SBV revises License of Cathay United Bank – Ho Chi Minh City Branch

Accordingly, the Director of 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. 107/GP-NHNN dated November 01, 2018 issued by the SBV Governor to Cathay United Bank – Ho Chi Minh City Branch, to read as follows:

“Trading and providing interest rate derivative products in the domestic and international markets”.

Cathay United Bank – 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 dated December 15, 2011 of the SBV stipulating the issuance of licenses, the organization and the operations of commercial banks, foreign bank branches, representative offices of foreign credit institutions, other institutions with banking operations in Vietnam (as amended and supplemented by Circular No. 17/2017/TT-NHNN dated November 20, 2017; Circular No. 17/2018/TT-NHNN dated August 14, 2018; Circular No. 28/2018/TT-NHNN dated November 30, 2018; Circular No. 25/2019/TT-NHNN dated December 02, 2019 and Circular No. 28/2021/TT-NHNN dated December 31, 2021 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. 107/GP-NHNN dated November 01, 2018 issued by the SBV Governor to Cathay United Bank – Ho Chi Minh City Branch.

LK