On March 5, 2020 the State Bank of Vietnam (SBV) issued Decision No. 327/QD-NHNN amending the License on the establishment and operations of a foreign bank branch issued for the Bank of China (Hong Kong) - Ho Chi Minh city (HCMC) branch.
Accordingly, the SBV Governor has approved the supplementation of Item V to Article III of License No. 21/NH-GP dated July 24, 1995 issued for the Bank of China (Hong Kong) – HCMC branch, to read as follows: “V. Trading, providing interest rate derivatives”.
The Bank of China (Hong Kong) – 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. 21/NH-GP dated July 24, 1995 issued for the Bank of China (Hong Kong) – HCMC branch.
Le Hang