Vietinbank allowed to do factoring

The State Bank of Vietnam (SBV) issued, on March 31, Decision No. 744/QD-NHNN to permit the Vietnam Bank for Industry and Trade (Vietinbank) to conduct factoring.

Accordingly, the Vietinbank is allowed to conduct factoring operations in the domestic market and import-export in line with Decision No. 1096/QD-NHNN dated September 6, 2004 on regulations of factoring operations of credit institutions and Decision No. 30/2008/QD-NHNN dated October 16, 2008 on amending Decision No. 1096/QD-NHNN and other relevant regulations.

This decision will facilitate the Vietinbank to diversify its products and services and to create more conveniences for its customers.

sbv

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