The Governor of the State Bank of Vietnam (SBV) issued Decision No.1523/QĐ-NHNN on July 28, 2016 to allow Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) to provide additional services written in the VPBank’s License of the establishment and operation.
Accordingly, the SBV Governor approved VPBank to supplement to Point 8 License No.0042 /NH-GP dated August 12, 1993 with the following operations:
- Opening payment account for customers;
- Conducting services of cash management;
- 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;
- Depositing, receiving capital from credit institutions, branches of foreign banks, domestic and foreign credit institutions in accordance with law and the SBV’s guidance;
- Conducting trustor and trustee services on buying corporate bonds, and conducting trustor and trustee services on contributing capital and purchasing shares under the law and SBV’s guidance.
VPBank is responsible to implement legal procedures stipulated in Item 3, Article 18b of Circular 40/2011/TT-NHNN dated December 15, 2011 issued by SBV Governor 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 ( revised and supplemented by Circular No 08/2015/TT-NHNN dated June 30, 2015 issued by the SBV).
Decision No. 1523/QĐ-NHNN took effect on the date of signing and is an integral part of License No. 0042/NH-GP dated August 12, 1993 issued by the SBV Governor for VPBank.
Nguyen Giang