IVB allowed to extend duration of operations

The Governor of the State Bank of Vietnam (SBV) issued Decision No.1525/QĐ-NHNN on June 24 to allow the IndovinaBank (IVB), a joint-venture between the Vietnam Bank of Industry and Trade and the Cathay United Bank of Taiwan, to extend the duration of its operations for 20 years.

This Decision is an integral part of License No.08/NH-GP dated October 29, 1992 by the SBV to allow the IVB to establish its joint-venture bank in Vietnam.

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