SBV revises Establishment and Operation License of Indovina

Accordingly, the SBV revises License No. 08/NH-GP dated October 29, 1992 granted to Indovina, to read as follows:

Full-name in Vietnamese: Ngân hàng trách nhiệm hữu hạn Indovina;

Full-name in English: Indovina Bank Limited;

Abbreviation: IVB;

Head office address: 97A Nguyen Van Troi, Ward 12, Phu Nhuan District, Ho Chi Minh City; Charter capital: 193 million USD, of which Vietnam Joint Stock Commercial Bank for Industry and Trade contributes 96.5 million USD, equal to 50% of the charter capital, and Cathay United Bank contributes 96.5 million USD, equal to 50% of the charter capital.

The operation duration is 99 years, starting from October 29, 1992.

Indovina is permitted to perform the operations of a commercial bank in accordance with Vietnam’s laws and the regulations of the SBV, including the following activities:

(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 methods; performing the services of payment in 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 bidding, buying and selling Treasury bills, negotiable instruments, Government bonds, SBV bills and other valuable papers on the money market;

(x) Buying and selling Government bonds, corporate 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;

This License takes effect from November 11, 2019 and shall replace License for the Establishment and Operations No. 08/GP-NHNN dated October 29, 1992, and other previous documents approving revisions and amendments to License No. 08/GP-NHNN.

VA