The State Bank of Vietnam (SBV) issued License No. 05/GP-NHNN on May 11 to permit the BNP Paribas to establish a branch in Hanoi.
Accordingly, the charter capital of the branch is USD 75 million and its operational duration is 99 years.
Hanoi branch of BNP Paribas is allowed to conduct operations of a commercial bank in accordance with laws and SBV’s regulations, including: capital mobilization, credit activities, payment and treasury services, and other operations as stipulated in the License.
Hanoi branch of BNP Paribas is required to comply with applicable laws.
The License took effect from the date of signing.
DH