On August 12, 2020, the State Bank of Vietnam (SBV) issued Decision No. 1405/QD-NHNN revising the License of Vietnam – Russia Joint venture Bank (VRB).
Accordingly, the SBV Governor has approved of the revision of the substance in Paragraph 2 of Article 1 of License No. 88/GP-NHNN dated September 18, 2020 issued for the VRB, to read as follows: “2. Address of the head office: Building No.75, Tran Hung Dao street, Tran Hung Dao ward, Hanoi”.
The VRB is responsible for ensuring the conditions of its head office as regulated in Paragraph 2, Article 23 of Circular No. 40/2011/TT-NHNN dated December 15, 2011 on granting licenses to commercial banks, foreign bank branches, representative offices of foreign credit institutions and other foreign institutions with banking operations in Vietnam, which was amended and supplemented by Paragraph 13 of Article 1 of Circular No. 28/2018/TT-NHNN of the SBV Governor dated November 30, 2018.
In addition, the VRB is also required to implement the regulations in Paragraph 4, Article 29 of the Law on Credit Institutions.
This Decision took effect from the date of signing and is an integral part of License No. 88/GP-NHNN dated September 18, 2018 issued for the VRB.
Le Hang