Five more joint stock banks to be set up

Five more joint stock banks to be set up

09/01/2008 -- 11:49 AM

Ha Noi (VNA) – Five more commercial joint stock banks will be established, the State Bank of Viet Nam (SBV) Deputy Governor Nguyen Dong Tien said on January 8.

Tien told a press briefing in Ha Noi that the SBV has approved in principle the applications for setting up the Energy, the Asian Foreign Trade, the Star, the Bao Tin and the Indochina Thuong Tin banks. These banks will operate on a minimum chartered capital of 1 trillion VND each.

The SBV had earlier approved the establishment of four commercial banks, namely Bao Viet, PetroVietnam, FPT and Lien Viet, and has planned to license six wholly foreign-owned bank subsidiaries soon, Tien said.

According to him, the SBV will continue to restructure the system of credit organisations and promote non-cash payment and retail banking service this year alongside completing draft laws on credit organisations, the state bank, the supervision of banking operation safety and savings deposits insurance.-Enditem
(VNAgency)