Public Bank Vietnam

Public Bank Vietnam Limited (PBVN) (Vietnamese: Ngân hàng TNHH MTV Public Việt Nam) is a bank based in Hanoi, Vietnam, offering financial services in Vietnam. It was transformed from VID Public Bank (VIDPB) - a joint venture between Bank for Investment and Development of Vietnam (BIDV) of Vietnam and Public Bank Berhad (PBB) of Malaysia (MYX: 1295) with equal stake established in May 1992. The transformation completed on March 24th, 2016 and the bank officially commenced operations on April 1st, 2016.

For other uses, see Public bank.
Public Bank Vietnam - Hanoi Branch located at No. 2 Ngo Quyen Street, Hoan Kiem District, Hanoi

Background

VIDPB was one of the first joint-venture banks in Vietnam when it was established in May 1992. On July 15th, 2014, PBB acquired all BIDV's stake in the joint-venture. On March 24th, 2015, State Bank of Vietnam (SBV) approved in principle that allow VIDPB to transform into a wholly owned subsidiary of PBB. After meeting all SBV's requirements, the bank was officially allowed to transform to Public Bank Vietnam Limited on March 24th, 2016.

After the transformation, it became the 6th bank with 100% foreign ownership in Vietnam (after HSBC Vietnam Limited, ANZ Vietnam Limited, Standard Chartered Bank Vietnam Limited, Shinhan Bank Vietnam Limited and Hong Leong Bank Vietnam Limited). Its current charter capital is of VND6 trillion.

The stake acquisition ceremony on July 15th, 2014

Operations

PBVN currently has a network of 12 branches, i.e. in Hanoi (3), Haiphong (1), Da Nang (2), Bình Dương (1), Đồng Nai (1) and Ho Chi Minh City (4). Besides, it also has 6 transaction bureaus, i.e. in Hanoi (2) and Ho Chi Minh City (4).

In 2019, the bank plans to open 4 new branches (i.e. in Hanoi (2) and Ho Chi Minh City (2)) and 3 new transaction bureaus in Ho Chi Minh City. In total, the bank will have a network of 16 branches and 9 transaction bureaus.

Currently, the bank serves millions of customers in 6 cities / provinces where it operates.

Main competitors

See also
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.