Following the provincial-level mergers, how will the State Bank of Vietnam branches change from July 1st?

The State Bank of Vietnam (SBV) has just announced the reorganization of its regional branch system to align with the restructuring of the administrative apparatus and the adjustment of provincial and city boundaries.

Following the reorganization of 63 provincial and city branches of the State Bank of Vietnam into 15 regional branches to streamline operations and improve efficiency, the regional State Bank branches officially commenced operations on March 1st.

After the reorganization of provincial-level administrative units, the country now has 34 provinces and cities.

Based on that, the State Bank of Vietnam issued 14 decisions amending and supplementing the functions, tasks, powers, and organizational structure for 14 regional State Bank branches (excluding Region 1), in order to ensure the system operates synchronously, uniformly, and effectively.

The regional central banks officially commenced operations on July 1st, in line with the new local government system.

Deputy Governor of the State Bank of Vietnam, Pham Quang Dung (third from the right), presents the appointment decision to the leader of the State Bank of Vietnam Region 7. Photo: Hung Dung

The current regional State Bank of Vietnam (excluding State Bank of Vietnam Region 1 and State Bank of Vietnam Region 2) were established on the basis of merging the former provincial and city branches of the State Bank of Vietnam.

Each regional State Bank of Vietnam will perform the function of state management of monetary affairs, banking operations, and foreign exchange in 3 to 6 provinces/cities, ensuring a streamlined organization, enhanced operational capacity, and improved efficiency.

The reorganization of regional State Bank branches is being implemented according to the principle of maintaining the current number of organizational units (15 regional State Bank branches), avoiding the creation of new organizations, minimizing the impact on staff and personnel, ensuring asset safety and monetary security, and simultaneously enhancing the effectiveness and efficiency of monetary policy implementation at the local level.

The structure of the 15 regional State Bank branches is as follows:

State Bank of Vietnam Region 1: Hanoi City area.

State Bank of Vietnam Region 2: comprises 2 provinces/cities: Ho Chi Minh City (Ho Chi Minh City + Ba Ria - Vung Tau + Binh Duong), Dong Nai (Dong Nai + Binh Phuoc). Headquarters in Ho Chi Minh City.

State Bank of Vietnam Region 3: comprises 3 provinces: Son La, Dien Bien , and Lai Chau. Headquarters located in Son La province.

State Bank of Vietnam Region 4: comprises 3 provinces: Phu Tho (Phu Tho + Hoa Binh + Vinh Phuc), Tuyen Quang (Tuyen Quang + Ha Giang), and Lao Cai (Lao Cai + Yen Bai). Headquarters are located in Phu Tho province.

State Bank of Vietnam Region 5: comprises 3 provinces: Thai Nguyen (Thai Nguyen + Bac Kan), Cao Bang, and Lang Son. Headquarters located in Thai Nguyen province.

State Bank of Vietnam Region 6: comprises 2 provinces/cities: Hai Phong City (Hai Phong + Hai Duong), Quang Ninh. Headquarters located in Hai Phong City.

State Bank of Vietnam Region 7: comprises 2 provinces: Ninh Binh (Ninh Binh + Nam Dinh + Ha Nam) and Thanh Hoa. Headquarters located in Thanh Hoa province.

State Bank of Vietnam Region 8: comprises 3 provinces: Ha Tinh, Nghe An, and Quang Tri (Quang Tri + Quang Binh). Headquarters located in Ha Tinh province.

State Bank of Vietnam Region 9: comprises 3 provinces/cities: Da Nang City (Da Nang + Quang Nam), Quang Ngai (Quang Ngai + Kon Tum), and Hue City. Headquarters are located in Da Nang City.

State Bank of Vietnam Region 10: comprises 2 provinces: Khanh Hoa (Khanh Hoa + Ninh Thuan), Lam Dong (Lam Dong + Binh Thuan + Dak Nong). Headquarters located in Khanh Hoa province.

State Bank of Vietnam Region 11: comprises 2 provinces: Dak Lak (Dak Lak + Phu Yen), Gia Lai (Gia Lai + Binh Dinh). Headquarters located in Dak Lak province.

State Bank of Vietnam Region 12: comprises 2 provinces: Hung Yen (Hung Yen + Thai Binh), Bac Ninh (Bac Ninh + Bac Giang). Headquarters located in Hung Yen province.

State Bank of Vietnam Region 13: comprises 2 provinces: Dong Thap (Dong Thap + Tien Giang), Tay Ninh (Tay Ninh + Long An). Headquarters located in Dong Thap province.

State Bank of Vietnam Region 14: comprises 2 provinces/cities: Can Tho City (Can Tho + Hau Giang + Soc Trang), Vinh Long (Vinh Long + Ben Tre + Tra Vinh). Headquarters located in Can Tho City.

State Bank of Vietnam Region 15: comprises 2 provinces: An Giang (An Giang + Kien Giang), Ca Mau (Ca Mau + Bac Lieu). Headquarters located in An Giang province.

This arrangement ensures geographical and transportation compatibility, facilitates management and operational direction at the local level, and does not increase the number of regional State Bank offices compared to the current number.

Source: https://vietnamnet.vn/sau-sap-nhap-cap-tinh-chi-nhanh-nhnn-thay-doi-the-nao-tu-1-7-2413403.html