On March 17, 2023, the State Bank of Vietnam (SBV) – Ho Chi Minh City Branch issued Decision No. 226/QD-HCM supplementing an operation to the License of KASIKORNBANK Public Company Limited – Ho Chi Minh City Branch.
Accordingly, the SBV – Ho Chi Minh City Branch has approved of the supplementation of an additional operation into Article 4 of the License for the Establishment of a foreign bank branch No. 04/GP-NHNN dated January 19, 2021 issued by the SBV Governor to KASIKORNBANK Public Company Limited – Ho Chi Minh City Branch, to read as follows:
“Trading and providing interest rate derivative products in the domestic and international markets”.
KASIKORNBANK Public Company Limited – Ho Chi Minh City Branch shall be responsible for:
(i) Implementing the above-mentioned additional operation in line with the applicable provisions as stated at Paragraph 3 of Article 18b of Circular No. 40/2011/TT-NHNN of the SBV;
(ii) Complying with the provisions of Circular No. 01/2015/TT-NHNN dated January 06, 2015 of the SBV regulating the trading activities and the provision of interest rate derivative products of commercial banks and foreign bank branches (as amended and supplemented by Circular No. 25/2021/TT-NHNN dated December 31, 2021), and other relevant legal provisions.
This Decision took effect from the date of signing and is an integral part of the License for the Establishment of a foreign bank branch No. 04/GP-NHNN dated January 19, 2021 issued by the SBV Governor to KASIKORNBANK Public Company Limited – Ho Chi Minh City Branch.
LK