Vietnam Saigon Thuong Tin Commercial Bank Nanning Representative Office was settled in Nanning on January 8, 2008, with its office place in Diwang Tower. This representative office has 2 firsts, namely, the first agency established by Vietnamese bank in a foreign country, and also the first office set up by a foreign bank in Guangxi. Saigon Thuong Tin Commercial Bank is the firstVietnamesejoint-stock bank set up in 1991, and its legal capital was 2.089 trillionDong (about US $130 million), of which foreign banks(International Finance Corporationdirectly under theWorld Bank, England Dragon Finance Corporation, andAustralia and New Zealand Bankgroups)accounted for 30%. This bank is also the first stock listed bank in Vietnam, whose stocks were listed on Stock Exchange in September, 2006.
According to the newly published policies in China, foreign banksare allowed to set up agencies in China and then branches 2 years later. IfSaigon Thuong Tin Commercial Bank sets up its agency in Nanning, it will be the first Vietnamese bank who establishes its office in other countries, and also the first office set up by a foreign bank in Guangxi.
SACOM Bank NanningRepresentative Office is located on the 19thfloor of Diwang International Chamber of Commerce, No. 59 Jinhu Road, Nanning City.