The State Bank of Vietnam (SBV) has issued Decision No. 1911/QD-NHNN dated September 13, 2019 revising the License of Citibank, N.A. – HCMC branch.
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Accordingly, the SBV Governor has approved the amendment and supplement of Article 4 of License No. 53/GP-NHNN dated February 20, 2013 for Citibank, N.A. – HCMC branch, specifically as follows:
Paragraph 8 of Article 4 is amended and supplemented as follows: “8. 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.”
Paragraph 9 of Article 4 is amended and supplemented as follows: “9. Opening accounts: Opening accounts at the SBV, other credit institutions and foreign banks’ branches.”
Paragraph 11 of Article 4 is amended and supplemented as follows: “11. 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.”
Paragraph 12 of Article 4 is amended and supplemented as follows: “12. 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.”
Paragraph 14 of Article 4 is amended and supplemented as follows:“14. Providing services of cash management, banking and finance consultancy, asset preservation and safe keeping.”
Supplementing Paragraphs 15, 16, 17, 18, 19 and 20 to Article 4 as follows:
“15. Providing consultancy services in the fields of corporate finance, M&A;
16. Trading of corporate bonds;
17. Providing the service of money brokerage;
18. E-wallets;
19. Investing in Government bond futures;
20. Other operations upon the SBV’s approval.”
Citibank, N.A. – HCMC branch is responsible for complying with the applicable laws and implementing the procedures in line with Paragraph 3, Article 18b of Circular No.40/2011/TT-NHNN dated December 15, 2011 on granting licenses to commercial banks, foreign bank branches and representative offices of foreign credit institutions and other foreign credit institutions with banking operations in Vietnam (as amended by Circular No.17/2017/TT-NHNN dated November 20, 2017).
This Decision took effect from the date of signing and is an integral part of License No. 53/GP-NHNN dated February 20, 2013 for Citibank, N.A. – HCMC branch.
Le Hang