The Commonwealth Bank of Australia officially opened its first Vietnam branch in Ho Chi Minh City on August 28, 14 years after running as a representative office in Hanoi.

This is a significant new investment, showing a longstanding commitment to Vietnam by the Commonwealth Bank since the bank set up its representative office, according to the Australian Consulate-General in Ho Chi Minh City.

Danny Armstrong, General Director of the Commonwealth Bank in Vietnam expressed his belief that positive changes and an ongoing trend of strong economic growth in Vietnam over the past 14 years will continue in the medium and long terms.

The investment of the Commonwealth Bank, one of Australia’s largest banks with more than 95 years operating financial services, is considered part of the strong ongoing commercial relationship between Australia and Vietnam.