BANKS IN HOCHIMINH CITY Vietnamese banking system include : 1-State Bank of Vietnam (SBV) : is a Government body and is also the central bank of Vietnam. State Bank of Vietnam has the following principal functions -State management of monetary and banking operations -Issuer of bank notes and coins -Banker for credit institutions and provider of monetary services to the Government SBV is responsible for establishing the value of money, ensuring the maintenance of the safety of banking activities and credit organizations and facilitating the development of a socialist-oriented economy. 2-State - owned banks: The principal state owned credit institutions are the state owned banks. There are 5 major the state owned banks, namely The bank for Foreign trade of Vietnam (Vietcombank), The Industrial and Commercial bank of Vietnam (Vietindebank), the Investment and Development bank of Vietnam (BIDV) and the Vietnam Bank for Agriculture and Rural Development (Agribank). 3-Joint-stock commercial banks: these banks are equity companies established under Vietnamese law 4-Foreign bank branches : these are foreign banks established under foreign law that have set up branches licensed to operate in Vietnam. A foreign credit institution is also permitted to open a representative office in Vietnam, but a representative office cannot carry on business operations in Vietnam. 5-Joint venture bank: these bank are established in Vietnam as Vietnamese legal entities with capital contributions from both foreign and domestic legal entities 6-Co-operative credit institutions: these credit institutions are classified as non banking credit institutions and can carry out foreign exchange activities and provide banking services in accordance with the Law of credit institutions and the Law on Co operatives for the main purpose of assisting members in developing their business production activities and improving their living standards. They are formed by organization, individuals or households to provide banking services to members. Co operatives credit institution comprise co-operative banks, people’s credit funds, credit co-operatives and other institutions. Co-operative credit institutions may raise capital from members and other organizations and individuals and use that capital to provide loans to members. Any loan made to a non-member must be approved by the members and the loan amount must not exceed the limit prescribed by State Bank of Vietnam 7-Finance companies: these credit institutions are classified as non banking credit institutions and are entitled to carry out banking operation other than the taking of deposits or the provision of payment services. Foreigners are entitled to hold up to 30% of the capital of finance companies 8-Finance leasing companies: the Law of credit institution provides for the establishment of finance leasing companies subject to the supervision of State Bank of Vietnam. Finance leasing is carried out by Finance leasing companies. Several joint venture enterprises and 100% foreign owned Finance leasing companies have been established in Vietnam. Presently, in Vietnam , there are 5 of State - owned banks, 37 of Joint-stock commercial banks, 26 Foreign bank branches, 4 Joint venture banks, 5 of Finance companies, 8 of Finance leasing companies, nearly 1000 of Co-operative credit institutions and 41 representatives offices of foreign credit institutions . Presently, in Vietnam , there are 5 of State - owned banks, 37 of Joint-stock commercial banks, 26 Foreign bank branches, 4 Joint venture banks, 5 of Finance companies, 8 of Finance leasing companies,. of Vietnam. Finance leasing is carried out by Finance leasing companies. Several joint venture enterprises and 100% foreign owned Finance leasing companies have been established in Vietnam the Law of credit institutions and the Law on Co operatives for the main purpose of assisting members in developing their business production activities and improving their living standards. They