On May 25, 2018, the State Bank of Vietnam (SBV) issued documents approving the proposal to establish five branches and six transaction offices of Tien Phong Joint Stock Commercial Bank (TPBank, coded TPB).
Specifically, TPBank was approved by State Bank Governor of the proposal to establish branches in such provinces as Thai Nguyen, Lao Cai, Quang Nam, Tien Giang and in District 2, HCM City.
Also in these documents, the Governor allowed TPBank to establish six transaction offices, of which, four transaction offices were opened in HCM City including District 3 Transaction Office (directly under Saigon branch) No.281 Hai Ba Trung, Ward 8, District 3; District 8 Transaction Office (directly under Saigon branch)No.35 Duong Ba Trac, Ward 1, District 8; District 10 Transaction Office (directly under Saigon branch) No.27, 3 thang Hai road, Ward 11, District 10; District 12 Transaction office (directly under Saigon branch) No. 154 Truong Chinh, Tan Hung Thuan ward, District 12.
In addition, TPBank was also allowed to open Ngo Quyen Transaction Office (directly under Hai Phong branch) at No.143, Block C7, Le Hong Phong, Dang Hai ward, Ngo Quyen district, Hai Phong city; Hai Chau Transaction Office (directly under Da Nang branch) at No.475 Hoang Dieu, Hoa Thuan Dong ward, Hai Chau district, Da Nang city.
The State Bank required TPBank to be responsible for implementing procedures for the opening of operations, registration and publication for the transaction offices and branches approved to be established under the regulations in Circular No. 21/2013/TT-NHNN dated September 9, 2013 on operation network of commercial banks and relevant regulations of current laws.
After 12 months from the signing date of these documents, if TPBank does not inaugurate operations of the approved transaction offices and branches, the approval document of the State Bank shall naturally expire.
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