On April 24, 2020, the State Bank of Vietnam (SBV) issued Decision No.762/QD-NHNN revoking the license of the representative office of the Ogaki Kyoritsu Bank in Ho Chi Minh City (HCMC).
Accordingly, the SBV Governor has decided to revoke License No. 242/GP-NHNN dated November 8, 2011 on the establishment and operations of the representative office of the Ogaki Kyoritsu Bank in HCMC.
The Ogaki Kyoritsu Bank is responsible for implementing the procedures for terminating its operations and closing its representative office in line with Paragraph 1 of Article 18 of Circular No. 24/2017/TT-NHNN dated December 29, 2017 stipulating the sequences and procedures of revoking the licenses and liquidating the assets of credit institutions and foreign banks’ branches; the sequences and procedures of revoking the licenses of representative offices of foreign credit institutions and other foreign institutions with banking operations.
Within seven (7) working days since the effective date of this Decision, HCMC Rep. Office of the Ogaki Kyoritsu Bank is requested to publicize the Decision on a daily national newspaper for three consecutive days, or on Vietnamese electronic news media for seven (7) working days; and publicizing the Decision at its representative head office in Vietnam.
This Decision took effect from the date of signing.
Le Hang