On June 7th, 2019, the State Bank of Vietnam (SBV) issued Decision No. 1198/QD-NHNN on extending the operation duration of JP Morgan Chase, N.A Bank - Ho Chi Minh City Branch
Specifically, the SBV Governor approved the extension of operation duration and the amendment of the content stipulated in Article 2 License No. 09/NH-GP dated July 27th, 1999 granted to the Chase Manhattan Bank (now known as JP Morgan Chase, N.A - Ho Chi Minh Branch), as follows: "The Branch's operation duration is 99 years from the date of signing this Decision".
The SBV Governor also required JP Morgan Chase, N.A - Ho Chi Minh City Branch to fully implement the procedures in line with Paragraph 3 of Article 18b of Circular No.40/2011/TT-NHNN dated December 15th, 2011 on granting licenses to commercial banks, foreign bank branches and representative offices of foreign credit institutions and other foreign institutions with banking operations in Vietnam (as amended and supplemented by Circular No. 17/2017/TT-NHNN dated November 20th, 2017 and Circular No.28/2018/TT-NHNN dated November 30th, 2017).
This Decision took effect from the date of signing and is an integral part of License No. 09/NH-GP dated July 27th, 1999 granted to the Chase Manhattan Bank (now known as JP Morgan Chase, N.A - Ho Chi Minh Branch).
VA