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| A HDBank office. The bank will open a representative office in Myanmar. — Photo tinnhanhchungkhoan.vn |
HCM CITY (Biz Hub) — The HCM City Development Bank, or HDBank, was given approval by the State Bank of Viet Nam, on Wednesday, to open a representative office in Yangon City, Myanmar.
The office is to be opened within two years, and its tenure of operation in the country will be 30 years. It will be subjected to Viet Nam's laws on overseas investment, as well as Myanmar's laws on banking.
HDBank also got the nod to open a northern office in Ha Noi's Hoan Kiem District within a year. — VNS