The State Bank of Vietnam (SBV) issued License No. 80/GP-NHNN dated December 28, 2017 relating to the establishment of Agricultural Bank of China Limited – Hanoi branch.
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Accordingly, Agricultural Bank of China Limited is allowed to establish a branch in Hanoi with an operational duration of 99 years and the charter capital of USD 50 million. Its head office is located at Rooms No.901-907, 9th Floor, TNR Building, 54A Nguyen Chi Thanh, Lang Thuong ward, Dong Da district, Hanoi.
Agricultural Bank of China Limited – Hanoi Branch is permitted to perform commercial bank operations in accordance with the applicable laws and the SBV regulations, including:
(a) time and demand deposits, savings and other deposits;
(b) extending credits in such forms as:
- Lending,
- Discounting and rediscounting of negotiable instruments and other valuable papers;
- Bank guarantees; issuance of credit cards; domestic factoring;
(c) Opening payment accounts;
(d) Providing payment services in the domestic market: providing payment methods; performing services of check payments, payment orders, encashment orders, letters of credit, bank cards, cash in and cash out;
(e) Opening accounts at the SBV, credit institutions and other foreign bank branches;
(f) Internal payment, participating in the national inter-bank payment system;
(g) Providing services of cash management, banking and finance consultancy, asset preservation and safe keeping;
(h) Providing consultancy services in the fields of corporate finance, M&As, and investment;
(i) Participating in the biddings for treasury bills, and the tradings of negotiable instruments, government bonds, the SBV bills and other valuable papers in the money market;
(j) Tradings of corporate and Government bonds;
(k) Providing the service of money brokerage;
(l) Issuing certificates of deposits, promissory notes, bills and bonds to mobilize capital in accordance with the Law on Credit Institutions, the Securities Law, the Government regulations and the SBV’s guidance;
(m) Borrowing from the SBV in the form of refinancing in consistent with the Law on the State Bank of Vietnam and the SBV’s guidance;
(n) Borrowing, lending, depositing and receiving deposits of other credit institutions, foreign bank branches, domestic and international financial institutions in line with the applicable laws and the SBV’s guidance;
(o) Being a trustee and/or a trustor, acting as an agent in relation to banking operations, insurance and asset management in line with the applicable laws and the SBV’s guidance.
The inauguration date is May 4, 2018.
The legal representative of Agricultural Bank of China Limited- Hanoi branch is Mr. YU XIAOCHEN - General Director.
Le Hang