On July 26, 2024, the State Bank of Vietnam (SBV) issued Decision No. 1640/QD-NHNN announcing a number of amendments and supplementations of the administrative procedures for the establishment and operations of banks, which are performed at the Single Window Service under the SBV’s jurisdiction.
The amended and supplemented administrative procedures, which are related to the change of the legal status of an overseas subsidiary bank of a commercial bank, are those stipulated in Circular No. 32/2024/TT-NHNN dated June 30, 2024, and are performed at the Single Window Service under the SBV’s jurisdiction.
The amended and supplemented administrative procedures that are performed at the central SBV level include: the procedures for the approval of the establishment of a domestic branch of a commercial bank; the procedures for the approval of the establishment of a transaction office of a commercial bank; the procedures for the approval of the establishment of an overseas branch, an overseas representative office, or an overseas subsidiary bank of a commercial bank; the procedures for the approval of the establishment of a domestic representative office, or a domestic non-business unit of a commercial bank.
The amended and supplemented administrative procedures that are performed at the SBV provincial and municipal branches’ level include: the procedures for the approval of a change in the supervisory branch of a transaction office of a commercial bank; the procedures for the voluntary termination of the operations of a domestic branch of a commercial bank; the procedures for the voluntary termination of the operations of a transaction office of a commercial bank.
The list of replaced administrative procedures, which are under the SBV’s jurisdiction, include the procedures for the approval of a change of the office address of a domestic branch or a transaction office in a province or a centrally-controlled city; the procedures for the approval of a change of the office address of a domestic branch or a transaction office from a province or a centrally-controlled city to another province/centrally-controlled city.
This Decision takes effect from August 15, 2024. This Decision shall amend, supplement and replace the administrative procedures under the following codes: 2.001399, 2.001392, 1.003334, 2.001380, 1.000194, 1.000206, 1.000394, 1.002167, which were announced in Decision 177/QD-NHNN dated February 21, 2022.
Le Hang