BIDV opens branch in Myanmar

Late last week, the Myanmar Government and the Central Bank of Myanmar granted branch-opening licenses to foreign banks- BIDV, E.SUN Commercial  Bank (Taiwan-China),  Shinhan Bank (the Republic of Korea) and the State Bank of India.

This is the second time the Myanmar Government has licensed foreign banks and earlier in October 2014, nine foreign banks opened their branches in the country.

The BIDV is the first Vietnamese bank to open its branch in the land of the Golden Pagoda.

The BIDV branch is set for inauguration at HAGL-Yangon Complex in Yangon this year with an initial investment capital of US$85 million.