Circular No. 06/2022/TT-NHNN amends and supplements certain articles of Circular No. 50/2018/TT-NHNN regarding the dossier, procedures, and approval process for changes in commercial banks and foreign bank branches. This document provides more detailed regulations on submission of dossiers, approval authority, and processing deadlines.
Scope of application
The State Bank of Vietnam; commercial banks and foreign bank branches
Key points
- Commercial banks and foreign bank branches shall submit dossiers directly or through postal services to the State Bank of Vietnam (Article 1, Clause 4, Article 3).
- The Governor of the State Bank of Vietnam approves changes in commercial banks and large-scale foreign bank branches according to the Governor's decision (Article 1, Clause 1, Article 4).
- The State Bank of Vietnam must respond within fifteen working days from the date of receipt of the request for modification of the main office location or foreign bank branch address on the license (Article 1, Clause 3, Article 6 and Article 7).
- When increasing the charter capital leading to the formation of a major shareholder or change in the position of a major shareholder, commercial banks must submit a request including the name of the shareholder, ownership ratio before and after the increase in capital (Article 1, Point a (iii), Clause 1, Article 12).
- The purchase of shares leading to becoming a major shareholder or purchasing shares of a major shareholder when commercial banks increase their charter capital must be carried out in accordance with the provisions of Articles 12 and 15 of this Circular (Article 1, Clause 3, Article 17).
🌐 Social impact of this document
- Strengthen strict management of changes in commercial banks and foreign bank branches.
- Help the State Bank of Vietnam better control the activities of credit institutions, ensuring national financial system safety.
- Provide specific regulations on processing deadlines for dossiers, helping commercial banks and foreign bank branches understand their responsibilities and rights when making changes.
- May impose additional administrative burdens on credit institutions in preparing and submitting dossiers.
❓ Frequently asked questions
Must commercial banks submit dossiers directly or through postal services?
Yes, commercial banks may submit dossiers directly at the One-Stop Service Center or through postal services to the State Bank of Vietnam (Article 1, Clause 4, Article 3).
What is the processing deadline for dossiers requesting modification of the main office location?
The State Bank of Vietnam must respond within fifteen working days from the date of receipt of the request (Article 1, Clause 3, Article 6 and Article 7).
When must commercial banks submit information about major shareholders?
When increasing the charter capital leading to the formation of a major shareholder or change in the position of a major shareholder, commercial banks must submit a request including the name of the shareholder, ownership ratio before and after the increase in capital (Article 1, Point a (iii), Clause 1, Article 12).
How is the purchase of shares leading to becoming a major shareholder handled?
The purchase of shares leading to becoming a major shareholder or purchasing shares of a major shareholder when commercial banks increase their charter capital must be carried out in accordance with the provisions of Articles 12 and 15 of this Circular (Article 1, Clause 3, Article 17).
Who is responsible for reviewing dossiers for content changes?
The Director of the Office, the Director of Banking Inspection and Supervision, and the Heads of units under the State Bank of Vietnam are responsible for implementation (Article 3).
Full text
CIRCULAR
Amending and supplementing certain articles of Circular No. 50/2018/TT-NHNN dated December 31, 2018 of the Governor of the State Bank of Vietnam on documents, procedures, and processes for approving certain changes in commercial banks and foreign bank branches
Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;
Pursuant to the Law on Credit Institutions dated June 16, 2010; the Law Amending and Supplementing Certain Articles of the Law on Credit Institutions dated November 20, 2017;
Pursuant to Decree No. 16/2017/NĐ-CP dated February 17, 2017 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
At the proposal of the Director of Banking Inspection and Supervision;
The Governor of the State Bank of Vietnam issues this Circular amending and supplementing certain articles of Circular No. 50/2018/TT-NHNN dated December 31, 2018 of the Governor of the State Bank of Vietnam on documents, procedures, and processes for approving certain changes in commercial banks and foreign bank branches.
Article 1. Amending and supplementing certain articles of Circular No. 50/2018/TT-NHNN
1. Amending and supplementing Clause 4 of Article 3 as follows:
"4. Documents shall be submitted directly at the One-Stop Service Center or through postal service to the State Bank of Vietnam or its branch in the province/city authorized (hereinafter referred to collectively as the State Bank)."
2. Amend and supplement Clause 1 of Article 4 as follows:
"1. The Governor of the State Bank approves the changes specified in Clause 1, Article 1 of this Circular for large commercial banks and foreign bank branches according to the decision of the Governor of the State Bank; changes in the location of the office of foreign bank branches outside the province/city where the foreign bank branch is currently located."
3. Amending and supplementing Clause 4, Article 6 as follows:
"4. Within fifteen working days from the date of receipt of the request document as stipulated in Clause 3 of this Article, the State Bank shall issue a decision to amend the location of the headquarters of commercial banks and the location of foreign bank branches in the business license. In case of not amending or supplementing the business license, the State Bank shall issue a reply letter specifying the reasons."
4. Amending and supplementing Clause 5, Article 7 as follows:
"5. Within fifteen working days from the date of receipt of the request document as stipulated in Clause 4 of this Article, the State Bank shall issue a decision to amend the location of the headquarters of commercial banks and the location of foreign bank branches in the business license. In case of not amending or supplementing the business license, the State Bank shall issue a reply letter specifying the reasons."
5. Amending and supplementing Point (iii) Clause 1, Article 12 as follows:
"(iii) In the case of a joint-stock commercial bank increasing its charter capital leading to the formation of a major shareholder or a major shareholder becoming a regular shareholder or a major shareholder purchasing shares, the request document must include the following information: name of the shareholder, ownership ratio before and after the increase in the charter capital of the joint-stock commercial bank;"
6. Amending and supplementing Clause 3, Article 17 as follows:
"3. The purchase of shares by organizations or individuals leading to such organizations or individuals becoming major shareholders or purchasing shares of major shareholders in the case of a joint-stock commercial bank increasing its charter capital shall be carried out in accordance with the provisions of Article 12 of this Circular. The purchase of shares by organizations or individuals leading to such organizations or individuals becoming major shareholders or purchasing shares of major shareholders in the case of a joint-stock commercial bank increasing its charter capital, if such organizations or individuals or major shareholders do not belong to the list of shareholders purchasing shares of the joint-stock commercial bank approved by the State Bank under Point d, Clause 1, Article 12 of this Circular, shall be implemented in accordance with the provisions of Clause 1 and Clause 2 of this Article and Clause 2, Article 15 of this Circular. The approval document of the State Bank regarding the purchase of shares is an integral part of the approval document for increasing the charter capital."
7. Amending and supplementing Clause 1, Article 18 as follows:
"1. The entity responsible for receiving, reviewing, soliciting opinions from relevant units within the State Bank (if necessary), compiling, and submitting to the Governor of the State Bank for examination and approval of changes in the provisions of Articles 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17 in accordance with the authority stipulated in Clause 1, Article 4 of this Circular; within three working days from the date the State Bank receives the document of the commercial bank, foreign bank branch as stipulated in Clause 3, Article 6 and Clause 4, Article 7 of this Circular, the Banking Inspection and Supervision Department shall request the State Bank branch in the province/city where the commercial bank plans to locate its headquarters, foreign bank branch plans to locate its office to inspect whether the conditions for the headquarters of the commercial bank, the office of the foreign bank branch planned to be located in that area are fully met."
8. Supplementing Clause 3 and Clause 4 to Article 19 as follows:
"3. Within seven working days from the date of receipt of the request document from the Banking Inspection and Supervision Department, the State Bank branch in the province/city where the commercial bank plans to locate its headquarters, foreign bank branch plans to locate its office shall conduct inspections to ensure that the conditions for the headquarters of the commercial bank, the office of the foreign bank branch planned to be located in that area are fully met; and send a written opinion to the Banking Inspection and Supervision Department.4. Inspect whether the conditions for the office of the foreign bank branch planned to be located in that area are fully met before issuing a decision to amend the location of the office of the foreign bank branch in the business license in accordance with the authority stipulated in Clause 2, Article 4 of this Circular."
Article 2. Transitional provisions
Requests to amend the location of the headquarters of commercial banks and the office of foreign bank branches in the business license submitted before the effective date of this Circular shall continue to be examined and processed in accordance with the laws at the time of submission of the documents.
Article 3. Implementation Organization
The Director of the Office, the Director of the Banking Inspection and Supervision Department, the Heads of units under the State Bank of Vietnam, commercial banks, and foreign bank branches are responsible for implementing this Circular.
Article 4. Implementation provisions
This Circular takes effect from August 15, 2022./.
DEPUTY DIRECTOR
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