First Vietnamese bank opens branch in Europe

The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) inaugurated its branch in the German city of Frankfurt on September 6, becoming the first Vietnamese bank to open a branch in Europe.

The event was attended by Vietnamese Deputy Prime Minister Hoang Trung Hai, representative from the Hessen State government’s Prof. Dr. Luise Hoelscher, President of the Bundesbank’s Frankfurt Regional Office Hans – Joachim Kohse, and Vice Governor of the Central Bank of Vietnam Nguyen Dong Tien.

At the event, Deputy Prime Minister Hoang Trung Hai said that this activity was a vivid manifestation of the increasingly wide and effective cooperation between Vietnam and Germany in general, and between Vietnam and Hessen state in particular, marking VietinBank’s strategic move at the leading financial centre of Europe and the world.

VietinBank chairman, Pham Huy Hung said that the new branch is now ready to provide banking services to Vietnamese community, and individuals and businesses in Germany, as well as information on business opportunities in Vietnam, helping link international and trade activities between Vietnam and Germany effectively.

On the occasion, Deputy PM Hai also received representatives of Vietnamese businesses in Germany, Czech and Poland.

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