A New Asian Bank was establish in Port Vila as a commercial Bank to provide service to the people of Vanuatu.

Governor of Reserve Bank, Simeon Athy confirm this to VBTC news this morning.

Mr Athy said One Futen Bank Limited was based in HongKong in China.

He says the bank sets its office at the former westpac building in town and the office of Reserve work closely to make sure that this bank must follow the law of Vanuatu.