The Vietnam International Bank (VIB) has moved its headquarters from Ha Noi to Ben Nghe Ward in HCM City’s District 1, starting from Monday.

VIB’s headquarters are located at the Sailing Tower on Pasteur Street - the heart of District 1, an area which will allow it to better meet customers’ requirements, the bank said in a press release.

“HCM City is a centre of southern economy, having the role to connect and support other cities to develop. It is also the regional and national centre of international trade, culture, creative knowledge, scientific research, high technological transfer, creative industry and the international centre of tourism, finance-commerce and logistics,” VIB’s CEO Han Ngoc Vu said.

According to Vu, VIB’s relocation from Ha Noi to HCM City aims to promote business development and enhance the bank’s brand in the area.

The relocation plan from the Corner Stone Building in Hoan Kiem District’s Phan Chu Trinh Street was approved by shareholders and the State Bank of Viet Nam.

In recent years, VIB has received praise from local and international organisations including positive ratings from the Moody’s and the ‘Bank of the Year’ awards granted by The Banker Magazine (UK) in 2016 and 2017.

In November, VIB became the first commercial joint stock bank in Viet Nam to be approved by the SBV to apply Basel II - the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on banking supervision. — VNS