The State Bank of Vietnam (SBV) issued Decision No. 2509/QĐ-NHNN on December 3 on revoking license of the Representative (Rep.) Office in Hanoi of Industrial Bank of Korea.
Accordingly, the SBV Governor revoked License No. 10/GP-NHNN-VPĐD dated October 13, 2005 for Ho Chi Minh City Rep. Office of Industrial Bank of Korea.
Industrial Bank of Korea is responsible for implementing all procedures of terminating operations of Hanoi Rep. Office of Industrial Bank of Korea within five working days from the date of receiving the Decision on revoking License from the SBV; publicizing the Decision on revoking License within 7 working days from the effective date of the Decision on revoking License.
The Decision took effect on the date of signing.
LH