On November 22, 2019, the State Bank of Vietnam (SBV) issued Decision No. 2438/QD-NHNN revising the License for the establishment and operations of the Asia Commercial Joint Stock Bank (ACB).
Accordingly, the SBV revises Point 1, Article 1 of License for the Establishment and Operations No. 91/GP-NHNN dated September 19, 2018 of the SBV Governor granted to the Asia Commercial Joint Stock Bank, to read as follows:
"Bank name:
Full-name in Vietnamese: Ngân hàng thương mại cổ phần Á Châu;
Full-name in English: Asia Commercial Joint Stock Bank;
Abbreviation: ACB;”
At the same time, the SBV also amends Article 2 of License for the Establishment and Operations No. 91/GP-NHNN, to read as follows: "Charter capital of the Asia Commercial Joint Stock Bank is 16,627,372,770,000 VND (Sixteen thousand, six hundred twenty seven billion, three hundred seventy two million, seven hundred and seventy thousand Vietnamese dongs)”.
The Asia Commercial Joint Stock Bank is responsible for implementing the provisions in Paragraph 4, Article 29 of the 2010 Law on Credit Institutions (as amended and supplemented) with respect to the amendment stated in this Decision.
This Decision takes effect from the date of signing and is an integral part of License for the Establishment and Operations No. 91/GP-NHNN dated September 19, 2018 of the SBV Governor granted to the ACB. Decision No. 74/QD-NHNN dated January 15, 2019, amending the contents of License for the Establishment and Operations of the Asia Commercial Joint Stock Bank shall expire from the effective date of this Decision.
VA