The State Bank of Vietnam (SBV) issued Decision No.2214/QĐ-NHNN on October 24, 2017 to revise the License of the Petrolimex Group Joint-Stock Commercial Bank (PG Bank).
Accordingly, the SBV Governor approved the addition of operation of “trading and providing forex services in the domestic and international market in line with the scope of operations stipulated by the SBV" to Item 8, License No.0045/NH-GP dated November 11, 1993 for PG Bank.
PG Bank is responsible for implementing above-mentioned activities in accordance with laws on foreign currencies and relevant regulations; Accomplishing procedures as stipulated in Item 3, Article 18 of Circular No.40/2011/TT-NHNN dated December 15th, 2011 of the SBV Governor on granting license and organization, performance of commercial banks, branches of foreign banks, representative offices of foreign credit institutions and other foreign institutions with banking operations in Vietnam (as revised by Circular No 08/2015/TT-NHNN dated June 30, 2015).
Decision No. 2214/QĐ-NHNN takes effect from the date of signing and is an integral part of License No.0045/NH-GP dated November 11, 1993 for PG Bank.
Decision No.1209/QĐ-NHNN dated June 6, 2007 on approving PG Bank to provide forex services, Certification on confirming adequate conditions of providing foreign exchange services No. 8191/NHNN-CNH dated September 8, 2008, Certification on confirming registration of providing foreign exchange services No. 9977/NHNN-CNH dated November 11, 2008 and other documents on approving other basic foreign exchange services granted by SBV for PG Bank prior to the date of signing Decision No. 2214/QĐ-NHNN cease to be effective from the date of signing this Decision.
Nguyen Giang