Sacombank will open a branch each in Thai Binh, Ninh Binh, Nam Dinh, and Lao Cai provinces by closing four others in the south rather than getting new licences.

It has got approval from the State Bank of Viet Nam to close its branches in Tri Ton in An Giang Province, Nam Can Tho in Can Tho, Thanh Binh in Dong Thap, and Thoi Binh in Ca Mau.

It has also been allowed to open four transaction offices under the four new branches.

It has a network of 570 branches and transaction offices in 52 provinces and cities in Viet Nam besides Laos and Cambodia, the largest in the private sector.

Sacombank’s presence in the four provinces is in line with its restructuring plans approved by the State Bank of Viet Nam two years ago.

Sacombank has a presence in all provinces and cities in the south-east, south-west, centre and Central Highlands since 2012. — VNS