The State Bank of Vietnam (SBV) issued Decision No. 1157/QĐ-NHNN on June 14, 2017 to revise License of HCMC branch of Bank of Communications Co., Ltd.
Accordingly, the SBV Governor approved: (i) revision of Item 2 of Article 5 of License No. 236/GP-NHNN dated October 22, 2010 for HCMC branch of Bank of Communications Co., Ltd. and rewrites it as follows: “trading, providing forex services in the domestic and international markets in line with SBV’s regulations” (ii) revising the substance of “1. HCMC branch of Bank of Communications Co., Ltd. is allowed to conduct the following operations in VND and foreign currencies” as stipulated in Item 1 of Article 5 of License No. 236/GP-NHNN dated October 22, 2010 for HCMC branch of Bank of Communications Co., Ltd. as follows: “1.HCMC of Bank of Communications Co., Ltd. is allowed to conduct the following operations in VND”.
HCMC of Bank of Communications Co., Ltd. is responsible for providing the mentioned-above services in compliance with laws on forex and other relevant regulations; implementing procedures in line with Item 3 of Article 18 of Circular No. 40/2011/TT-NHNN dated December 12, 2011 on granting license to commercial banks, foreign bank branches and representative offices of foreign credit institutions and other foreign credit 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. 236/GP-NHNN dated October 22, 2010 for HCMC branch of Bank of Communications Co., Ltd.
Certificate No. 1166/NHNN-TTGSNH dated February 14, 2011 on eligibility for providing forex services; Certificate No. 6466/NHNN-TTGSNH dated September 6, 2013 on confirming registration of forex service provision and other documents on approving other forex activities granted to HCMC branch of Bank of Communications Co., Ltd. will cease to be effective from the date of signing this Decision.
Le Hang