The Governor of the State Bank of Vietnam (SBV) issued Decision No. 892/QĐ-NHNN on May 8, 2017 to allow Mizuho Bank, Limited – Hochiminh City (HCMC) branch to provide additional services.
Accordingly, the SBV Governor allows HCMC branch of Mizuho Bank to provide “domestic factoring” and add new service to Item 3 of License No.02/GP-NHNN dated March 30, 2006 of the Mizuho Corporate Bank, Ltd – HCMC branch (which now is Mizuho Bank, Ltd – HCMC branch).
In the process of carrying out the above-mention substance, HCMC branch of Mizuho Bank is responsible for complying with all regulations on factoring activities as stipulated in Decision No.30/2008/QĐ-NHNN dated October 16, 2008 by the SBV Governor on revising several articles of the regulation on factoring activities of credit institutions issued in conjunction with the Decision No.1096/2004/QĐ-NHNN dated September 6, 2004 of the SBV Governor and relevant laws.
Mizuho Bank, Ltd – HCMC branch is responsible for implementing legal procedures as stipulated in Item 3, Article 18b of Circular No.40/2011/TT-NHNN dated December 15 2011, issued by the SBV Governor on the granting of license and organization, performance of commercial banks, branches of foreign banks, representative offices of foreign credit institutions and other foreign organizations with banking operations in Vietnam (revised and supplemented by Circular No 08/2015/TT-NHNN) to implement the above-mentioned content of revision.
This Decision took effect on the date of signing and is integral parts of License No. No.02/GP-NHNN dated March 30, 2006 issued by the SBV Governor for Mizuho Corporate Bank, Ltd – HCMC branch (which now is Mizuho Bank, Ltd – HCMC branch).
Thoa Le