At the end of the second quarter of 1957, under the direction of the Ministry of Finance, the Department of Capital Allocation for Infrastructure Construction was separated to form Bank for Construction - Hanoi Branch (Hanoi Branch). Along this journey, we always memorized the words of Mr. Trinh Huy Quang, Director, on the launching date of Bank for Construction of Vietnam: “Our bank is small at first, not yet optimized, but will gradually grow up along with the growth of the country.”

In order to promptly arrange capital for the key project of Bac Hung Hai Irrigation and Drainage system, the Central Construction Bank decided to establish a capital allocation team located at the construction site, proactively providing on-site capital, using the “Hanoi branch” stamp. The Bac Hung Hai irrigation system was a model irrigation site, an icon, which drastically transformed the countrysides of Bac Ninh - Hung Yen - Hai Duong provinces and Hanoi.

The operation of the Bank for Construction was the process of clearly realizing the close relationship between the two tasks: Allocate capital to Party A; Provide payments and short-term loans to Party B. The common situation at this time was that the construction works were rampant and project owners did not focus on completing item by item, thus the construction period was prolonged, not ensuring the progress to put into production of Party A; at the same time, the necessary work volumes were not fully paid, and had to “rob Peter to pay Paul” for material reserve. As a result, disagreement arose on the allocation, payment and use of capital between the Hanoi Branch and the Northern Architecture Company, leading to an inspection by the Ministry of Finance.

The inspection review meeting was attended by Deputy Prime Minister, Chairman of the State Infrastructure Construction Committee Nguyen Con, Director Phan Minh Tue and Deputy Director Tran Khanh Vinh of the Central Bank for Construction. After a heated debate, the meeting unanimously concluded that Hanoi Branch had done the right thing: it was necessary to promote yet also to expand short-term credit suitable to the characteristics of infrastructure construction. From that experience, Mr. Khuyen - Head of Hanoi Branch assigned a team to develop a plan to improve the organization and operation of the Branch around three tasks of allocation, lending and payment. After various discussions and supplementations, the plan had also contributed to the mutual understanding across the whole bank.

In 1963, with the scale and scope of activities expanded, the Branch set up three sub-branches, each included about 8-10 people.