The State Bank of Viet Nam gave the nod to Nam A Bank to open five new branches and 30 dealing rooms.

Following the approval of the central bank, Nam A Bank will open five branches in Quang Ninh, Long An, Dak Nong, An Giang and Tien Giang provinces.

Thirty dealing rooms will be opened in ten provinces: Lam Dong, Dong Nai, Ba Ria – Vung Tau, Ben Tre, Ninh Thuan, Dak Lak, Phu Tho, Tay Ninh, Can Tho and Kien Giang. Each province will have three dealing rooms.

The central bank asked Nam A Bank to put these new branches and dealing rooms into operation within the next 12 months.

This was a bold move by Nam A Bank to expand its network.

As of June 30, Nam A Bank now has one head office, one centre and 67 branches and dealing rooms nationwide.

Along with expanding the network, Nam A Bank was planning to raise its charter capital from around VND3 trillion (US$130.5 million) to VND5 trillion.

According to Tran Ngoc Tam, general director of Nam A Bank, the bank reported a pre-tax profit of VND335 billion, three times higher than the same period last year and exceeding its target of the full year.

Recently, the bank received “The Best Customer Loyalty Program Bank Viet Nam 2018” award by the UK’s International Finance Magazine. — VNS