OCB opens Lao Cai branch, promoting border payment activities

On October 24th, Orient Commercial Bank (OCB ) officially opened its first branch in Lao Cai province at 254 Hoang Lien Street, Coc Leu Ward, Lao Cai City.

OCB opens its first branch in Lao Cai province - Photo: VGP/MT

The opening of its first branch in Lao Cai City strongly marks OCB's presence in the Northwest financial market, a region with significant growth potential. With investments in modern facilities, a highly skilled workforce, flexible financial products, competitive and preferential interest rates, and quick and simple loan procedures, the bank expects to become a transaction point offering customers optimal choices and increased benefits. OCB's Lao Cai branch will focus on developing cross-border trade payment services with China, leveraging its strategic location bordering Yunnan Province with a shared border of 182.086 km. This will significantly support customers and businesses involved in import and export activities through the Vietnam-China border, saving time and ensuring greater security compared to cash transactions, while avoiding exchange rate risks and market fluctuations.

OCB currently has a network of transaction points covering 48 provinces and cities nationwide, with 47 locations in the North alone, including 24 branches and 23 transaction offices - Photo: VGP/MT

Currently, import and export activities, buying and selling goods through border gates between Vietnam and other countries are increasingly vibrant. OCB has been actively promoting cross-border payment cooperation with neighboring countries. In this regard, the bank applies modern and advanced payment technologies, diversifying products and services to meet customer needs. The aim is to help reduce pressure on foreign exchange supply and demand, support anti-smuggling efforts, limit trade fraud and tax evasion, and promote monetary security in border regions. OCB currently has a network of transaction points covering 48 provinces and cities nationwide, with 47 locations in the North alone, including 24 branches and 23 transaction offices. The bank expects that, in addition to exploiting and better serving the promising banking service market, OCB will contribute to local economic development. In particular, the fact that the State Bank of Vietnam has continuously granted licenses for development and expansion for many consecutive years is evidence of the bank's efficient, sustainable, and transparent operations. At the same time, OCB has fully met the stringent regulations regarding capital size, safety ratios, and governance systems... Source: https://baochinhphu.vn/ocb-khai-truong-chi-nhanh-lao-cai-day-manh-hoat-dong-thanh-toan-bien-mau-102241029090147672.htm