Czech finance firm licensed
09-MAY-2008 Intellasia | State Bank of Vietnam
May 9, 2008 - 7:00:00 AM
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State Bank of Vietnam's permanent deputy governor Tran Minh Tuan on May 6 granted the establishment and business license to PPF Vietnam Finance One Member Limited Co under Czech's PPF Group N.V.
PPF Vietnam Co Ltd is the 100% foreign owned finance company with the chartered capital of 500 billion dong, brining the number of finance companies in Vietnam to 10.
According to License No 112/GP-NHNN signed on April 18, 2008, PPF Vietnam is allowed to raise capital from institutions and individuals under the lending method, issuing of valuable papers, instalment lending, credit card issue and provision of financial consultancy service under the current laws.
PPF Group N.V was formed in 1994 in Netherlands but operates mainly in Czech. By the end of 2006, the group has a total asset of 224,838 million kuron equalling to US$10.7 billion.
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