Saigon-Hanoi joint stock bank opens Myanmar-based first branch
Thursday, June 29,2017AsemconnectVietnam - The Saigon-Hanoi Commercial Joint Stock Bank (SHB) recently opened its first branch in Myanmar, marking an important step towards expanding its operations in the Southeast Asian region, Lao Dong (Labour) Newspaper reported.
The State Bank of Vietnam (SBV) recently approved SHB’s plan to open new branches in Ha Tinh, Dak Lak, Ha Nam, Binh Dinh and Tay Ninh provinces. These facilities will become operational in the third quarter of this year. Myanmar is a developing economy with huge potential in finance-banking. In 2010, Vietnam and Myanmar signed a joint statement on comprehensive cooperation.
The SBV and the Central Bank of Myanmar signed a memorandum of understanding on banking cooperation, providing a legal framework for Vietnamese banks to enter the country.
Nguyen Van Le, SHB General Director said the expansion of branches in and outside Vietnam is an important goal to improve the quality of its services, business efficiency and competitiveness, adding that SHB aims to become a mufti-functional retail bank in the time ahead.Established in 1993, SHB is among the five largest private commercial banks in Vietnam.
As of September 2016, its total assets hit more than US$10.3 billion. The bank has about 500 transaction sites in Vietnam, Laos and Cambodia.SHB was named the most outstanding foreign bank in Cambodia as well as the best deposit product and brand initiative, and the internet-banking provider in Vietnam.
In 2016, the bank also won several domestic and international honours.
Source: vov.vn
Business activities of steel companies in March 2024
Hoa Phat (HPG) sets a target of VND10,000 billion profit in 2024, paying 10% dividend
PV GAS (GAS) sets a growth target in 2024
Business activities of banks in March 2024
PVOIL (OIL) determined to complete the 2024 management plan of Vietnam Oil and Gas Group
Hoa Phat (HPG) supplied 518,000 tons of steel to the market in February 2024
ACB aims to increase profits by 10% and pay dividends of 25% in stocks and cash
MB expects profit growth of 10% in 2024
GELEX (GEX) target VND1,921 billion profits in 2024
Banks aspire to join billion-dollar profit club
Moody's upgrades outlook for Techcombank
Nam Kim Steel (NKG) plans to hold the 2024 Annual General Meeting of Shareholders at the end of April 2024
Vietnamese, Dutch firms sign aquaculture cooperation deal
Hoang Anh Gia Lai (HAG) expects durian to help revenue increase dramatically in the last 2 quarters of 2024
Plan of Hai Duong province for a period of 2021 - 2030, ...
Organize space reasonably and harmoniously, focusing on connecting Hai Duong in common development space, actively contributing to the ...Plan of Hau Giang province in a period of 2021 - 2030, ...
Sustainable forestry development program in a period of ...
Students promote Vietnamese culture in Russia
The Vietnamese Students’ Association in the Peoples' Friendship University of Russia (RUDN) held an event called "Bamboo Legend” on ...Exhibition on General Vo Nguyen Giap opens in Nghe An
Da Lat festival: Classical music taken out of auditorium ...