State Bank of Vietnam approves BIDV's Yangon branch

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The State Bank of Vietnam on March 31 granted approval to , or BIDV, to open a branch in Yangon, Myanmar,Vietnam's Bizhub reported April 4.

The Vietnamese bank had previously received from the Central Bank of Myanmarto open the branch in March.

BIDV's Yangon branch will have a charter capital of US$85 million.It will be the first Vietnamese bank branch to open in Myanmar.

The bank also received approvalfrom Vietnam's central bank in January to open a representative office in Moscow.