Malaysia's CIMB Bank gets licence for Vietnam subsidiary: Vietnam central bank
Published Thu, Sep 29, 2016 · 12:19 PM
[HANOI] Vietnam's central bank on Thursday granted Malaysia's second-biggest bank CIMB Bank Berhad a licence to open a 100 per cent foreign owned bank in Vietnam, the State Bank of Vietnam said on its website.
The newly established bank will have a registered capital of 3.2 trillion dong (S$190 million) and can operate for 99 years, the central bank's statement said.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
UBS weighs synthetic risk transfer amid capital boost proposals
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge