Vietnam: Banks brace for foreign invasion.

(From Thai Press Reports)

Section: Regional News - Vietnamese banks are opening new branches in the country as April 1 nears, the date when foreign banks will be able to open 100 per cent foreign-owned branches in the country.

Local banks were making the move to gain market share in the big cities, said Nguyen Quang Trung, Sacombank deputy general director.

"This focus by foreign banks on big cities will create serious pressure on human resources and will increase unstable credit growth," he said.

Trung said that Sacombank has expanded its network to 159 transaction offices and branches in Vietnam.

He said that the branches in the …