Vietnamese banks are stepping up plans to expand their markets globally rather than focusing only on the Indochina region.

At a recent annual general meeting, Commercial Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank) chairman Nghiem Xuan Thanh said the bank planned to open a branch in Australia this year.

Vietcombank is also expected to open a representative office in the US in July after receiving approval from the US Federal Reserve. With the expected launch, Vietcombank will become the first commercial bank in Vietnam to set up a repr…
Banking Industry News