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MARKETS | Cesar Tordesillas, Vietnam
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Vietnam's Vietinbank establishes subsidiary bank in Germany

Vietinbank has been allowed in principle by the State Bank of Vietnam to set up a subsidiary bank in Germany.

 

The Vietinbank (Europe) Ltd is located at No. 44 on Reuterweg street in Frankfurt am Main city, with an estimated capitalization of Euro 50 million.

Before operating with its charter capital of Euro 25 million, it will have to complete legalprocedures in line with Germany’s regulations in 24 months dating from April 9.

 

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