China Construction Bank to expand in Vietnam

National Bank's approval makes CCB first Chinese bank to establish branch in Ho Chi Minh City.

The National Bank of Vietnam has granted China Construction Bank (CCB) license to set up branch in Vietnam's Ho Chi Minh City, CCB announced.

The CCB would offer a wide range of services in its Ho Chi Minh City branch, such as taking deposits, granting loans, offering a domestic and overseas settlement service, and providing trade financing.

The branch will also support the overseas activities of Chinese companies, and service trade and investment between China and the Association of Southeast Asia Nations (ASEAN), according to a report in Trading Markets.

Aside from Ho Chi Minh City, the bank has branches in Hong Kong, Singapore, and Frankfurt.