The State Bank of Vietnam (SBV) issued Decision No. 1198/QĐ-NHNN on June 19 on revising the License of Bao Viet Joint- Stock Commercial Bank (BaoViet Bank).
Accordingly, the SBV has approved additional operations of “extending credit in the forms of domestic factoring; credit card issuance” to Point b of Item 2 of License No. 328/GP-NHNN dated December 11, 2008.
BaoViet Bank is responsible for complying with the procedures in accordance with Item 3 of Article 18 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. 328/GP-NHNN dated December 11, 2008.
Le Hang