Two more foreign banks licensed in Vietnam

The State Bank of Viet Nam , on Dec. 29, licensed two foreign banks to set up their wholly foreign-invested banks in Vietnam .

The Republic of Korea ’s Shinhan Vietnam Bank with a charter capital of 1.67 trillion VND, and Malaysia ’s Hong Leong Vietnam Bank with 1 trillion VND, will operate in the form of one-member limited liability banks.

They will perform professional operations in capital mobilisation, credit, payment and funding.

Foreign currency services will be offered once they are permitted by the State Bank of Vietnam.

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