Public Bank Vietnam
Public Bank Vietnam Limited is a bank based in Hanoi, Vietnam, offering financial services in Vietnam. It was transformed from VID Public Bank - a joint venture between Bank for Investment and Development of Vietnam of Vietnam and Public Bank Berhad of Malaysia with equal stake established in May 1992. The transformation completed on March 24, 2016, and the bank officially commenced operations on April 1, 2016.
Background
VIDPB was one of the first joint-venture banks in Vietnam when it was established in May 1992. On July 15, 2014, PBB acquired all BIDV's stake in the joint-venture. On March 24, 2015, State Bank of Vietnam 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 24, 2016.After the transformation, it became the 6th bank with 100% foreign ownership in Vietnam. Its current charter capital is of VND6 trillion.
Operations
PBVN currently has a network of 17 branches, i.e. in Hanoi, Haiphong, Da Nang, Bình Dương, Đồng Nai and Ho Chi Minh City. Besides, it also has 9 transaction bureaus, i.e. in Hanoi and Ho Chi Minh City.Currently, the bank serves millions of customers in 6 cities / provinces where it operates.