SBV revises Establishment and Operation License of VRB

Accordingly, the SBV revised the License No. 11/NH-GP dated October 30th, 2006 granted to VRB as follows:

Full-name in Vietnamese: Ngân hàng liên doanh Việt – Nga;

Full-name in English: Vietnam – Russia Joint Venture Bank;

Transaction name: Ngân hàng Việt - Nga (Vietnam – Russia Bank);

Abbreviation: VRB;

Head office address: 1st Floor, 2nd Floor, Tower No.1, Yet Kieu Street, Tran Hung Dao Ward, Hoan Kiem District, Hanoi City

The charter capital of Vietnam - Russia Joint Venture Bank is USD 168,500,000 (in words: One hundred sixty eight million, five hundred thousand United States dollars), of which: Vietnamese party - the Bank for Investment and Development of Vietnam (BIDV) - contributed USD 84,250,000 (Eighty four million, two hundred and fifty thousand United States dollars); the Foreign party (Russian Federation) - the JSC Bank for Foreign Trade of the Russian Federation (JSC Vneshtorgbank) - contributes USD 84,250,000 (Eighty four million, two hundred and fifty thousand United States dollars) with the duration of operation of 50 years, starting from October 30th, 2006.

Vietnam - Russia Joint Venture Bank is permitted to perform the operations of a commercial bank in accordance with the laws and the regulations of the SBV, including the following activities:

(i) Receiving time and demand deposits, savings and other deposits;

(ii) Extending credit in such forms as lending, discounting and rediscounting of negotiable instruments and other valuable papers; bank guarantees; issuing credit cards, domestic factoring;

(iii) Opening payment accounts; 

(iv) Providing payment services in the domestic market: providing payment methods; performing services of payment in cheque, payment orders, encashment orders, letters of credit, bank cards, cash in and cash out; 

(v) Opening accounts: Opening accounts at the SBV, other credit institutions and foreign banks’ branches;

(vi) Internal payment, participating in the national inter-bank payment system; 

(vii) Providing services of cash management, banking and finance consultancy, asset preservation and safe keeping;

(viii) Providing consultancy services in the fields of corporate finance, M&A, and investment; 

(ix) Participating in the biddings for the State Treasury bills, and the trading of negotiable instruments, the Government bonds, the SBV bills and other valuable papers in the money market;

(x) Trading of corporate and the Government bonds;

(xi) Providing the service of money brokerage;

(xii) 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;

(xiii) Borrowing from the SBV in the form of refinancing under the Law on the State Bank of Vietnam and the SBV’s guidance;

(xiv) Borrowing, lending, depositing and receiving deposits of other credit institutions, foreign banks’ branches, domestic and international financial institutions in line with the applicable laws and the SBV’s guidance;

(xv) Contributing capital, purchasing shares in accordance with the provisions of law and the SBV's guidance;

(xvi) 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;

(xvii) Trading and providing foreign exchange services in the domestic market and in the international markets within the scope prescribed by the SBV;

(xviii) Trading and providing interest rate derivative products in accordance with the provisions of law and the SBV's guidance;

(xix) Purchasing debts;

(xx) Participating in the KFT payment system of the JSC Vneshtorgbank.

In the course of operations, Vietnam - Russia Joint Venture Bank must abide by the Vietnamese law.

This License takes effect from the date of signing and shall replace License for the Establishment and Operations of the Joint-Venture Bank No. 11/GP-NHNN dated October 30th, 2006, and shall be accompanied by the relevant written approvals of the revision and supplement to the License: Decision No.1203/QD-NHNN dated May 24th, 2007 supplementing the operations of VRB; Decision No. 1205/NHNN-TT dated February 24th, 2009 certifying the registration of bank cards for card issuers; Decision No. 9510/NHNN-TT dated December 6th, 2010 certifying the registration of bank cards for card issuers; Decision No. 606/QD-NHNN dated April 11th, 2016 permitting VRB to participate in the KFT payment system of the JSC Vneshtorgbank; Decision No. 2553/QD-NHNN dated December 30th, 2016 supplementing the operations in the License of Vietnam-Russia Joint Venture Bank; Decision No. 887/QD-NHNN dated May 8th, 2017 supplementing the operations in the License of Vietnam-Russia Joint Venture Bank; Decision No. 1843/QD-NHNN dated August 31st, 2017 on the amendment of the License for establishment and operations of Vietnam-Russia Joint Venture Bank; Decision No. 913 / QD-NHNN dated April 27th 2011 on the revision of the charter capital in the License of Vietnam-Russia Joint Venture Bank; Decision No. 2722/QD-NHNN dated December 28th, 2011 amending and supplementing the License for establishment and operations regarding the relocation of the VRB’s head office.

VA