The State Bank of Vietnam (SBV) issued Documents No. 7742/NHNN-TTGSNH on October 29 to permit the HSBC Bank (Vietnam) Ltd. to change its savings fund into transaction office in Cat Linh ward, Dong Da district, Hanoi.
The SBV requires HSBC Bank (Vietnam) Ltd. to be responsible for implementing procedures to inaugurate, register and publicize newly established transaction office in line with Circular No. 21/2013/TT-NHNN dated September 9, 2013 on operational network of commercial banks and the other applicable legal texts. The Document will cease to be effective if the HSBC Bank (Vietnam) Ltd. does not inaugurate the above – mentioned transaction office within 12 months from the date of signing.
TLH