Deagu Bank allowed to establish representative office in HCMC
17/10/2014 03:10
The Governor of the State Bank of Vietnam (SBV) issued License No.75/GP-NHNN on October 14 to permit the Deagu Bank to establish its representative office (rep. office) with the operational duration of five years at Unit No. 1403A, Kumho Asiana Plaza Sai Gon, 39 Le Duan, District 1, Ho Chi Minh City (HCMC).
Accordingly, the rep. office will function as an office of liaison to make market research and promotion of investment projects of the Deagu Bank in Vietnam. It will also promote and monitor the implementation of the contracts and agreements signed between the Deagu Bank and credit institutions and businesses, and the Deagu Bank - financed projects in Vietnam. Moreover, it will conduct other operations in line with law.
The rep. office of the Deagu Bank is required to comply with the Vietnamese law. The Licence took effect on the date of signing.
Source: sbv.gov.vn