On December 25th, 2019, the State Bank of Vietnam (SBV) issued Decision No. 2625/QD-NHNN amending and supplementing the License for DBS Bank Ltd. - Ho Chi Minh City Branch.
Accordingly, the SBV Governor has approved the amendment and supplementation of Article 4 of License for the establishment of a foreign bank branch No. 104/GP-NHNN dated October 30th, 2018 granted to DBS Bank Ltd. - Ho Chi Minh City Branch, to read as follows: Trading and providing interest rate derivatives, specifically: term interest rate derivatives; one-currency interest rate swaps; two-currency interest rate swaps, or cross currency swaps; interest rate options.
DBS Bank Ltd. - Ho Chi Minh City Branch is responsible for complying with the relevant legal provisions on the above-mentioned supplemented operations; implementing the procedures in line with Paragraph 3 of Article 18b of Circular No. 40/2011/TT-NHNN dated December 15th, 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 20th, 2017).
This Decision took effect from the date of signing and is an integral part of License No. 104/GP-NHNN dated October 30th, 2018 granted to DBS Bank Ltd. - Ho Chi Minh City Branch.
VA