Leading state bank turned into joint-stock

The Vietnam Foreign Trade Bank, Vietcombank, has received a licence to become a joint-stock bank from its previous state-owned commercial status.

Under the licence recently signed by the State Bank of Vietnam (SBV) Governor, Vietcombank has a charter capital of more than 12.1 trillion VND and an operation term of 99 years.

It can operate both at home and abroad in line with national law.

The SBV Governor has also granted a licence of operation to the Song Da Financial Joint-Stock Company with a charter capital of 500 billion VND and a 50-year term in the country.

VNA

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