SBV licensed Vietnam Public Bank

Accordingly, SBV Governor allowed the establishment of wholly-owned foreign bank which was previously Public Bank Perhad in Vietnam with the name and address as follows: Public Bank Vietnam Limited; Business name: Public Bank Vietnam; Abbreviation: PBVN; Headquarter address: 7th Floor, Prime Centre Building, 53 Quang Trung street, Nguyen Nguyen Du ward, Hai Ba Trung District, Hanoi, Vietnam.

Public Bank Vietnam’s charter capital is 3 trillion VND with the operational duration of 99 years.

Public Bank Vietnam is permited to conduct commercial banking operation activities in line with the law and SBV’s regulations including:

(i) Receiving demand and time deposits, saving and other type of deposit;

(ii) Granting credit under the following forms: lending, discounting, rediscounting negotiable instruments and other valuable Papers, banking guarantees, credit cards issuance, domestic factoring;

(iii) Opening accounts for customers;

(iv) Providing internal payment services including: supply means of payment; providing check payment services, payment orders, cash in – cash out, credit letters, bank cards…;

(v) Opening accounts includes: opening account at the SBV; opening account at other credit institutions and branches of other foreign banks;

(vi) Establishing internal payment system and participating in national interbank system;

(vii) cash management and financial banking advisory services; asset preservation, safe-deposit box for lease services;

(viii) consulting on enterprise finance, mergers and acquisitions (M&A) and investment;

(ix) participating in the bidding, purchasing and sales of Treasury bills, negotiable instruments, government bonds, SBV bills and other valuable papers in money market;

(x) Purchasing government and enterprise bonds;

(xi) Conducting currency brokerage services;

(xii) Issuing deposit certification, bonds, treasury bills and bonds to mobilize capital in accordance with the Law on Credit Institutions, Vietnam Securities Law, the Government’s regulations and the SBV’s guidance;

(xiii) Borrowing from the SBV in refinancing form in line with the Law on the State Bank of Vietnam and the SBV’s guidance;

(xiv) Borrowing, lending, depositing, receiving capital from credit institutions, branches of foreign banks, domestic and foreign credit institutions in accordance with law and the SBV’s guidance;

(xv) Contributing capital and purchasing shares in line with law and SBV’s guidance;

(xvi) Conducting trustore and trustee services, agents in the fields related to banking activities under the law and SBV’s guidance;

(xvii) Providing FX dealing and foreign exchange services in the domestic and international market under SBV’s permission.

Public Bank Vietnam is required to comply with Vietnam’s law. The License comes into force from April 1st, 2016