On March 10, 2023, the State Bank of Vietnam (SBV) issued License No. 12/GP-NHNN replacing the current License for the establishment and operations of the National Citizen Commercial Joint Stock Bank (National Citizen Bank).
Accordingly, the new License issued by the SBV to the National Citizen Bank contains the following details:
Full-name in Vietnamese: Ngân hàng Thương mại cổ phần Quốc Dân;
Full-name in English: National Citizen Commercial Joint Stock Bank;
Short name: National Citizen Bank;
Head office address: No.28C-28D Ba Trieu street, Hang Bai ward, Hoan Kiem district, Hanoi.
The charter capital of the National Citizen Bank is: VND 5.601.555.870.000 (Five thousand six hundred oh one billion, five hundred fifty-five million, eight hundred seventy thousand Vietnamese Dongs). The operational duration of the National Citizen Bank is fifty (50) years, starting from September 18, 1995.
The National Citizen Bank is permitted to perform the operations of a commercial bank in accordance with the applicable laws and the regulations of the SBV, including the following: (i) Receiving time and demand deposits, savings and other deposits; (ii) Extending credit in such forms as lending, discounting and rediscounting of negotiable instruments and other valuable papers; bank guarantees; issuing credit cards, domestic factoring; (iii) Opening payment accounts; (iv) Providing payment services in the domestic market: providing payment options; performing services of payment by cheque, payment orders, encashment orders, letters of credit, bank cards, cash in and cash out; (v) Opening accounts: Opening accounts at the SBV, other credit institutions and foreign banks’ branches; (vi) Internal payment, participating in the national inter-bank payment system; (vii) Providing services of cash management, banking and finance consultancy, asset preservation and safe keeping; (viii) Providing consultancy services in the fields of corporate finance, M&A, and investment; (ix) Participating in the biddings for the State Treasury bills, and the trading of negotiable instruments, the Government bonds, the SBV bills and other valuable papers in the money market; (x) Trading of corporate and the Government bonds; (xi) Providing the service of money brokerage; (xii) Issuing certificates of deposits, promissory notes, bills and bonds to mobilize capital in accordance with the Law on Credit Institutions, the Securities Law, the Government regulations and the SBV’s guidance; (xiii) Borrowing from the SBV in the form of refinancing under the Law on the State Bank of Vietnam and the SBV’s guidance; (xiv) Borrowing, lending, depositing and receiving deposits of other credit institutions, foreign banks’ branches, domestic and international financial institutions in line with the applicable laws and the SBV’s guidance; (xv) Contributing capital, purchasing shares in accordance with the provisions of law and the SBV's guidance; (xvi) Being a trustee and/or a trustor, acting as an agent in relation to banking operations, insurance and asset management in line with the applicable laws and the SBV’s guidance; (xvii) Trading and providing foreign exchange services in the domestic market and in the international markets within the scope prescribed by the SBV; (xviii) Debt purchasing; (xix) Other operations (after having been approved by the SBV).
In the process of operations, the National Citizen Bank must comply with the applicable laws of Vietnam.
This License takes effect from the date of signing and shall replace the following Decisions: Decision No. 0057/NH-GP dated September 18, 1995; Decision No.253/QD-NH5 dated September 18, 1995; Decision No. 970/QD-NHNN dated May 18, 2006; Decision No. 86/QD-NHNN dated April 22, 2014; Decision No. 664/QD-NHNN dated April 15, 2014; Decision No.1567/QD-NHNN dated August 7, 2015; Decision No. 281/QD-NHNN dated March 8, 2016; Decision No.1352/QD-NHNN dated June 28, 2016; Decision No. 2299/QD-NHNN dated October 31, 2017; and Decision No.1566/QD-NHNN dated September 14, 2022.