The State Bank of Vietnam (SBV) issued Decision No. 927/QĐ-NHNN on May 09th, 2018 amending and supplementing the License of Operation for United Overseas Bank (Vietnam) Limited (UOB).
Accordingly, the SBV Governor has approved the revision of Paragraph 17 Article 4 of License of Establishment and Operation of a bank with 100% foreign owned capital No. 57/GP-NHNN dated September 21st, 2017 granted for UOB (Vietnam) as follows: “17. Debt purchase”.
UOB (Vietnam) is responsible for: (i) Providing the mentioned-above services in compliance with applicable laws and other relevant regulations; (ii) Implementing procedures in line with Item 3 of Article 18b of Circular No. 40/2011/TT-NHNN dated December 15th, 2011 on granting license to commercial banks, foreign bank branches and representative offices of foreign credit institutions and other foreign credit institutions with banking operations in Vietnam (as revised by Circular No. 08/2015/TT-NHNN dated June 30th, 2015).
This Decision took effect from the date of signing and is an integral part of the License of Establishment and Operation of a bank with 100% foreign owned capital No. 57/GP-NHNN dated September 21st, 2017 granted for UOB (Vietnam).
VA