Central bank allows SCB to close 2 branches

State Bank of Viet Nam gave its nod to Saigon Commercial Bank (SCB) to close two of its branches in Tra Vinh Province and Can Tho City. The move is aimed at restructuring the bank’s network for better operation efficiency. Accordingly, Tra Vinh 1 branch, located on Nguyen Dang Street, Tra Vinh City, and Ninh Kieu Branch, located on Vo Van Tan Street, Can Tho City, will cease to operate. SCB said all interests of customers who had accounts in these two branches would be maintained with no changes. After the closure of these two branches, SCB will have one branch and five transaction offices in Can Tho, in addition to one branch and one transaction office in Tra Vinh. At the end of 2017, SCB was licenced to open two new branches in Thanh Hoa and Thai Binh Provinces and nine transaction offices in other localities, which would bring its network to 239 transaction offices in 28 provinces and cities nationwide. — VNS

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