Third US Bank Officially Opens Branch in Vietnam

3:26:23 PM | 7/8/2005

Third US Bank Officially Opens Branch in Vietnam


The Far East National Bank (FENB) officially opened its first branch in
Vietnam’s economic hub Ho Chi Minh City on October 22, becoming the third American bank to enter the fast-developing country after Citibank and JP Morgan Chase Bank.

 

The branch has a total paid-up capital of US$15 million [the minimum sum for being allowed to open a branch] and a license period of 20 years.