Vietncombank - dissapeared

Vietinbank is one of the four fully government owned banks.  I don't think it is going away just because your preferred branch closed.  Search on google maps and lots of other branches pop up.  You will just have to ride a little further from home.  The other fully government banks are Vietcombank, Agribank and MHB (Housing Bank of Mekong Delta).  The last is relatively small.  MB (Military Bank) is now apparently a Joint-stock bank.  I always felt it was rather ironic that the government owned banks in a socialist country were named using the language of the pillars of capitalism.

sorry I meant Vietcombank...

I've been looking at buying some stock in Vietinbank, the largest Joint Stock owned bank in Viet Nam. I believe that it was government owned many years ago.

https://en.wikipedia.org/wiki/Vietinbankhttp://www.vietinbank.vn/web/home/vn/index.html

Vietcombank is a smaller bank and has been in negotiations about it's being sold or merged.

My info may be out of date.  I still think that the majority government position in these banks should make them a safe place for deposits.  Even if they sell off a portion, Hanoi will not let the banks that I listed fail.  This is not true of some of the other smaller joint-stock banks.  I recall not long after I came to Vietnmam there was a run on ACB because of financial impropriety of the chairman.   They recovered but it was close.

Vietcombank in Nha Trang has a new head office branch in Quang Trung street in the centre of town.
Its between the Yersin st roundabout, and the big statue "thingy" near Lotteria on the eastern side of the road.    You can't miss it, it's in a new multi story office, bigger, brighter and better.  Some of the staff from NTT st are working there now.     I was in there today.

There's also a branch on the north side of town on 2/4 road just north of Dang Tat street, among others scattered around.    That tourist area is selling up to make way for more hotels.  Progress eh...

I walked down the road today to send a fax ........even on my side of town they are bulldozing to make way for hotels.   My little Fax,scan, photocopy joint has disappeared overnight.  Tourism is the game.

Yogi better be careful.....someone might throw a net over me and sell me to a circus....but Yogis ahead of em....I ran away to "join" the circus.  Hence my new life in Vietnam.

70 years old wrote:

I've been looking at buying some stock in Vietinbank, the largest Joint Stock owned bank in Viet Nam. I believe that it was government owned many years ago.

https://en.wikipedia.org/wiki/Vietinbankhttp://www.vietinbank.vn/web/home/vn/index.html

Vietcombank is a smaller bank and has been in negotiations about it's being sold or merged.

A bit of history, Vietinbank used to be Incombank. Years ago a lady by the name of Nga from the Haiphong branch did some illegal trading with ABN Amro. Nga lost about 6 million usd, she must have been connected,as the government at the time told ABN Amro to return the lost funds as Nga wasn't authorised to trade. ABN Amro was in its rights to not return the money as Nga had acted illegally. The government of the day held ABN Amro executives under house arrest until the money was returned. In the end, the bank gave in,and returned the money. ABN Amro left Viet Nam due to this matter and never returned. The new name Vietinbank was now to be used as the image of Incombank had been severly tarnished.

I'm recalling this from an article I read about 8 years ago, so some of it may be incorrect.

colinoscapee wrote:

70 years old wrote:

I've been looking at buying some stock in Vietinbank, the largest Joint Stock owned bank in Viet Nam. I believe that it was government owned many years ago.

https://en.wikipedia.org/wiki/Vietinbankhttp://www.vietinbank.vn/web/home/vn/index.html

Vietcombank is a smaller bank and has been in negotiations about it's being sold or merged.

A bit of history, Vietinbank used to be Incombank. Years ago a lady by the name of Nga from the Haiphong branch did some illegal trading with ABN Amro. Nga lost about 6 million usd, she must have been connected,as the government at the time told ABN Amro to return the lost funds as Nga wasn't authorised to trade. ABN Amro was in its rights to not return the money as Nga had acted illegally. The government of the day held ABN Amro executives under house arrest until the money was returned. In the end, the bank gave in,and returned the money. ABN Amro left Viet Nam due to this matter and never returned. The new name Vietinbank was now to be used as the image of Incombank had been severly tarnished.

I'm recalling this from an article I read about 8 years ago, so some of it may be incorrect.

colinoscapee,

If my elderly, 72 next month, mind is still working; that sounds like the research that I've done. Not to pick on as Viet Nam as bank irregularities happen just about everywhere, except for the house arrest part. 8 years ago $6,000, 000 USD was a pretty big deal in Viet Nam.

A Viet Kieu friend of ours returned to Viet Nam around then, built a $1,000,000 house in Vũng Tàu, did all the stupid things that some expats do with less than honorable girls and in a few years wound up dead broke. You'd think that a Viet Kieu would be smarter than let a girl he met in a Bia ôm lift a couple of million USD from him???????

My apologies Panda, I forgot you are in Nha Trang and not HCMC.

They located in Nguyen thienbthuat street, new place you need go up , over traffic light and left side

thanks is that on the left side heading towards the north or south of Nguyen Thien Thuat ?

You should go up to the trafic light ( cross of Nguyen thi Minh khai and Nguyen thien Thuat) the south and keep going up 100metres see the left side you will see

ok thanks