OREANDA-NEWS. On 27 March 2008, a new Branch of Vietnam-Russia Joint Venture Bank (VRB) was opened in Ho Chi Minh, the most dynamically developing city in Vietnam.

The Branch will offer a full range of banking services to VRB corporate customers in the South of Vietnam, the most developed economic region of the country. The greater part of export-import and trade activities between Vietnam and foreign countries, including Russia, is concentrated in Ho Chi Minh, a large financial centre in the country. It is ranked first in terms of opened banks and in the volume of financial operations.  

Among the core lines of the new Branch business will be participation in project lending, trade financing, export and import financing, international and internal settlements, bank guarantees and money transfer. The VRB Branch will be headed by Mr. Le Nong, who was earlier Deputy Director in the Daklak Branch of the Bank for Investment and Development of Vietnam (BIDV).

Opening of the VRB Branch in Ho Chi Minh will contribute to enhancing the Bank’s customer base and retail operations.