The State Bank of Vietnam (SBV) has issued License No. 04/GP-NHNN dated January 19, 2021 permitting KASIKORNBANK Public Company Limited to establish its branch in Ho Chi Minh City (HCMC).
According to the License, the charter capital of KASIKORNBANK Public Company Limited – HCMC branch is USD 80 million (Eighty million United States dollars), with the operational duration of 99 years.
KASIKORNBANK Public Company Limited – HCMC branch is permitted to perform the operations of a commercial bank in accordance with the applicable laws and the SBV’s regulations, specifically as follows: (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 guarantee; 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 at the SBV, and at other credit institutions and foreign bank 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 field of corporate finance, M&A, and investment; (ix) participating in bidding for the Treasury bills, and trading of negotiable instruments, the Government bonds, the Treasury bills, the SBV bills and other valuable papers in the money market; (x) trading of corporate bonds and the Government bonds; (xi) providing the services of money brokerage; (xii) issuing certificates of deposit, promissory notes, bills and bonds to mobilize capital in accordance with the Law on Credit Institutions, the Securities Law, the Government’s regulations and the SBV’s guidance; (xiii) borrowing from the SBV in the form of refinancing in line with 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 bank branches, domestic and international financial institutions in line with the laws and the SBV’s guidance; (xv) being a trustee and/or a trustor, acting as an agent related to banking operations, insurance and asset management in line with the laws and the SBV’s guidance.
During its operations, KASIKORNBANK Public Company Limited – HCMC branch is required to comply with the applicable laws of Vietnam.
The License took effect from the date of signing.
Le Hang