On October 20, 2021, the State Bank of Vietnam (SBV) issued Decision No. 1652/QD-NHNN approving the change of the legal name of Vietnam Prosperity Bank Finance Company Limited (FE Credit).
Accordingly, the SBV has approved of the FE Credit’s request to change its legal name to VPBank SMBC Finance Company Limited.
Also, by the issuance of this new Decision, the SBV has also decided to revoke the License for the Establishment and Operations No. 64/GP-NHNN dated October 30, 2017 issued by the SBV Governor to the VPBank Finance Company Limited (FE Credit). The License for the Establishment and Operations No. 64/GP-NHNN dated October 30, 2017 issued by the SBV Governor to FE Credit shall become invalid at the time the new VPBank SMBC Finance Company Limited receives its Certificate of Business Registration.
The new VPBank SMBC Finance Company Limited shall be responsible for:
- Receiving all legal assets, rights, obligations and benefits of the VPBank Finance Company Limited (FE Credit).
- Within 45 days from the effective date of this Decision: Completing the procedures for business registration in line with the provisions of law; publicizing the information and organizing its opening event in accordance with the provisions of law.
- Fulfilling other obligations in line with the relevant provisions of law.
The VPBank Finance Company Limited (FE Credit) shall be responsible for:
- Handing over all legal assets, rights, obligations and benefits to the new credit institution under the new legal name.
- Returning the original copy of the License for Establishment and Operations No. 64/GP-NHNN dated October 30, 2017 issued by the SBV Governor to the FE Credit in accordance with the provisions of law.
- Publicizing the information about the termination of its operations and clearing all relevant rights and obligations in line with the provisions of law.
- Fulfilling other obligations in line with the relevant provisions of law.
This Decision took effect from the date of signing.
LK