Vietcombank becomes first Vietnamese bank to open rep office in US

Saturday, 2019-11-02 17:00:50
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The opening of Vietcombank's representative office in New York (Photo: Vietcombank)
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NDO/VNA - The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) inaugurated its representative office in the US, on November 1.

Located in Manhattan, New York, the office is the first of its kind opened by a Vietnamese commercial bank in the US. The office received a licence from the New York State Department of Financial Services on June 17 this year. Earlier on October 26, 2018, Vietcombank received approval for its application from the US Federal Reserve System.

Ambassador Dang Dinh Quy, head of the Vietnam Permanent Mission to the United Nations, joined representatives from banks, domestic and foreign partners at the opening ceremony.

Chairman of the Vietcombank Board of Directors Nghiem Xuan Thanh said the event proves Vietcombank’s effort towards the goal of becoming the top bank in Vietnam, one of the top 100 in Asia, one of the world’s top 300 financial-banking groups, and one of the world’s 1,000 biggest listed firms globally, as set in its development strategy to 2025 with a vision to 2030.

Thanh said the office will connect with existing and promising clients in the US, make market analysis reports, and attend business seminars to support partners in the country.

In October 2019, Vietcombank was also allowed by the State Bank to open a branch in Australia.