Press release on issuance of Circular No. 25/2024/TT-NHNN
Hanoi, June 28, 2024 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 25/2024/TT-NHNN stipulating the conditions, dossiers, sequences and procedures for the approval of a capital contribution or a share purchase by a credit institution (replacing Circular No. 51/2018/TT-NHNN dated December 31, 2018).
This Circular is composed of 3 Chapters with 11 Articles, and 1 Appendix, specifically as follows:
- Chapter I. General provisions, comprising of 4 Articles (from Article 1 to Article 4), stipulating the scope of regulation; the subjects of application; the principles in compiling the required dossiers; the approving authority of a capital contribution or a share purchase by a credit institution.
- Chapter II. The conditions, dossiers, sequences and procedures for the approval of a capital contribution or a share purchase; the conditions for a recapitalization at a subsidiary company/an affiliated company of a credit institution, comprising of 5 Articles (from Article 5 to Article 9), stipulating the conditions for a capital contribution or a share purchase by a credit institution; the required dossiers for requesting the approval of a capital contribution or a share purchase by a credit institution; the sequences and procedures for the approval of a capital contribution or a share purchase by a credit institution; the conditions for a recapitalization at a subsidiary company/an affiliated company of a credit institution; responsibilities of the credit institution.
- Chapter III. Enforcement, comprising of 2 Articles (Article 10 and Article 11), stipulating the effectiveness and the implementation arrangements.
- Appendix: Sample document requesting the approval of a capital contribution or a share purchase.
The Circular takes effects from July 1, 2024.
Translated by Le Hang