On September 16, 2018, the State Bank of Vietnam (SBV) issued License No.100/GP-NHNN to replace the former License on the establishment and operations of the Military Comercial Joint Stock Bank (MB).
Accordingly, the new License issued by the SBV shall replace License No.0054/NH-GP dated September 14, 1994 granted to the MB, with details as follows:
Full-name in Vietnamese: Ngân hàng thương mại Quân Đội;
Full-name in English: Military Comercial Joint Stock Bank;
Abbreviation: MB;
Head office address: No. 21 Cat Linh street, Cat Linh ward, Dong Da district, Hanoi.
The charter capital of the MB is VND 21,604,513,810,000 (twenty-one thousand six hundred and four billion, five hundred and thirteen million, eight hundred and ten thousand Vietnamese dongs) with an operation duration of 99 years, starting from September 14, 1994.
The MB 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 by 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 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) Stock depository; (xx) Trading gold bullion; (xxi) E-wallets; (xxii) Providing good price derivatives; (xxiii) Purchasing debts; (xxiv) Trading valuable papers in accordance with laws; (xxv) Investing in Government bond futures; (xxvi) Other activities (after being approved by SBV).
In the process of operations, the MB must comply with the applicable laws of Vietnam.
This License takes effect from the date of signing and shall replace License No.0054/NH-GP dated September 14, 1994, Decisions No.194/QD-NH5 dated September 14,1994, No.1289/QD-NHNN dated June 4, 2008, No.108/QD-NHNN dated January 21, 2010, No.104/QD-NHNN dated February 02, 2012, No.886/QD-NHNN dated April 18, 2013, No.462/QD-NHNN dated March 12, 2014, No.2186/QD-NHNN dated October 29, 2014, No.1541/QD-NHNN dated August 04, 2015, No.147/QD-NHNN dated February 04, 2016, No.2296/QD-NHNN dated November 17, 2016, No.2106/QD-NHNN dated October 06, 2017, No.278/QD-NHNN dated February 13, 2018, No.384/QD-NHNN dated March 02, 2012, No.280/QD-NHNN dated February 13, 2018, No.1634/QD-NHNN dated August 15, 2018.
The gold trading License No.14/GP-NHNN dated January 8, 2013 issued by the SBV to the MB continues to be effective.
Le Hang