Vietnam Public Commercial Joint Stock Bank makes its debut
(VOV) - The State Bank of Vietnam’s Deputy Governor Dang Thanh Binh granted a license to the Vietnam Public Commercial Joint Stock Bank (PVcom Bank) in Hanoi on October 3.
The PVcomBank was established following the merger of the PetroVietnam Finance Joint Stock Corporation (PVFC) and the Western Commercial Joint Stock Bank.
PVcomBank has total assets of over VND9,000 billion with a charter capital of over VND100,000 billion.
PVcomBank aims to provide services such as mobilization of capital, payment and development of retail services, allocation of capital to major projects, foreign exchange services in both local and international market. It has a network of 102 transaction branches throughout the country.
SBV Deputy Governor Dang Thanh Binh expressed his wish that with the advantages of two large-scale credit organizations and modern financial management technologies, PVcomBank will become one of Vietnam’s largest trading banks.
SBV is committed to creating the most favorable conditions for PVcomBank to operate stably and effectively in the future.