SBV revises Establishment and Operation License of ACB

Accordingly, the SBV revises the License No. 0032/NH-GP dated April 24th, 1993 granted to ACB as follows:

Full-name in Vietnamese: Ngân hàng thương mại Á Châu;

Full-name in English: Asia Comercial Joint Stock Bank;

Abbreviation: ACB;

Head office address: No. 442 Nguyen Thi Minh Khai Street, District 3, Ho Chi Minh City.

The charter capital of ACB is VND 11,259,140,250,000 (Eleven thousand two hundred and fifty nine billion, one hundred and forty million, two hundred and fifty thousand Vietnamese dongs) with an operation duration of 50 years, starting from April 24th, 1993.

ACB is permitted to perform the operations of a commercial bank in accordance with the laws and 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) Providing the service of money brokerage;

(x) 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;

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

(xii) 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;

(xiii) Trading of corporate and the Government bonds;

(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 market 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) Trading gold bullion;

(xx) Purchasing debts;

(xxi) Investing in Government bond futures;

(xxii) Other activities (after being approved by SBV).

ACB must comply with the applicable laws of Vietnam.

This License takes effect from the date of signing and shall replace License No. 0032/NH-GP dated April 24th, 1993, Decision No. 86/QD-Nh5 dated April 24th, 1993 on the issuance of the Operational License to Asia Commercial Joint Stock Bank; Decision No. 2011/QD-NHNN dated August 23rd 2010, Decision No. 1545/QD-NHNN dated August 7th 2012, Decision No. 1587/QD-NHNN dated July 19th 2013, Decision No. 375/QD-NHNN dated March 21st 2016, Decision No. 1894/QD-NHNN dated September 7th 2017 and Decision No. 2460/QD-NHNN dated November 28th 2017 approving the supplement of the operations in the License of ACB; Decision No. 1403/QD-NHNN dated July 4th 2018 on the amendment of the contents of the Operational License of ACB; Decision No. 34/QD-NH5 dated February 14th 1995, Decision No. 17/QD-NH5 dated January 20th 1997 and Decision No. 1373/QD-NHNN dated October 22nd 2003 permitting ACB to issue, use and make bank card payments; Document No. 568/NHNN-CNH dated June 1st 2004 and Document No. 9063/NHNN-CNH dated October 25th 2006 allowing ACB to issue and make card payments; Document No. 1079 / NHNN-TT dated February 26th 2015 and Document No. 5751/NHNN-TT dated July 31st 2015 certifying the registration of bank cards by card issuers; Document No. 1309/NHNN-CNH dated November 18th 2004, and Document No. 1977/NHNN-HCM.02 dated November 25th 2004 on ACB’s domestic factoring activity. The gold trading License No. 267/GP-NHNN dated December 28th 2012 issued by the SBV to ACB continues to be effective.

VA