On September 11, 2019 the State Bank of Vietnam (SBV) issued Decision No. 1849/QD-NHNN amending the License on the establishment of a foreign bank branch for Siam Commercial Bank Public Company Limited - Ho Chi Minh city (HCMC) branch.
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Accordingly, the SBV Governor has approved additional operations to Paragraph 16 of Article 4 of License No. 30/GP-NHNN dated December 17, 2015 for Siam Commercial Bank Public Company Limited – HCMC branch, to read as follows:
“16. Trading, providing interest rate derivatives including interest rate swaps, cross currency interest rate swaps”.
Siam Commercial Bank Public Company Limited – HCMC branch is responsible for implementing the procedures in line with Paragraph 3 of 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 institutions with banking operations in Vietnam (as amended and supplemented 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. 30/GP-NHNN dated December 17, 2015 for Siam Commercial Bank Public Company Limited – HCMC branch.
Le Hang