CTG: CTG’s branch in Germany changed to a subsidiary bank

On April 09, 2012, the State Bank of Viet Nam issued Decision No.2019/NHNN-TTGSNH to allow Viet Nam Joint Stock Commercial Bank for Industry and Trade (VIETINBANK) to establish a subsidiary bank from changing a branch in Germany.

• Name: Viet Nam (Europe) Joint Stock Commercial Bank for Industry and Trade Trade name: VietinBank (Europe) Ltd.
• Address: Reuterweg 44, 60323 Frankfurt, Germany.
• Total estimated investment: EUR 50,000,000, including an initial capital: EUR 25,000,000.

The further capital contribution of VietinBank in the subsidiary bank with particular investments in subsequent years will be considered and approved by the State Bank of Vietnam.

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