SBV revises License of First Commercial Bank, Ltd – Hanoi Branch

Accordingly, the SBV Governor has approved (i) To revise Article 2 Item 5 of the License No. 210/GP-NHNN dated September 23, 2010 by the SBV Governor for First Commercial Bank, Ltd – Hanoi Branch and rewrite it as follow: “providing the foreign exchange business and services in the domestic and international market in line with the SBV’s regulations"; (ii) To revise the content written in Item 5 of the License No. 210/GP-NHNN dated September 23, 2010 of the First Commercial Bank, Ltd – Hanoi Branch, from: “1. First Commercial Bank, Ltd – Hanoi Branch is allowed to conduct the following activities in Vietnam Dong and foreign currencies”, to: “1. First Commercial Bank, Ltd – Hanoi Branch are allowed to conduct the following activities in Vietnam Dong”.

First Commercial Bank, Ltd – Hanoi Branch is responsible for implementing the above-revised substances in accordance with laws on foreign exchange activities and relevant laws; complying with legal procedures stipulated in Item 3, Article 18 of Circular No.40/2011/TT-NHNN dated December 15, 2011 issued by SBV Governor on granting license and organization, performance of commercial banks, branches of foreign banks, representative offices of foreign credit institutions and other foreign organizations having banking operations in Vietnam (revised and supplemented by Circular No 08/2015/TT-NHNN dated June 30, 2015) to implement the mentioned above contents of revision.

This Decision took effect from the date of signing and is an integral part of License No. 210/GP-NHNN dated September 23, 2010 by the SBV Governor for First Commercial Bank, Ltd – Hanoi Branch.

Certification on foreign exchange services No.6532/NHNN-TTGSNH dated August 19, 2011 other approval documents on foreign exchange services granted by the SBV for First Commercial Bank, Ltd – Hanoi Branch before signing Decision No.1152/QĐ-NHNN dated June 14, 2017 cease to be effect from the dated of signing Decision No.1152/QĐ-NHNN.

Thoa Le