The State Bank of Vietnam (SBV) issued Decision No.2302/QĐ-NHNN on October 31st, 2017 to revise License of United Overseas Bank Limited – Hochiminh city branch.
Accordingly, the SBV Governor approved the revision of Section II Article III of Establishment License for a foreign bank branch No. 18/NH-GP dated March 27th, 1995 granted to United Overseas Bank Limited – Hochiminh city branch as follow: “Trading and providing foreign exchange services in the domestic and international market within the scope stipulated by the SBV.”
United Overseas Bank Limited – Hochiminh city branch is responsible for: (i) Providing the mentioned-above services in compliance with applicable laws and other relevant regulations; (ii) Implementing procedures in line with Item 3 of Article 18b of Circular No.40/2011/TT-NHNN dated December 15th, 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 30th, 2015).
This Decision took effect from the date of signing and is an integral part of Establishment License for a foreign bank branch No. 18/NH-GP dated March 27th, 1995 granted to United Overseas Bank Limited – Hochiminh city branch.
Business license for futures, swaps No. 36/1998/GP-QLNH5 dated February 20th, 1998 and other written approvals of other basic foreign exchange operations approved by SBV Governor to United Overseas Bank Limited – Hochiminh city branch shall cease to be effective from the date of signing this Decision.
VA