The massive opening of new commercial bank branches would be barred until early next year as part of banking authorities’ bid to secure the system.
The central bank is drafting a document on halting the approval of new openings of commercial banks’ branches and transaction bureaus in a number of provinces and cities.
The document stated that the halt aimed to secure the operational safety of the commercial bank system in Vietnam. However, new openings might be permitted for banks which had not any branches in these provinces and cities. Commercial banks would also have a chance to open more units outside those localities.
The central bank was also going to extend the deadline of its regulations set in Document 3929/NHNN-CNH which require commercial banks to open a branch in a province or city before opening transaction points in that locality instead of opening transaction bureaus under a branch in another province or city through 2010.-