Vietcombank opens five new branches in HCM. — Photo vietcombank

HCM CITY (Biz Hub) — The JSC Bank for Foreign Trade of Viet Nam (Vietcombank or VCB) on March 14 opened five new branches in HCM City's Districts 2, 8, 9, Binh Chanh and Go Vap.

The new branches bring the total number to 96 across the country, including 17 in HCM City.

Nghiem Xuan Thanh, chairman of VCB, said the total credit balance of VCB in HCM City reached VNĐ96 trillion (US$4.30 billion), accounting for one-fourth of the system's total credit balance.

VCB has the largest credit market share in the city.

Le Van Khoa, vice chairman of HCM City's People's Committee, said the city would create the most favourable conditions for all the commercial banks to develop their network in the city.

The city has developed several programmes to connect banks with enterprises to help sustain sustainable growth of the city.

VCB targets becoming the number one bank in Viet Nam and one of the top world's 300 largest credit institutions conforming to intentional norms and laws by 2020.

The bank has developed bank-agency relations with more than 1,800 banks in more than 176 nations and territories in the world.

VCB also plans this year to open five more branches in Hai Phong, Da Nang, Phu Quoc, Hung Yen and Binh Phước. — VNS