SBV Governor meets with International Banking Group Wells Fargo and Co. Senior Vice President

Governor Nguyen Van Giau of the State Bank of Vietnam (SBV) had a meeting with Mr. James Cullen, Senior Vice President of International Banking Group Wells Fargo & Co, in Hanoi on January 16 on the occasion of his visit to Vietnam.

The SBV Governor exchanged his views the guest on the global and domestic economic situation. He affirmed that Vietnam is very consistent in its policy of attracting foreign investments. In the banking area, he said, Vietnam has pursued an open-door policy of fast integration. Mr. Giau added that the Government in general and SBV in particular have always facilitated foreign banks to operate effectively in Vietnam over the long term.

For his part, Mr. James Cullen took this occasion to inform that International Banking Group Wells Fargo & Co. has completed the procedures to merge Wachovia Bank into Well Fargo to become one of the three biggest banks in the United States.

The International Banking Group Wells Fargo & Co is a multi-sectoral financial group with the total assets of around US$ 622 billion and more than 276,000 employees worldwide. The Bank is providing such services as banking, insurance, investment, mortgage and consumer credit. The group has been rated AA+ by the Standard & Poor (S&P).

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