STB: Closing a representative office in China

Saigon Thuong Tin Commercial Joint Stock Bank (SACOMBANK) has announced closing a representative office in China as follows:

* The Nam Ninh Office ran over 02 years in China from Jan. 08, 2008 to now. However, SACOMBANK did not satisfy a condition of total asset at USD20 billion for a representative office in China.

* Therefore, on 19 July 2010, SACOMBANK was approved to close the office under the Law.

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