SBV reissues PG Bank’s License

Accordingly, the SBV has accepted to reissue a new License to replace License No. 0045-NH/GP dated November 13, 1993 issued for PG Bank, with the following main substances:

Full name in Vietnamese: Ngân hàng thương mại cổ phần Xăng dầu Petrolimex; Full name in English: Petrolimex Group Commercial Joint Stock Bank; Abbreviated name in English: PG Bank; Address of the Head Office: 16th floor, 23rd floor and 24th floor of the MIPEC Building, 229 Tay Son street, Nga Tu So ward, Dong Da district, Hanoi city.

PG Bank’s charter capital is VND 3,000,000,000,000 (Three trillion Vietnamese Dongs) and the operational duration is 99 years, starting from November 13, 1993.

PG Bank is permitted to perform the operations of a commercial bank in accordance with Vietnam’s laws and the regulations of the SBV, including the followings:

(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's guarantees; issuing credit cards, domestic factoring;

(iii) Opening payment accounts for customers;

(iv) Providing payment services in the domestic market: providing payment methods; performing the services of payment by cheque, payment orders, encashment orders, letters of credit, bank cards, cash in and cash out;

(v) Opening accounts: Opening accounts at the SBV, other credit institutions and foreign banks’ 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 fields of corporate finance, M&A, and investment;

(ix) Participating in bidding, buying and selling of the Treasury bills, negotiable instruments, the Government bonds, the SBV bills and other valuable papers on the money market;

(x) Buying and selling of the Government bonds, corporate bonds;

(xi) Providing the service of money brokerage;

(xii) Issuing certificates of deposits, promissory notes, bills and bonds to mobilize capital in accordance with the 2010 Law on Credit Institutions (as amended and supplemented), the Securities Law, the Government regulations and the SBV’s guidance;

(xiii) Borrowing from the SBV in the form of refinancing under 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 banks’ branches, domestic and international financial institutions in line with the applicable laws and the SBV’s guidance;

(xv) Contributing capital, purchasing shares in accordance with the provisions of law and the SBV's guidance;

(xvi) 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;

(xvii) Trading and providing foreign exchange services in the domestic market and in the international market within the scope prescribed by the SBV;

(xviii) Providing commodity price derivatives;

(xix) Purchasing debts.

(xx) Other operations (upon obtaining approval by the SBV).

During its operations, PG Bank must comply with the applicable laws of Vietnam.

This License takes effect from the date of signing and shall replace License No. 0045-NH/GP dated November 13, 1993 issued for Dong Thap Muoi Rural Joint Stock Bank (former name of PG Bank), and other previous documents revising and amending License No. 0045-NH-GP issued for PG Bank.

VA