The Governor of the State Bank of Vietnam (SBV) issued Decision No. 484/QĐ-NHNN on April 4 to extend the operational coverage of the license granted to Sacombank.
Accordingly, the SBV allowed Sacombank to provide the additional services including (i) Trustor and trustee, agent for several sectors relating to banking operations, insurance business, asset management in line with laws and SBV guidance; (ii) Cash management service, banking and financial consultancy; asset management and protection, and safe deposit box services; (iii) Corporate financial consultancy; consulting for buying, selling, merging corporations, and investment consultancy; (iv) Purchasing government and corporation bonds; (v) Providing and conducting bank card settlement; (vi) Debt purchasing.
Sacombank is responsible to implement legal procedures stipulated in Circular 40/2011/TT-NHNN dated December 15, 2011 on granting license and organization, performance of commercial banks, branches of foreign banks, representative offices of foreign credit institutions and other foreign organization having banking operations in Vietnam and Circular No 08/2015/TT-NHNN of the SBV.
The Decision took effect from the date of signing and is an integral part of License No. 0006/NH-GP of the Sacombank.
MH