Press Release on issuance of Circular No.20/2025/TT-NHNN
Hanoi, July 31, 2025. The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 20/2025/TT-NHNN providing guidance on the required documents and the procedures for the SBV’s approval of the proposed key personnel list of a commercial bank, a foreign bank branch, or a non-bank credit institution.
Circular No. 20/2025/TT-NHNN has been issued to replace Circular No. 22/2018/TT-NHNN dated September 5, 2018 of the SBV Governor providing guidance on the required documents and the procedures for the SBV’s approval of the proposed key personnel list of a commercial bank, a non-bank credit institution, or a foreign bank branch (as amended and supplemented by Circular No. 13/2019/TT-NHNN dated August 21, 2019 and Circular No. 10/2024/TT-NHNN dated June 28, 2024).
The new Circular is composed of 04 Chapters with 18 Articles, together with 05 Appendices, specifically as follows:
- Chapter 1: General regulations (from Article 1 to Article 6);
- Chapter 2: The procedures and required documents for the SBV’s approval of the proposed key personnel list of a commercial bank, a foreign bank branch, or a non-bank credit institution (from Article 7 to Article 9);
- Chapter 3: The responsibilities of the relevant credit institution or foreign bank branch, and the SBV’s entities (from Article 10 to Article 15);
- Chapter 4: Implementation (from Article 16 to Article 18).
This new Circular enters into force on August 10, 2025.