First Vietnamese bank licensed to establish branch in Myanmar

Bank for Investment and Development of Vietnam (BIDV) is among four foreign banks licensed by the Central Bank of Myanmar to establish branches in the country, according to BIDV.

The four banks include BIDV, Taiwanese E.Sun Commercial Bank, South Korean Shinhan Bank and State Bank of India.

BIDV has become the first Vietnamese bank permitted to set up branch in Myanmar.

According to plan, the branch will come into operation this year with the initial capital of US$85 million.

By Bao Minh – Translated by Hai Mien

Other news


Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

SGN lists 24million shares on HOSE

 Saigon Ground Services JSC (under code: SGN) will list on the Ho Chi Minh City Stock Exchange (HOSE) 24 million shares for the first time starting on August 1st at a reference price of VND 140,000 per share.