The SBV authorised Public Vietnam Bank Ltd. to open one more branch in Ho Chi Minh City. The bank was established and operates under a banking license with a validation of 99 years from 2016.

Public Bank Vietnam is a wholly-owned subsidiary of Malaysia's Public Bank Berhad – one of the nation's largest financial institutions along with Maybank and CIMB.

Public Bank Vietnam transformed itself from VID Public Joint Venture Bank, one of the first joint venture banks in Vietnam. It was founded in 1992 with capital contributions from Vietnam’s BIDV and Malaysia’s Public Bank Berhad.

Currently, Public Bank Vietnam operates 32 branches and transaction offices across Vietnam.