On May 15th, 2018, the State Bank of Vietnam (SBV) issued Decision No. 1085/QD-NHNN amending and supplementing the license of Vietnam Technological and Commercial Joint- stock Bank (Techcombank).
Accordingly, the SBV Governor approved the addition of the content of “25) Providing Commodity Derivative Products” to the activity contents mentioned in Article 4 of License No. 38/GP-NHNN dated March 6th, 2018 granted to Techcombank.
When implementing insurance agency activities, Techcombank 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 License No. 38/GP-NHNN dated March 6th, 2018 granted to Techcombank.
VA