The Governor of the State Bank of Vietnam (SBV) issued Decision No. 890/QĐ-NHNN on May 8 to extend the operational coverage of the license of Hanoi branch of the Mizuho Bank, Ltd.
Accordingly, the SBV Governor has approved the additional operation of “domestic factoring” to Article 5 of License No. 26/NH-GP dated July 3, 1996 for THE FUJI BANK, LIMITED (currently named as Mizuho Bank, Ltd. – Hanoi branch).
Hanoi branch of Mizuho Bank, Ltd. is responsible for implementing all regulations on factoring as stipulated in Decision No. 30/2008/QĐ-NHNN dated October 16, 2008 on revising several articles of Regulations on factoring of credit institutions, which was issued in conjunction with Decision No. 1096/2004/QĐ-NHNN dated June 19, 2004, and other relevant laws.
Hanoi branch of Mizuho Bank, Ltd. is required to implement the procedures in accordance with Item 3 of Article 18b of Circular No. 40/2011/TT-NHNN dated December 15 2011 on granting a license to commercial banks, foreign bank branches, the representative offices of foreign banks and other foreign institutions with banking operations in Vietnam (as revised by Circular No. 08/2015/TT-NHNN dated June 30, 2015).
This Decision took effect from the date of signing and is an integral part of License No. 26/NH-GP dated July 3, 1996 for THE FUJI BANK, LIMITED (currently names as Mizuho Bank, Ltd. – Hanoi branch).
Le Hang