Asia Commercial Bank to Build Office Block in Da Nang

The Asia Commercial Bank is planning to build a 12-story office block in Da Nang at an estimated cost of VND60 billion, or about US$3.75 million.
Besides being the ACB’s regional headquarters, the new building at 218 Bach Dang Street, Hai Chau District will contain offices for lease. It will cover more than 7,200 square meters and should be ready by April 2008.

In the first half this year, the bank’s Da Nang branch took in VND316 billion in deposits and lent out nearly VND190 billion.

Based in Ho Chi Minh City, the ACB is one of the top private banks in Viet Nam and is seeking to improve its competitive edge in anticipation of Vietnam joining the World Trade Organization by this November.

In July 2006, the ACB was named Best Bank in Viet Nam in 2005 by Euromoney Magazine, a journal of global capital and money markets. In June, it was named Viet Nam Retail Bank of the Year 2005 by The Asian Banker magazine.

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Reported by Tuong Thuy

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