On May 27, 2025, the State Bank of Vietnam (SBV) Regional Branch No.12 issued Decision No.157/QD-KV12 revising the section on the authorized operations as written in License No. 03/NH-GP dated February 26, 1994 issued by the Director of the SBV – Dong Nai Provincial Branch to Ho Nai People's Credit Fund, to read as follows:
Authorized operations:
- Receiving deposits in Vietnamese Dongs.
- Providing loans in Vietnamese Dongs.
- Performing other business operations of a people’s credit fund, including:
+ Making capital contributions at the Co-operative Bank.
+ Opening payment accounts at the SBV, the commercial banks, the Co-operative Bank, or the foreign bank branches in Vietnam.
+ Borrowing from and depositing money at the Co-operative Bank; borrowing from the credit institutions or the foreign bank branches. A People's Credit Fund is not allowed to provide loans to or deposit money in another People’s Credit Fund.
This Decision took effect from the date of signing and is an integral part of License No. 03/NH-GP dated February 26, 1994 issued by the Director of the SBV – Dong Nai Provincial Branch to Ho Nai People's Credit Fund.
Ho Nai People's Credit Fund is responsible for implementing the procedures in line with the applicable legal regulations.
HY