Public Bank Vietnam

For other uses, see Public bank.
Public Bank Vietnam - Hanoi Branch located at No. 2 Ngo Quyen Street, Hoan Kiem District, Hanoi

Public Bank Vietnam Limited (PBVN) (Vietnamese: Ngân hàng TNHH MTV Public Việt Nam) is a bank based in Hanoi, Vietnam offering financial services in Vietnam. It was transformed from VID Public Bank (VIDPB) - a joint venture between Bank for Investment and Development of Vietnam (BIDV) of Vietnam and Public Bank Berhad (PBB) of Malaysia (MYX: 1295) with equal stake established in May 1992. The transformation completed on March 24th, 2016 and the bank officially commenced operations on April 1st, 2016.

Background

VIDPB was one of the first joint-venture banks in Vietnam when it was established in May 1992. On July 15th, 2014, PBB acquired all BIDV's stake in the joint-venture. On March 24th, 2015, State Bank of Vietnam (SBV) approved in principle that allow VIDPB to transform into a wholly owned subsidiary of PBB. After meeting all SBV's requirements, the bank was officially allowed to transform to Public Bank Vietnam Limited on March 24th, 2016.

After the transformation, it became the 6th bank with 100% foreign ownership in Vietnam (after HSBC Vietnam Limited, ANZ Vietnam Limited, Standard Chartered Bank Vietnam Limited, Shinhan Bank Vietnam Limited and Hong Leong Bank Vietnam Limited). Its registered capital is of VND3 trillion.

The stake acquisition ceremony on July 15th, 2014

Operations

PBVN currently has a network of 7 branches in Vietnam, i.e. in Hanoi (1), Haiphong (1), Da Nang (1), Bình Dương (1), Đồng Nai (1) and Ho Chi Minh City (2).

In total, the bank serves millions of customers in 6 cities / provinces where it operates.

Main competitors

See also

Template:Vietnam-company-stub

This article is issued from Wikipedia - version of the 4/1/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.