Press Release on issuance of Circular No. 52/2024/TT-NHNN
Hanoi, September 29, 2024 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 52/2024/TT-NHNN stipulating the cases of commercial banks which have any shareholders, or shareholders and their related persons with share ownership exceeding the limits as stipulated in Article 55 of the Law on Credit Institutions No. 47/2010/QH12, as amended and supplemented by Law No. 17/2017/QH14. This Circular was issued with the purpose of developing and implementing a roadmap to ensure compliance with the provisions of the Law on Credit Institutions No. 32/2024/QH15.
The new Circular is composed of 9 Articles and 1 Appendix, with a number of basic substances as follows:
- Regulations on the development of a compliance roadmap for those commercial banks which have any shareholders, or shareholders and their related persons with share ownership exceeding the limits as stipulated in Article 55 of the Law on Credit Institutions No. 47/2010/QH12, as amended and supplemented by Law No. 17/2017/QH14, in order to ensure compliance with the provisions of the 2024 Law on Credit Institutions.
- Regulations on the roadmap implementation and the responsibilities of the relevant subjects.
This Circular shall take effect from January 15, 2025.
HY