham Gia Khiem instructed MOET to give permission if the school could meet the requirements. Finally, the school, after a period of training, has gathered a lot of prestigious economics professors. 


President of Hoa Binh University Dang Ung Van has also protested the tentative regulations on not allowing non-state schools to provide law, journalism and education study branches. 


Van said that the regulations will come contrary to the current laws which say that there must not be any discriminatory treatment to state and non-state schools.


Meanwhile, Tran Thi Ha, Director of the University Education Department under MOET told VietNamNet that in fact, the regulations do not aim to ban schools to provide these study branches. 


“To date, no non-state schools have provided these three study branches,” Ha explained.


Source: VietnamNet


Source: QDND

Standard Chartered to open 30 branches across VN

In Uncategorized on September 17, 2008 at 10:27 am

HA NOI — Standard Chartered Bank has signalled that it plans to open 30 branches in Viet Nam over the next four years, after gaining approval to be the first overseas bank to incorporate their local operations in the country.


Ashok Sud, chief executive of Standard Chartered Bank in Viet Nam, yesterday told reporters in Ha Noi that local incorporation would enable it to be better positioned to help Vietnamese companies raise capital in international markets.


The UK bank expressed confidence in the long-term development of Viet Nam’s economy, saying that, “Given the turmoil in the global and local markets, all investments of the bank in Viet Nam have been thoroughly considered.”


It is expected that Viet Nam’s economy will need an injection of about US$50 billion. Foreign banks will need to supply some of that capital.


The liberalisation of the banking sector comes amid a worsening economic backdrop in Viet Nam, with annual growth revised down to 7 per cent and credit growth limited to control double-digit inflation.


But Viet Nam remains attractive, because it is one of the least penetrated markets in Asia, with just 1 in 10 of its 87 million population holding a bank account.


Sud added that the effective controls the Government put in place to curb inflation and stabilise the economy demonstrated a sure touch.


In terms of market share in Viet Nam, some 40 foreign banks account for less than 10 per cent of total lending in the country. Over the next 5-10 years, local banks are still expected to hold an 85 per cent market share.


However, the participation of foreign banks like Standard Chartered will help domestic enterprises access high quality banking services.


Standard Chartered Bank owns a 15 per cent stake in Asia Commercial Bank (ACB). The UK bank said it had no plans to increase its investment in ACB at this time. In contrast, HSBC has increased its stake in Techcombank from 15 per cent to 20 per cent.


Standard Chartered Bank opened its first branch in Viet Nam in 1904. The bank has two branches in the country, the maximum permissible. They focus on serving the wholesale banking needs of Asia-based companies in the country.


Standard Chartered Bank plans to sign a contract today to loan the Vinacomin group $58 million. —

Standard Chartered to open 30 branches across Vietnam

In Uncategorized on September 16, 2008 at 9:38 am

Hanoi (VNA) – Standard Chartered Bank has signalled that it plans to open 30 branches in Vietnam over the next four years, after gaining approval to be the first overseas bank to incorporate their local operations in the country.

Ashok Sud, chief executive of Standard Chartered Bank in Vietnam, on September 15 told reporters in Hanoi that local incorporation would enable it to be better positioned to help Vietnamese companies raise capital in international markets.

The UK bank expressed confidence in the long-term development of Vietnam ’s economy, saying that, “Given the turmoil in the global and local markets, all investments of the bank in Vietnam have been thoroughly considered.”

It is expected that Vietnam’s economy will need an injection of about 50 billion USD. Foreign banks will need to supply some of that capital.

The liberalisation of the banking sector comes amid a worsening economic backdrop in Vietnam, with annual growth revised down to 7 percent and credit growth limited to control double-digit inflation.

But Vietnam remains attractive, because it is one of the least penetrated markets in Asia , with just 1 in 10 of its 87 million population holding a bank account.

Sud added that the effective controls the Government put in place to curb inflation and stabilise the economy demonstrated a sure touch.

In terms of market share in Vietnam , some 40 foreign banks account for less than 10 percent of total lending in the country. Over the next 5-10 years, local banks are still expected to hold an 85 percent market share.

However, the participation of foreign banks like Standard Chartered will help domestic enterprises access high quality banking services.

Standard Chartered Bank owns a 15 percent stake in Asia Commercial Bank (ACB). The UK bank said it had no plans to increase its investment in ACB at this time. In contrasts, HSBC has increased its stake in Techcombank from 15 percent to 20 percent.

Standard Chartered Bank opened its first branch in Vietnam in 1904. The bank has two branches in the country, the maximum permissible. They focus on serving the wholesale banking needs of Asia-based companies in the country.

Standard Chartered Bank plans to sign a contract to loan the Vinacomin group 58 million USD on September 16.-