Public Bank Vietnam (PBVN), a wholly-owned subsidiary of Malaysia’s Public Bank Bhd, secured approval from the State Bank of Vietnam (SBV) in early July to open three additional branches and two more transaction offices this year in Hanoi, Ho Chi Minh City, and Da Nang, bringing its branch numbers in the country to 19. The move is in line with its aim of expanding its network and customer reach in Vietnam, and a growing number of other foreign players are also looking to capture the wealth of opportunities in the country’s banking sector, with South Korean banks leading the charge. South Korean lenders have been eagerly expanding their foothold in the country. Woori Bank received licenses from the SBV in June to open five more branches in northern and southern cities together with a transaction office in Ho Chi Minh City’s District 7. Shinhan Bank, meanwhile, opened four branches and transaction offices in Ho Chi Minh City and Hanoi in May, beefing up its … [Read more...] about Local banking appeal broadens