UOB Receives Preliminary Approval to Set Up a Foreign Owned Subsidiary Bank in Vietnam
UOB became the first Singapore bank to receive a preliminary approval from the State Bank of Vietnam to set up a foreign owned subsidiary bank.
“Under the licence, the Bank will be able to expand its branch network in Vietnam.”
Under the licence, the Bank will be able to expand its branch network in Vietnam, thereby enabling UOB to extend financial support and to offer best-in-class products and service to consumers and businesses beyond Ho Chi Minh City.
News Source: UOB Press Release
About United Overseas Bank
United Overseas Bank (UOB) was founded by Datuk Wee Kheng Chiang, incorporated on 6 August 1935 as the United Chinese Bank — the change of the name was effected in 1965. Today, the UOB Group has a network of more than 500 offices in 19 countries and territories in Asia Pacific, Western Europe and North America. UOB provides a wide range of financial services through its global network of branches, offices, subsidiaries and associates: personal financial services, private banking, commercial and corporate banking, investment banking, corporate finance, capital market activities, treasury services, futures broking, asset management, venture capital management, insurance and stockbroking services.
- Origin : Singapore
- Assets : $316 billion
- Revenue : $8.05 billion
- Employees : 26,166
Official Website: www.uobgroup.com
News & Media: Press Release
Updated on 8th August 2016