SBV grants permission to bank to open new branch and 13 transaction points.
KienLongBank has gained approval from the State Bank of Vietnam (SBV) to open a new branch and 13 more transaction offices in 2016, bringing to 117 its branches and transaction offices nationwide, in most cities and provinces.
Under Official Document No. 1014/NHNN-TTGSNH dated February 25, it was authorized to open a branch in Nha Be district, Ho Chi Minh City, and 13 transaction offices, in La Gi and Ham Tien in Binh Thuan province, Buon Ho in Dak Lak province, Tran Van Thoi and Nam Can in Ca Mau province, Thap Muoi in Dong Thap province, Nga Bay in Hau Giang province, Can Giuoc in Long An province, Thanh Tri in Soc Trang province, Cai Lay and Go Cong in Tien Giang province, and Ba Ria and Tan Thanh in Ba Ria Vung Tau province.
KienLongBank has in recent years invested heavily in technology, staff, and its operational network along with retaining stable business growth. In the 2012-2015 period total assets increased by an average of more than 10 per cent annually, outstanding credit by 18.76 per cent, and capital mobilization by 23.58 per cent. Its bad debt ratio has been controlled at under 2.5 per cent while other limits and safety ratios meet SBV regulations.
The bank hopes its network expansion will contribute to its plan to develop distribution channels, increase the number of clients, and enhance its competitive capacity in the domestic market.