Bangkok--10 Sep--Bangkok Bank
Bangkok Bank, with recognition from the State Bank of Vietnam, has received a 99-year license to operate banking services in Vietnam. The license is an extension of the current 20-year license that will expire this year; Bangkok Bank has been operating in Vietnam for more than 50 years. The new 99-year license recognizes Bangkok Bank’s strength, resilience, experience and expertise in banking in the local market and its readiness for the ASEAN Economic Community (AEC).
Bangkok Bank Executive Vice President Chaiyarit Anuchitworawong said it is a great honour for Bangkok Bank’s branches in Vietnam to receive a new 99-year license, the longest license given to a foreign bank. The license reflects the State Bank of Vietnam’s confidence in Bangkok Bank and is an extension of the current 20-year license, which will expire at the end of this year. The new license enables Bangkok Bank’s Ho Chi Minh City and Hanoi branches to service customers until 2111.
“The license reflects the State Bank of Vietnam’s confidence in Bangkok Bank’s operations and experience, with more than 50 years as a leading foreign bank in Vietnam. Bangkok Bank has received great recognition and trust from the people of Vietnam and the Vietnamese government, proudly accepting a Certificate of Merit for banking excellence from 2008-2010 from the State Bank of Vietnam,” said Mr. Chaiyarit.
Bangkok Bank originally opened a branch in Saigon in 1961; however, the branch was closed in 1975 due to war. At the end of the war, Bangkok Bank was the first foreign bank to open operations in Vietnam, with the Ho Chi Minh and Hanoi branches opening in 1992 and 1994 respectively. The bank appointed Tharabodee Serng-Adichaivit as General Manager in charge of overall operations and customer service in Vietnam. Bangkok Bank is able to service Thai customers in Vietnam, as well as Vietnamese and foreign investors seeking opportunities in Vietnam further to the AEC integration due to its strong foundation, deep understanding of the needs of its customers and the Vietnamese market, and its relationships with Vietnam’s private and government sectors. Bangkok Bank is well prepared to support customers’ businesses in Vietnam and connect their business networks across the globe, Mr. Chaiyarit added.
Expanding its foreign network is a key strategy of Bangkok Bank, reinforcing its commitment to serve customer needs worldwide. Bangkok Bank has 26 branches in 13 economies, including local banks and a representative office. With such a strong and broad international branch network, Bangkok