The State Bank of Vietnam (SBV) issued Decision No. 376/QĐ-NHNN on March 12th, 2018 to revise License of Bao Viet Joint Stock Commercial Bank (Bao Viet Bank).
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Accordingly, the SBV Governor approved the addition of the content of “Insurance agent in accordance with the law and guidelines of the State Bank of Vietnam" to the activity contents mentioned in Point d Article 3 of Decision No. 328/GP-NHNN dated December 11th, 2008 granted to Bao Viet Bank.
When implementing insurance agency activities, Bao Viet Bank have to fully implement regulations on insurance agency activities and other relevant provisions of law; implementing procedures in line with Paragraph 3 of Article 18b of Circular No. 40/2011/TT-NHNN dated December 15th, 2011 on granting licenses to commercial banks, foreign bank branches and representative offices of foreign credit institutions and other foreign institutions with banking operations in Vietnam (as amended and supplemented by Circular No. 17/2017/TT-NHNN dated November 20th, 2017).
This Decision takes effect from the date of signing and is an integral part of the Decision No. 328/GP-NHNN dated December 11th, 2008 granted to Bao Viet Bank.
VA