The State Bank of Vietnam (SBV) issued Decision No. 1152/QĐ-NHNN on June 14, 2017 to revise License of Hanoi branch of First Commercial Bank, Ltd.
Accordingly, the SBV Governor approved: (i) revising the coverage of operations written in Item 2 of Article 5 of License No. 210/GP-NHNN dated September 23, 2010 for Hanoi branch of First Commercial Bank, 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. Hanoi branch of First Commercial Bank, Ltd. is allowed to conduct the following operations in VND and foreign currencies” as stipulated in Article 5 of License No. 210/GP-NHNN dated September 23, 2010 for Hanoi branch of First Commercial Bank, Ltd. as follows: “1. Hanoi branch of First Commercial Bank, Ltd. is allowed to conduct the following operations in VND”.
Hanoi branch of First Commercial Bank, 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. 210/GP-NHNN dated September 23, 2010 for Hanoi branch of First Commercial Bank, Ltd.
Certificate No. 6532/NHNN-TTGSNH dated August 19, 2011 on eligibility for providing forex services; and other documents on approving other forex activities granted to Hanoi branch of First Commercial Bank, Ltd. will cease to be effective from the date of signing this Decision.
Le Hang