Press release on issuance of Circular No. 32/2024/TT-NHNN
Hanoi, June 30, 2024 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 32/2024/TT-NHNN stipulating the operational networks of the commercial banks.
This Circular is composed of 8 Chapters with 41 Articles, specifically as follows:
- Chapter I (from Article 1 to Article 5), stipulating the scope of regulation; the subjects of application; the interpretation of the terms; the approving authority of the network of a commercial bank; the principles in compiling and sending the required dossiers.
- Chapter II (from Article 6 to Article 14), stipulating the establishment of the network unit of a commercial bank, with amendments and supplementations of the regulations on the conditions for the establishment of the operational network of a commercial bank.
- Chapter III (from Article 15 to Article 23), stipulating the inauguration, the changes in the name or the address of a network unit of a commercial bank; the changes in the supervisory branch of a transactions office; the transformation of a domestic branch into a transaction office; amending and supplementing regulations on changing the office address of a branch or a transaction office.
- Chapter IV (from Article 24 to Article 26), stipulating the change of the legal status of a subsidiary bank overseas of a commercial bank.
- Chapter V (from Article 27 to Article 32), stipulating the termination of operations and liquidation of the network unit of a commercial bank.
- Chapter VI (Article 32 to Article 33), stipulating the notification of information to the business registration authority.
- Chapter VII and Chapter VIII (from Article 34 to Article 41), stipulating the implementation arrangements; the transitional regulations; and the effectiveness.
This Circular takes effect from August 15, 2024.
Translated by Le Hang