Vietnam International Bank (Upcom: VIB) has moved its headquarters from Hanoi, Vietnam to Saigon from December 17th 2018.
VIB’s headquarters located in Pasteur Street, District 1 – the heart of Ho Chi Minh City (Saigon), an area which will allow it to better meet customers’ requirements, the bank said in a press release.
“Saigon is the economic hub of Vietnam, having the role to connect and support other cities to develop. It is also the regional and national centre of international trade, culture, creative knowledge, scientific research, high technological transfer, creative industry and the international centre of tourism, finance-commerce and logistics,” said VIB’s CEO Han Ngoc Vu
According to Vu, VIB relocates its headquarters form Hanoi to Saigon to promote business development and enhance the bank’s brand awareness in the area.
The relocation plan of the bank has been endorsed by its shareholders and approved by Central Bank of Vietnam.
In recent years, VIB has received praise from local and international organizations including positive ratings from the Moody’s and the ‘Bank of the Year’ awards granted by The Banker Magazine @ Financial Times (UK) in 2016 and 2017.
In November 2018, VIB became the first private bank in Vietnam to be approved by the SBV to apply Basel II – the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on banking supervision.