The State Bank of Vietnam (SBV) issued Decision No.2107/QĐ-NHNN on October 6, 2017 to revise License of the Shanghai Commercial & Savings Bank, Ltd. – Dong Nai branch.
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Accordingly, revised substances of License No. 211/GP-NHNN dated September 23, 2010 for the Shanghai Commercial & Savings Bank, Ltd. – Dong Nai branch are as follows:
Substance of “1.The Shanghai Commercial & Savings Bank, Ltd. – Dong Nai branch is allowed to perform following operations in Vietnam dong and foreign currencies” as stipulated in Item 1 of Article 5 of License No. 211/GP-NHNN dated September 23, 2010 for the Shanghai Commercial & Savings Bank, Ltd. – Dong Nai branch is revised as follows: “1. The Shanghai Commercial & Savings Bank, Ltd. – Dong Nai branch is allowed to perform following operations in Vietnam dong”.
Abolishing substance of “purchasing and selling foreign currencies, gold trading” as stipulated in Point d of Item 1 of Article 5 of License No. 211/GP-NHNN dated September 23, 2010 for the Shanghai Commercial & Savings Bank, Ltd. – Dong Nai branch”
Revising substance of Item 2 of Article 5 of License No. 211/GP-NHNN dated September 23, 2010 for the Shanghai Commercial & Savings Bank, Ltd. – Dong Nai branch as follows: “trading and providing forex services in the international and domestic market within the scope stipulated by the SBV”.
The Shanghai Commercial & Savings Bank, Ltd. – Dong Nai branch is responsible for providing the mentioned-above services in compliance with applicable laws; implementing procedures in line with Item 3 of Article 18 of Circular No. 40/2011/TT-NHNN dated December 15, 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. 211/GP-NHNN dated September 23, 2010 for the Shanghai Commercial & Savings Bank, Ltd. – Dong Nai branch.
Certificate No. 6768/NHNN-TTGSNH dated October 17, 2010 of being eligible for forex service provision and documents on approving other basic forex activities for the Shanghai Commercial & Savings Bank, Ltd. – Dong Nai branch will cease to be effective.
Le Hang