Maybank to open first representative office

Malayan Banking Berhad, or Maybank would officially open its first representative office at ninth Floor, Sun WahTower 115, Nguyen Hue Avenue, HCM City on October 17 this year in its regional expansion strategy, according to country director of Maybank’s representative office Johnson Yap.
Maybank received a license March 29 from the State Bank of Vietnam and a business license on August 17 from the Ministry of Planning and Investment to set up the branch.
The representative office with total capital of US$15 million will focus on providing loans, commercial concessionary loans, funding projects and retail banking activities.
Maybank’s representative office will have a lifespan of 20 years.

 

Category: Finance