Malaysia’s Public Bank Vietnam opens new branch in Ho Chi Minh City

December 27, 2022 | 09:48

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The State Bank of Vietnam (SBV) has just issued Document No.8930/NHNN-TTGSNH dated December 20, approving Public Vietnam Bank's eligibility to operate another branch in the country.

Malaysia’s Public Bank Vietnam opens new branch in Ho Chi Minh City

The SBV authorised Public Vietnam Bank Ltd. to open one more branch in Ho Chi Minh City. The bank was established and operates under a banking license with a validation of 99 years from 2016.

Public Bank Vietnam is a wholly-owned subsidiary of Malaysia's Public Bank Berhad – one of the nation's largest financial institutions along with Maybank and CIMB.

Public Bank Vietnam transformed itself from VID Public Joint Venture Bank, one of the first joint venture banks in Vietnam. It was founded in 1992 with capital contributions from Vietnam’s BIDV and Malaysia’s Public Bank Berhad.

Currently, Public Bank Vietnam operates 32 branches and transaction offices across Vietnam.

Intensifying bilateral trade and investment links between Vietnam and Malaysia

Vietnam and Malaysia will officially soon have an additional feasible driver for expanding their trade and investment ties – both of which are now on the rise.

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According to an HSBC Research report, 2022 was a year of booming recovery for Vietnam, making the country one of the best performers in Asia.

Citi Vietnam receives 2022 Amcham CSR Award

Citi Vietnam has been recognised by the American Chamber of Commerce in Hanoi at its eighth annual AmCham CSR Recognition Awards, honouring its members’ best corporate social responsibility programmes in Vietnam.

By Trung Duong

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