On November 27, 2023, the State Bank of Vietnam (SBV) issued License No.56/GP-NHNN to replace the former License for the establishment and operations of Standard Chartered Bank (Vietnam) Ltd.
Accordingly, the new License issued by the SBV shall replace License No. 263/GP-NHNN dated September 8, 2018 issued to Standard Chartered Bank (Vietnam) Ltd., with the new details as follows:
Full name in Vietnamese: Ngân hàng trách nhiệm hữu hạn một thành viên Standard Chartered (Việt Nam);
Full name in English: Standard Chartered (Vietnam) Limited;
Name for transactions: Standard Chartered (Vietnam) Limited;
Abbreviated name: Standard Chartered;
Head office address: 3rd Floor, Towers 1 & 2, Rooms No. CP1.L01 & CP2.L01, Capital Place Building, 29 Lieu Giai street, Ngoc Khanh ward, Ba Dinh district, Hanoi.
The charter capital of Standard Chartered is: VND 6,954,901,283,700 (in words: Six thousand nine hundred fifty four billion, nine hundred oh one million, two hundred eighty three thousand, seven hundred Vietnamese Dongs), with an operational duration of 99 years, starting from September 8, 2008.
Standard Chartered 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) 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; (xii) Borrowing from the SBV in the form of refinancing under the Law on the State Bank of Vietnam and the SBV’s guidance; (xiii) 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; (xiv) Contributing capital, purchasing shares in accordance with the provisions of law and the SBV's guidance; (xv) 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; (xvi) Trading and providing foreign exchange services in the domestic market and in the international markets within the scope prescribed by the SBV; (xvii) Trading, providing interest rate derivatives in the domestic and international markets; (xviii) Stock depository; (xix) Trading gold bullions; (xx) Providing commodity derivatives; (xxi) Investing in Government bond futures; (xxii) Providing the service of clearing, payment of securities transactions in accordance with the requirements in Point a, Paragraph 4 of Article 56 of the Law on Securities; (xxiii) Acting as a supervisory bank in accordance with the laws on securities; (xxiv) Debt purchase.
In the process of operations, Standard Chartered must comply with the applicable laws of Vietnam.
This License takes effect from the date of signing and shall replace License No. 263/GP-NHNN dated September 8, 2018, and the documents on the approvals of the revisions of its former License, including Decision No. 2022/QD-NHNN dated August 25, 2009; Decision No.1552/QD-NHNN dated July 11, 2011; Decision No.2923/QD-NHNN dated December 7, 2009; Decision No. 1428/QD-NHNN dated June 19, 2012; Decision No. 1675/QD-NHNN dated August 1, 2013; Decision No.1936/QD-NHNN dated September 15, 2017; Decision No.755/QD-NHNN dated April 12, 2019; Decision No.1343/QD-NHNN dated August 23, 2021; Decision No.967/QD-NHNN dated June 1, 2022; Decision No.1477/QD-NHNN dated August 25, 2022; Decision No.354/NHNN-TTGSNH dated January 13, 2010; and Decision No.2089/NHNN-TTGSNH dated April 2, 2015.
Le Hang