The State Bank of Vietnam (SBV) issued Decision No. 525/QĐ-NHNN on March 26th, 2018 amending and supplementing the License of Vietnam Prosperity Joint-Stock Commercial Bank (VPBank).
Accordingly, the SBV Governor approved the addition of the content of “Electronic wallet; Investment in futures contracts of government bonds; Asset management services; Providing credit in the form of rediscounting of negotiable instruments and other valuable papers;” to the activity contents mentioned in Point 8 License No.0042/NH-GP dated August 12th, 1993 granted to VPBank.
When implementing insurance agency activities, VPBank 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). At the same time, the above mentioned activities shall be implemented in accordance with the provisions of law and the guidance of the SBV.
This Decision takes effect from the date of signing and is an integral part of the License No.0042/NH-GP dated August 12th, 1993 granted to VPBank.
VA