Circular No. 53/2025/TT-NHNN on the network operation of credit organizations that are cooperatives

CIRCULAR

Regulations on the network of operations of credit organizations that are cooperatives

On the basis of Law on the State Bank of Vietnam No. 46/2010/QH12;

On the basis of Law on Credit Organizations No. 32/2024/QH15 amended and supplemented by Law No. 96/2025/QH15;

On the basis of Law on Cooperatives No. 17/2023/QH15;

Decree No. 26/2025/NĐ-CP of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the Credit Institution System Safety Department;

The Governor of the State Bank of Vietnam issues this Circular to regulate the network of operations of credit organizations that are cooperatives.

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

1. This Circular stipulates on:

a) Establishment, opening for operation, change of name, change of location, cessation of operations, dissolution of branches, service offices, representative offices, and non-profit units of cooperative banks; change of branch managing service offices of cooperative banks;

b) Establishment, opening for operation, change of name, change of location, cessation of operations, dissolution of service offices of people's credit funds;

c) Notification of information regarding establishment, change of name, change of location, cessation of operations, dissolution of branches, service offices, representative offices, and related information to the business registration authority.

2. The establishment of service offices of people's credit funds through restructuring does not fall within the scope regulated by this Circular.

Article 2. Applicability

1. Credit organizations that are cooperatives include cooperative banks and people's credit funds.

2. Organizations and individuals related to the establishment, opening for operation, cessation of operations, dissolution, change of name, location of branch headquarters, service offices, representative offices, and non-profit units of cooperative banks, service offices of people's credit funds, and change of branch managing service offices of cooperative banks.

Article 3. Explanation of Terms

In this Circular, the following terms shall be understood as follows:

1. The network of operations of cooperative banks includes branches, service offices, representative offices, and non-profit units within the country.

2. The network of operations of people's credit funds includes service offices.

3. A branch is a dependent unit of a cooperative bank, with separate accounting, having its own seal, and tasked with performing one or more functions of the cooperative bank according to internal regulations and laws.

4. A service office of a cooperative bank is a type of branch, a dependent unit of a cooperative bank, managed by a branch of the cooperative bank, with separate accounting, having its own seal, located at a place within the operating area of the managing branch, and tasked with performing one or more functions of the cooperative bank according to internal regulations and laws.

5. A representative office is a dependent unit of a cooperative bank, having its own seal, and performs the function of representing the cooperative bank by proxy. A representative office may not engage in business activities.

6. A non-profit unit is a dependent unit of a cooperative bank, having its own seal, and performs one or more support activities for the business operations of the cooperative bank.

7. A service office of a people's credit fund is a type of branch, a dependent unit of a people's credit fund, with separate accounting, having its own seal, located at a place within the operating area of the people's credit fund, and tasked with performing one or more functions of the people's credit fund according to internal regulations and laws.

8. The date of request is the date, month, and year recorded on the document requesting the establishment of branches, service offices, representative offices, and non-profit units of cooperative banks; service offices of people's credit funds.

9. Head refers to the Branch Manager or equivalent positions (hereinafter referred to as Branch Manager), Service Office Manager or equivalent positions (hereinafter referred to as Service Office Manager), Representative Office Director or equivalent position.

10. Information about the head includes full name, gender, date of birth, nationality, type of legal document, number of legal document, date of issuance, issuing authority, permanent address, and contact address.

11. Information about the name of the network unit includes full name in Vietnamese; full name in foreign language, abbreviated name (if any).

12. Information about the address of the network unit includes address, telephone, fax, email; website (if any).

Article 4. Competence to approve the network of credit organizations that are cooperatives

1. The Governor of the State Bank of Vietnam shall consider:

a) Approving the establishment of branches of cooperative banks;

b) Compelling the termination of operations and dissolution of branches of cooperative banks.

2. The Director of the Credit Institution Management and Supervision Department shall consider:

a) Approving the establishment of transaction offices, representative offices, and public service units of cooperative banks;

b) Compelling the termination of operations and dissolution of transaction offices, representative offices, and public service units of cooperative banks.

3. The Director of the State Bank of Vietnam Regional Branch shall consider:

a) Approving changes in the location of the headquarters of branches and transaction offices of cooperative banks within their jurisdiction (including cases where the change occurs before the commencement of operations);

b) Approving the voluntary termination of operations and dissolution of branches and transaction offices of cooperative banks;

c) Approving the establishment, changes in the location of the headquarters (including cases where the change occurs before the commencement of operations), termination of operations, and dissolution of transaction offices of people's credit funds within their jurisdiction.

4. In certain specific cases, the Governor of the State Bank of Vietnam shall consider and decide on approval for the establishment of branches, transaction offices, representative offices, and public service units of cooperative banks based on procedures and formalities stipulated in this Circular and in accordance with actual conditions to:

a) Serve the goals of economic, social, political, security, defense development, and monetary policy management during each period;

b) Support cooperative banks in participating in handling people's credit funds under special supervision.

Article 5. Activities of public service units and transaction offices of cooperative banks and regulations for transaction offices of people's credit funds

1. Public service units of cooperative banks carry out one or more support activities for the business operations of cooperative banks, including:

a) Researching and applying banking technology for cooperative banks;

b) Training and enhancing professional skills and information technology techniques for staff of cooperative banks and member people's credit funds;

c) Storing databases, collecting, and processing information to serve the business operations of cooperative banks;

d) Other activities supporting the business operations of cooperative banks in compliance with legal provisions.

2. The total outstanding loan balance of a transaction office of a cooperative bank to a customer who is not a member people's credit fund must not exceed VND 2 billion after fully meeting the capital adjustment needs of the people's credit fund.

3. The total outstanding loan balance of a transaction office of a people's credit fund to a customer must comply with the credit limit regulations stipulated in the Law on Credit Institutions and related laws and must not exceed VND 100 million.

Article 6. Operating territory, branch names, transaction office names

1. Operating territory of branches and transaction offices of cooperative banks:

a) A branch of a cooperative bank operates in the province or centrally-administered city (hereinafter referred to as province or city) where its headquarters is located and one or several adjacent provinces or cities. The cooperative bank decides on the operating territory of the branch but must ensure that it does not overlap with the territory of other provinces or cities.

In cases where a cooperative bank has established more than one branch with headquarters in a province or city before the effective date of this Circular, these branches may continue to operate in that province or city.

When conducting activities involving people's credit funds (including joint lending with people's credit funds as prescribed by law), the operating territory of the branch is determined by the cooperative bank to ensure the goal of supporting the activities of member people's credit funds;

b) A transaction office of a cooperative bank operates in the province or city where its headquarters is located.

When conducting activities involving people's credit funds (including joint lending with people's credit funds as prescribed by law), the operating territory of the transaction office can be expanded to adjacent provinces or cities according to the decision of the cooperative bank to ensure the goal of supporting the activities of member people's credit funds;

c) The provision of products and services by branches and transaction offices of cooperative banks through electronic means shall be carried out in accordance with relevant laws.

2. A transaction office of a people's credit fund operates in the administrative unit at the commune level where its headquarters is located.

3. The names of branches and transaction offices of cooperative banks and people's credit funds must comply with relevant legal provisions and be named as follows:

a) Branch name: Cooperative Bank - Branch "branch name";

b) Transaction office name:

(i) Cooperative Bank - Branch "branch name" (the managing branch) - Transaction Office "transaction office name" or Cooperative Bank - Transaction Office "transaction office name";

(ii) People's Credit Fund "people's credit fund name" - Transaction Office "transaction office name".

Article 7. Number of Branches and Transaction Rooms

1. For Credit Cooperatives:

a) In the territory of one province or city, a credit cooperative may establish a maximum of 01 branch, except for the territory of provinces or cities that already have more than 01 branch established before this Circular takes effect.

b) One branch manages a maximum of 05 transaction rooms.

2. For People's Credit Funds:

A People's Credit Fund may establish a maximum of 02 transaction rooms in the territory of one commune-level administrative unit.

Article 8. Principles for Establishing, Submitting, Receiving, and Delivering Documents

1. The request for approval document of a credit cooperative shall be signed by the legal representative or a person authorized by the legal representative of the credit cooperative (hereinafter referred to as the authorized representative). In case of signing by an authorized representative, the document must include a power of attorney in accordance with the provisions of the law.

2. The request for approval document of a credit cooperative (hereinafter referred to as the request document) shall be prepared in 01 set in Vietnamese. Copies of documents in the file must be certified in accordance with the provisions of the law. In cases where the documents are copies that are not certified copies or copies issued from original books, the credit cooperative must present the originals for comparison when submitting the file; the comparator must sign to confirm on the copy and bear responsibility for the accuracy of the copy compared to the original. Documents in the electronic file are scanned copies from the original or the original (PDF format files).

3. The document requesting additional information, the reply document, and the Decision approving of the State Bank of Vietnam (hereinafter referred to as the State Bank) and the State Bank branch Regional shall be issued in paper form or electronic form.

4. The credit cooperative shall submit the request document through one of the following methods:

a) Submitting directly at the One-Stop Service Window of the State Bank, State Bank branch in the region;

b) Send through postal service;

c) Submit online via the National Public Service Portal. When submitting the request document online via the National Public Service Portal, the electronic file must use digital signatures in accordance with the provisions of the law on administrative procedures in the electronic environment. In case the National Public Service Portal encounters technical issues or errors preventing the acceptance and exchange of electronic information, the declaration, submission, receipt, delivery of results, exchange, and feedback of information shall be carried out through postal services or directly at the Single Window Department of the State Bank and the State Bank branch Regional.

5. The acceptance of documents shall be carried out in accordance with the current regulations of the law on administrative procedures under the one-stop shop mechanism at the Single Window Department and the National Public Service Portal, and in accordance with the provisions of this Circular.

6. The State Bank and the State Bank branch Regional shall deliver the results of the administrative procedures stipulated in this Circular through online methods or postal services or directly at the Single Window Department of the State Bank and the State Bank branch Regional.

Article 9. Regulations on Network Management

1. Credit cooperatives must establish Network Management Regulations to ensure safe and effective operations, appropriate to the management capacity of each type of network unit and in compliance with the law, including the following minimum contents:

a) Organizational structure and personnel;

b) Content, scope of activities, accounting mechanisms;

c) Limits for each business activity for one customer, group of customers, and all customers; limits for each type of risk;

d) Management and supervision mechanisms of the headquarters, branches over objects within the network to ensure safe and effective operations, safe money transfers, and cash reserves;

đ) Standards and conditions for the Branch Manager, Deputy Branch Manager, Transaction Room Manager, Heads of specialized departments, Representative Office Managers, Heads of public service units, or equivalent positions in accordance with the law and ensuring sufficient professional competence and ethical standards to manage operations.

2. The regulations must specify the operational limits for branches and transaction rooms, and the activities of transaction rooms must be more restricted than those of branches to ensure suitability with management capabilities and scale of operations.

3. The regulations must be reviewed at least once a year to ensure consistency with changes in network units and market conditions.

4. Within 05 working days from the date of issuance, amendment, supplementation, or replacement of the Network Management Regulations, credit cooperatives must submit to the State Bank; people's credit funds must submit to the State Bank branch Regional where the people's credit fund is headquartered.

Chapter II

REGULATIONS ON THE NETWORK OF OPERATIONS OF CREDIT COOPERATIVES

Section 1

ESTABLISHMENT OF BRANCHES, TRANSACTION ROOMS, REPRESENTATIVE OFFICES, AND PUBLIC SERVICE UNITS OF CREDIT COOPERATIVES

Article 10. Conditions for establishing a branch of a cooperative credit institution

1. Comply fully with all regulations on asset classification, provisioning ratio, provisioning method, and the use of provisions to address risks in operations as prescribed by law within twelve months prior to the application date and at the time of approval; the non-performing loan ratio according to the State Bank's asset classification regulations at December 31 of the preceding year and at the end of the month immediately preceding the application date shall not exceed 3% or another ratio determined by the Governor of the State Bank during each period.

2. Have an organizational structure and operation of the management and control system, Supervisory Board, internal audit; internal control system; credit granting activities; limits and ratios ensuring safety in operations as stipulated by the Law on Credit Organizations and guidelines of the State Bank within twelve months prior to the application date and at the time of approval.

3. Operate profitably based on the audited financial report of the preceding year.

4. Not be subject to measures prohibiting expansion of the network.

5. Ensure the number of branches as prescribed in point a, Clause 1, Article 7 of this Circular.

Article 11. Conditions for establishing a representative office or a public service unit of a cooperative credit institution

A cooperative credit institution proposing to establish a representative office or a public service unit must meet the conditions prescribed in Clause 4, Article 10 of this Circular.

Article 12. Conditions for establishing a transaction office of a cooperative credit institution

1. Meet the conditions prescribed in Clauses 1, 2, 3, and 4, Article 10 of this Circular.

2. The branch expected to manage the transaction office must ensure the following conditions:

a) Have a minimum operating period of twelve months from the opening date to the application date;

b) Comply fully with all regulations on credit granting, credit limits, asset classification, provisioning ratio, provisioning method, and the use of provisions to address risks in operations as prescribed by law within twelve months prior to the application date;

c) The proposed transaction office must be located within the operational area of the branch;

d) Ensure the number of transaction offices as prescribed in point b, Clause 1, Article 7 of this Circular.

Article 13. Documents for requesting approval to establish a branch, transaction office, representative office, or public service unit of a cooperative credit institution

1. A document from the cooperative credit institution requesting the State Bank to approve the establishment of a branch, transaction office, representative office, or public service unit in accordance with the form prescribed in Appendix I issued together with this Circular.

2. Resolution of the Board of Directors on the establishment of a branch, transaction office, representative office, or public service unit.

3. The establishment proposal must include at least the following contents:

a) For the establishment of a branch or transaction office:

(i) Full name in Vietnamese; abbreviated name in Vietnamese; address;

(ii) Reasons for establishment and reasons for choosing the operational area;

(iii) Organizational structure: Organizational chart of the branch or transaction office;

(iv) Name and location of the branch expected to manage the transaction office; compliance with the conditions of the branch expected to manage the transaction office as prescribed in Clause 2, Article 12 of this Circular (in case of establishing a transaction office);

(v) Feasibility study: Analysis of the business environment, target market, business opportunities, and market penetration plans, and the need to serve people's credit funds in the area;

(vi) Proposed business plan for the first three years, including at least: Activities, main customer groups, projected balance sheet, income statement, basis for developing the plan, and explanation of the ability to implement the plan each year;

b) For the establishment of a representative office or public service unit:

(i) Full name in Vietnamese, abbreviated name in Vietnamese, address, and activities;

(ii) Reasons for establishment;

(iii) Proposed activity plan for the first three years.

Article 14. Procedures for Approving the Establishment of Branches, Transaction Rooms, Representative Offices, and Non-Business Units of Cooperative Credit Institutions

1. The cooperative credit institution shall prepare one set of documents in accordance with Article 13 of this Circular and submit it to the State Bank.

2. Within seven working days from the date of receipt of the documents specified in Clause 1 of this Article, the State Bank shall issue a document confirming that it has received all valid documents. In cases where the documents are incomplete or invalid, the State Bank shall issue a document requesting the cooperative credit institution to supplement and complete the documents.

3. Within seven working days from the date of receiving the confirmation document stating that all valid documents have been received in accordance with Article 13 of this Circular:

a) The State Bank shall issue a document to seek opinions from the People's Committee of the province or city where the cooperative credit institution plans to establish its branch regarding the necessity of establishing the branch within the area.

b) The Department of Credit Institution Management and Supervision shall issue a document to seek opinions from the State Bank's Regional Branch where the cooperative credit institution plans to establish its branch or transaction room regarding the necessity of establishing the branch or transaction room within the area; the areas planned for opening transaction rooms; compliance with conditions stipulated in this Circular for the branch managing the transaction rooms (in case of establishing a transaction room).

4. Within seven working days from the date of receiving the State Bank's document, the Department of Credit Institution Management and Supervision, and other agencies and units specified in Clause 3 of this Article shall provide their written comments on the matters proposed.

5. Within twelve working days from the date of receiving all comments from the agencies and units specified in Clause 4 of this Article, the Department of Credit Institution Management and Supervision shall submit to the Governor of the State Bank for consideration and approval of the cooperative credit institution's establishment of a branch.

6. Within thirty working days (for the case of establishing a branch) from the date of receiving the confirmation document stating that all valid documents have been received in accordance with Article 13 of this Circular, the State Bank shall issue an approval document for the establishment of the branch of the cooperative credit institution according to the form prescribed in Appendix II attached to this Circular. If not approved, the State Bank shall issue a document to the cooperative credit institution specifying the reasons.

Within thirty working days (for the case of establishing a transaction room) or twenty-one working days (for the case of establishing a representative office or non-business unit) from the date of receiving the confirmation document stating that all valid documents have been received in accordance with Article 13 of this Circular, the Department of Credit Institution Management and Supervision shall issue an approval document for the establishment of the transaction room, representative office, or non-business unit of the cooperative credit institution according to the form prescribed in Appendix III attached to this Circular. If not approved, the Department of Credit Institution Management and Supervision shall issue a document to the cooperative credit institution specifying the reasons.

7. Within twelve months from the date the State Bank or the Department of Credit Institution Management and Supervision issues the approval document as specified in Clause 6 of this Article, the cooperative credit institution must commence operations of the branch, transaction room, representative office, or non-business unit. Failure to commence operations beyond this period will result in the approval document becoming automatically invalid.

Section 2

OPENING OF OPERATIONS FOR BRANCHES, TRANSACTION ROOMS, REPRESENTATIVE OFFICES, AND NON-BUSINESS UNITS OF COOPERATIVE CREDIT INSTITUTIONS

Article 15. Commencement of Branch and Transaction Office Operations of Cooperative Banks

1. Requirements for Commencing Branch Operations:

a) Possessing lawful ownership or usage rights to the branch headquarters; the headquarters must ensure storage of documents, convenience and safety for transactions and assets, with a complete security and protection system, uninterrupted power supply and communication systems, meeting fire prevention and explosion control requirements;

b) The branch headquarters must have a secure cash vault according to the standards set by the State Bank of Vietnam. In cases where cooperative banks currently have more than one branch within the same province or city that was approved by the State Bank of Vietnam before this Circular takes effect, the cooperative bank must have at least one branch with a cash vault according to the State Bank's standards and must be responsible for transferring funds from branches without cash vaults to the branch with a cash vault as stipulated in the internal regulations of the cooperative bank;

c) Having an information technology system connected online with the main headquarters, ensuring continuous, safe, and secure operation of the information technology system and database for business activities;

d) Having a full management staff including the Branch Director and a team of business officers. The Branch Director cannot concurrently hold other positions or perform other tasks within the cooperative bank;

đ) The Branch Director must meet the criteria and conditions specified by the Governor of the State Bank of Vietnam regarding cooperative banks, the allocation, management, and utilization of the Fund for Ensuring the Safety of the Credit Cooperative System;

2. Requirements for Commencing Transaction Office Operations:

a) Possessing lawful ownership or usage rights to the transaction office headquarters; the headquarters must ensure convenience and safety for transactions and assets, with a complete security and protection system, uninterrupted power supply and communication systems, meeting fire prevention and explosion control requirements;

b) The transaction office must have a minimum secure safe;

c) Having an information technology system connected online with the managing branch, ensuring continuous, safe, and secure operation of the information technology system and database for business activities;

d) Having a full management staff including the Transaction Office Director and a team of business officers. The Transaction Office Director cannot concurrently hold other positions or perform other tasks within the cooperative bank;

đ) The Transaction Office Director must meet the criteria and conditions for the Branch Director as specified by the Governor of the State Bank of Vietnam regarding cooperative banks, the allocation, management, and utilization of the Fund for Ensuring the Safety of the Credit Cooperative System;

3. The cooperative bank shall submit a report to the State Bank of Vietnam Regional Branch where the branch or transaction office headquarters is located, at least 10 working days prior to the planned commencement date of branch or transaction office operations, containing the following information:

a) Information on the planned commencement date of operations and compliance with the requirements for commencing branch and transaction office operations as stipulated in Clause 1 and Clause 2 of this Article;

b) Information on the head of the branch or transaction office, their name, address, tax code (if applicable);

4. Within seven working days from the date of receipt of the cooperative bank's report as stipulated in Clause 3 of this Article, the State Bank of Vietnam Regional Branch:

a) Shall inspect the compliance with the requirements for commencing branch and transaction office operations of the cooperative bank as stipulated in Clause 1 and Clause 2 of this Article;

b) Shall issue a confirmation record verifying compliance or non-compliance with the requirements for commencing branch and transaction office operations of the cooperative bank;

5. The cooperative bank shall commence branch and transaction office operations after fulfilling the information disclosure requirements as stipulated in Article 17 of this Circular.

Article 16. Commencement of operations of representative offices and non-business units of cooperative banks

1. Cooperative banks shall decide on the commencement of operations of representative offices and non-business units and issue a written notice to be sent to the State Bank of Vietnam branch in the region where the representative office or non-business unit is located, at least seven working days before the date of commencement of operations.

2. The notice of commencement of operations of representative offices and non-business units of cooperative banks shall include:

a) Information about the expected date of commencement of operations;

b) Information about the head, name, address, tax code (if applicable) of the representative office or non-business unit.

Article 17. Announcement of information regarding the establishment of branches and transaction offices of cooperative banks

1. Within three working days from the date of receiving the minutes of the State Bank of Vietnam branch in the region confirming compliance with the requirements for commencement of operations as stipulated in point b, Clause 4, Article 15 of this Circular, the cooperative bank must announce the following information:

a) Number, date, and content of approval in the approval document of the State Bank regarding the establishment of branches and transaction offices;

b) Name, location, expected date of commencement of operations, and other relevant information (if necessary).

2. The cooperative bank must publish the information specified in Clause 1 of this Article on:

a) The cooperative bank's website, the headquarters of the branch or transaction office concerned;

b) The State Bank of Vietnam's electronic portal;

c) One printed newspaper in three consecutive issues or on one online newspaper in Vietnam.

Section 3

CHANGE OF NAME, LOCATION OF BRANCH HEADQUARTERS, TRANSACTION OFFICES, REPRESENTATIVE OFFICES, NON-BUSINESS UNITS; CHANGE OF MANAGING BRANCH OF TRANSACTION OFFICES OF COOPERATIVE BANKS

Article 18. Change of name of branches and transaction offices of cooperative banks

1. Cooperative banks shall decide on the change of name of branches and transaction offices.

2. Within five working days from the date of the decision on changing the name of branches and transaction offices, the cooperative bank shall issue a report to the State Bank of Vietnam branch in the region where the branch or transaction office is located regarding the change of information on the name of the branch or transaction office, except in cases stipulated in Clause 3 of this Article.

3. In case of changing the name of branches and transaction offices prior to the commencement of operations, the cooperative bank shall comply with the provisions of Clause 3, Article 15 of this Circular.

Article 19. Change of location of branch headquarters and transaction offices of cooperative banks

1. Cooperative banks may change the location of branch headquarters and transaction offices within the province or city and between provinces or cities.

2. The application dossier for changing the location of branch headquarters and transaction offices includes:

a) A written request of the cooperative bank for approval to change the location of branch headquarters and transaction offices according to the model prescribed in Appendix IV issued together with this Circular;

b) Resolution of the Board of Directors approving the change of location of branch headquarters and transaction offices.

3. Procedure for approval in the case of changing the location of branch headquarters and transaction offices within the same province or city:

a) The cooperative bank shall prepare one set of dossier in accordance with Clause 2 of this Article and submit it to the State Bank of Vietnam branch in the region where the branch or transaction office is located;

b) Within seven working days from the date of receipt of the complete dossier as stipulated in Clause 2 of this Article, the State Bank of Vietnam branch in the region where the branch or transaction office is located shall issue a written notice to the cooperative bank approving the change of location of branch headquarters and transaction offices according to the model prescribed in Appendix V issued together with this Circular. If not approved, the State Bank of Vietnam branch shall issue a written notice to the cooperative bank and specify the reasons.

4. Procedure for approval in the case of changing the location of branch headquarters and transaction offices between provinces or cities under the management of one State Bank of Vietnam branch:

a) The cooperative bank shall prepare one set of dossier in accordance with Clause 2 of this Article and submit it to the State Bank of Vietnam branch in the region where the branch or transaction office is located;

b) Within five working days from the date of receipt of the complete dossier as stipulated in Clause 2 of this Article, the State Bank of Vietnam branch in the region where the branch is located shall issue a written notice seeking the opinion of the People's Committee of the province or city where the branch is planned to be relocated regarding the necessity of having a branch in that area;

c) Within five working days from the date of receipt of the written notice requesting opinions as stipulated in point b, Clause 4 of this Article, the People's Committee of the province or city where the branch is planned to be relocated shall provide written comments on the matters requested;

d) Within seven working days from the date of receipt of the comments of the People's Committee of the province or city as stipulated in point c, Clause 4 of this Article (in the case of changing the location of branch headquarters) or within seven working days from the date of receipt of the complete dossier as stipulated in Clause 2 of this Article (in the case of changing the location of transaction office headquarters), the State Bank of Vietnam branch in the region where the cooperative bank has its branch or transaction office headquarters shall issue a written notice to the cooperative bank approving the change of location of branch headquarters and transaction offices according to the model prescribed in Appendix V issued together with this Circular. If not approved, the State Bank of Vietnam branch shall issue a written notice to the cooperative bank and specify the reasons.

5. Procedure for approval in the case of changing the location of branch headquarters and transaction offices between provinces or cities under the management of two State Bank of Vietnam branches:

a) The cooperative bank shall prepare one set of dossier in accordance with Clause 2 of this Article and submit it to the State Bank of Vietnam branch in the region where the branch or transaction office is planned to be relocated;

b) Within five working days from the date of receipt of the complete dossier as stipulated in Clause 2 of this Article, the State Bank of Vietnam branch in the region where the branch or transaction office is planned to be relocated shall issue a written notice seeking the opinion:

(i) The State Bank branch in the region where the cooperative bank's branch or transaction office is currently located shall provide a plan for settling assets, rights, obligations, and related interests, and the reasons for changing the location;

(ii) The People's Committee of the province or city where the proposed headquarters of the branch is to be located shall provide an opinion on the necessity of having a branch in that area;

c) Within five working days from the date of receipt of the request document as stipulated in point b, Clause 5, Article of this provision, relevant agencies and units shall provide their opinions in writing on the requested contents;

d) Within seven working days from the date of receiving complete opinions from participating units, the State Bank branch in the region where the cooperative bank plans to establish its branch or transaction office shall issue a document to the cooperative bank approving the change of location for the branch or transaction office according to the model prescribed in Appendix V issued together with this Circular. In case of non-approval, the State Bank branch in the region shall issue a document to the cooperative bank stating the reasons;

đ) Within two working days from the date of receipt of the document approving the change of location for the branch or transaction office, the State Bank branch in the region where the cooperative bank plans to establish its branch or transaction office shall issue a notification to the State Bank branch in the region where the branch or transaction office is currently located regarding the approval of the change of location for the branch or transaction office;

6. The cooperative bank shall submit a report to the State Bank branch in the region where the branch or transaction office is currently located (in case of changing the location of the branch or transaction office within the same province or city or between provinces or cities under the management of one State Bank regional branch), and the State Bank branch in the region where the branch or transaction office is planned to be located (in case of changing the location of the branch or transaction office between provinces or cities under the management of two State Bank regional branches) about compliance with the requirements specified in Clause 2, Article 15 of this Circular and the specific location of the branch (in case of changing the location of the branch); compliance with the requirements specified in Clause 2, Article 15 of this Circular and the specific location of the transaction office (in case of changing the location of the transaction office) at least ten working days before the expected operation date at the approved location;

The implementation of changing the location of the branch or transaction office prior to opening operations shall be carried out in accordance with the provisions of Clause 2 and Clause 3 of this Article and Clause 3 and Clause 4 of Article 15 of this Circular;

7. Within seven working days from the date of receipt of the cooperative bank's report as stipulated in Clause 6 of this Article, the State Bank branch in the region where the branch or transaction office is currently located (in case of changing the location of the branch or transaction office within the same province or city or between provinces or cities under the management of one State Bank regional branch), and the State Bank branch in the region where the branch or transaction office is planned to be located (in case of changing the location of the branch or transaction office between provinces or cities under the management of two State Bank regional branches):

a) Shall inspect compliance with the requirements specified in Clause 1 and Clause 2 of Article 15 of this Circular;

b) Issuing a record confirming compliance or non-compliance with requirements to operate at the new location.

8. The branch or transaction office of the cooperative bank may only operate at the new location after the State Bank branch has issued a confirmation document verifying compliance with the requirements to operate at the new location. Within twelve months from the date of issuance of the approval document by the State Bank branch, the branch or transaction office of the cooperative bank must operate at the approved location. If it does not operate at the approved location beyond this period, the approval document shall become automatically invalid;

9. In case of changing the address of the branch or transaction office due to administrative boundary changes (without changing the location of the branch or transaction office), the cooperative bank shall notify the State Bank branch in the region where the branch or transaction office is located about the change of information regarding the address of the branch or transaction office within three working days from the date of implementing the change. The notification document of the cooperative bank must be accompanied by supporting documents or confirmations from competent administrative authorities regarding the aforementioned address change.

Article 20. Changing the Name, Location of the Head Office of the Representative Office, and Public Service Unit of the Cooperative Bank

1. The cooperative bank decides to change its name, location of the head office of the representative office, and public service unit in accordance with the provisions of the law.

2. Within five working days from the date of the decision to change the name or location of the head office or address without changing the location of the representative office or public service unit, the cooperative bank shall issue a notification letter to the State Bank branch in the region where the representative office or public service unit is located regarding this change. The notification letter on the change of the name and location of the representative office or public service unit shall include information about the name and address of the representative office or public service unit..

In case the location of the representative office or public service unit changes to another province or city, the cooperative bank shall issue a notification letter to the State Bank branch in the region where the representative office or public service unit was previously located; and the State Bank branch in the region where the new representative office or public service unit is located to implement the notification to the business registration authority.

Article 21. Changing the Branch Managing the Transaction Room

1. The cooperative bank decides to change the branch managing the transaction room. The proposed branch managing the transaction room must meet the conditions stipulated in Clause 2, Article 12 of this Circular.

2. Within two working days from the date of the decision to change the branch managing the transaction room, the cooperative bank shall issue a notification letter to the State Bank branch in the region where the current branch managing the transaction room is located and the branch receiving the management of the transaction room.

3. Within five working days from the date of receipt of the cooperative bank's notification regarding the change of the branch managing the transaction room, the State Bank branch in the region where the branch receiving the management of the transaction room is located shall inspect and require the cooperative bank not to change the branch managing the transaction room if the branch receiving the management of the transaction room does not meet the conditions stipulated in Clause 2, Article 12 of this Circular.

Article 22. Announcing Information on Changes of Branches and Transaction Rooms of the Cooperative Bank

1. Within three working days from the date of receipt of the minutes of the State Bank branch in the region confirming compliance with the requirements for operating at the new location as stipulated in Point b, Clause 7, Article 19 of this Circular, the cooperative bank must announce the following information:

a) Number, date, and content of approval in the approval document of the State Bank branch in the region regarding the change of the location of the branch or transaction room head office;

b) Name, location, expected date of operation at the new location, and other information (if necessary).

2. The cooperative bank must publish the information specified in Clause 1 of this Article on:

a) The cooperative bank’s electronic information website; the head office of the branch or transaction room related to the cooperative bank;

b) The State Bank of Vietnam's electronic portal;

c) One printed newspaper in three consecutive issues or on one online newspaper in Vietnam.

3. Within seven working days from the date of implementation of the change as prescribed in Article 18, Clause 9, Article 19, and Article 20 of this Circular, the cooperative bank must announce the cooperative bank's decision on these matters on the cooperative bank’s electronic information website, the head office of the branch or transaction room related to the cooperative bank.

4. Within seven working days from the date of implementation of the change as prescribed in Article 21 of this Circular, in case no request from the State Bank branch in the region is received as stipulated in Clause 3, Article 21 of this Circular, the cooperative bank must announce the cooperative bank's decision on the change content on the cooperative bank’s electronic information website; the head office of the branch or transaction room related to the cooperative bank.

Section 4

TERMINATION OF OPERATIONS AND LIQUIDATION OF BRANCHES, TRANSACTION ROOMS, REPRESENTATIVE OFFICES, AND PUBLIC SERVICE UNITS OF THE COOPERATIVE BANK

Article 23. Termination of operations and dissolution of branches, transaction offices, representative offices, and affiliated units of cooperative banks

1. Branches, transaction offices, representative offices, and affiliated units shall terminate operations and be dissolved in the following cases:

a) Automatic termination of operations and liquidation;

b) Voluntary termination of operations and liquidation;

c) Compulsory termination of operations and liquidation.

2. Cooperative banks shall be responsible for:

a) Resolving assets, rights, obligations, and related interests of branches, transaction offices, representative offices, and affiliated units that have ceased operations and been dissolved in accordance with the provisions of the law;

b) Storing documents, records, and files of branches, transaction offices, representative offices, and affiliated units that have ceased operations and been dissolved, as well as documents related to the termination of operations and dissolution;

c) Implementing legal procedures to terminate operations and dissolve branches, transaction offices, representative offices, and affiliated units in accordance with the provisions of the law.

Article 24. Automatic termination of operations and dissolution of branches, transaction offices, representative offices, and affiliated units of cooperative banks

1. Branches, transaction offices, representative offices, and affiliated units shall automatically cease operations and be dissolved if the cooperative bank ceases operations and is dissolved.

2. Procedures for automatic termination of operations and dissolution of branches, transaction offices, representative offices, and affiliated units shall be carried out in accordance with the provisions of the law.

Article 25. Voluntary termination of operations and dissolution of branches, transaction offices, representative offices, and affiliated units of cooperative banks

1. Documents for voluntary termination of operations and dissolution of branches, transaction offices:

a) A document from the cooperative bank proposing the termination of operations and dissolution of branches, transaction offices, in accordance with the model prescribed in Appendix VI issued together with this Circular;

b) The resolution of the Management Board of the cooperative bank regarding the termination of operations and dissolution of branches, transaction offices;

c) A plan for resolving assets, rights, obligations, and related interests of branches, transaction offices that have ceased operations.

2. Procedure for voluntary termination of operations and dissolution of branches, transaction offices:

a) The cooperative bank shall prepare one set of documents in accordance with Clause 1 of this Article and submit it to the State Bank branch in the region where the branch or transaction office is located;

b) Within twenty working days from the date of receipt of complete documents as stipulated in Clause 1 of this Article for the case of voluntary termination of operations and dissolution of branches, or within seven working days from the date of receipt of complete documents as stipulated in Clause 1 of this Article for the case of voluntary termination of operations and dissolution of transaction offices, the State Bank branch in the region where the cooperative bank's branch or transaction office is located shall issue a written approval of the cooperative bank's proposal in accordance with the model prescribed in Appendix VII issued together with this Circular. In case of non-approval, the State Bank branch in the region shall issue a written notice to the cooperative bank specifying the reasons.

3. Within thirty working days from the date of receiving the written approval of the State Bank branch in the region regarding the termination of operations and dissolution of branches, transaction offices, the cooperative bank must carry out legal procedures in accordance with the provisions of the law to terminate operations and dissolve branches, transaction offices, and submit a written report to the State Bank branch in the region where the branch or transaction office is located on the specific date and results of the termination of operations and dissolution.

4. For the voluntary termination of operations of representative offices and affiliated units, within five working days from the date of cessation of operations of the representative office or affiliated unit, the cooperative bank must submit a written report to the State Bank branch in the region where the representative office or affiliated unit is located, clearly stating the reasons, date of cessation of operations, and dissolution.

Article 26. Compulsory Termination of Operations and Dissolution of Branches, Transaction Rooms, Representative Offices, and Service Units of Cooperative Credit Institutions

1. Branches, transaction rooms, representative offices, and service units of cooperative credit institutions shall be subject to compulsory termination of operations and dissolution under any of the following circumstances:

a) There is evidence proving that the application documents for establishing branches, transaction rooms, representative offices, and service units contain false information leading to incorrect assessment of compliance with the conditions for establishment of such entities of cooperative credit institutions;

b) Changing the location of the branch headquarters or transaction room without written approval;

c) Operating outside the scope and area of activities permitted by law.

2. Upon discovering cases as stipulated in Clause 1 of this Article, the State Bank Inspectorate, the State Bank Branch in the Region where the branch, transaction room, representative office, or service unit of the cooperative credit institution is located, shall submit a written report to the Governor of the State Bank or send it to the Department of Management and Supervision of Credit Organizations requesting the termination of operations and dissolution of the branch, transaction room, representative office, or service unit of the cooperative credit institution, detailing the reasons for the request.

3. Within fifteen working days from the date of receipt of the written request for termination of operations and dissolution of the branch, transaction room, representative office, or service unit of the cooperative credit institution as stipulated in Clause 2 of this Article, or during the supervision process when discovering cases as stipulated in Clause 1 of this Article, the Department of Management and Supervision of Credit Organizations shall issue a written notice or submit a written request to the Governor of the State Bank requiring the cooperative credit institution to terminate operations and dissolve the branch, transaction room, representative office, or service unit.

4. Within ninety days from the date the State Bank issues a written request for the cooperative credit institution to terminate operations and dissolve the branch, transaction room, representative office, or service unit as stipulated in Clause 3 of this Article, the cooperative credit institution must complete the termination of operations and dissolution of the branch, transaction room, representative office, or service unit; and submit a written report to the State Bank and the State Bank Branch in the Region at the specific time and the results of the termination of operations and dissolution.

5. Within twelve months from the date the State Bank issues a written request for the compulsory termination of operations and dissolution of the branch of the cooperative credit institution, the cooperative credit institution must develop a plan to handle the transaction rooms managed by that branch to ensure compliance with the provisions of this Circular.

Article 27. Announcement of Information on the Termination of Operations and Dissolution of Branches, Transaction Rooms, Representative Offices, and Service Units of Cooperative Credit Institutions

1. Within seven working days from the date of termination of operations and dissolution of the branch, transaction room, representative office, or service unit (except in cases of automatic termination of operations and dissolution as provided for in Article 24 of this Circular), the cooperative credit institution must announce the following information:

a) The name and address of the branch, transaction room, representative office, or service unit terminating operations and dissolving;

b) The date of termination of operations and dissolution;

c) The responsibilities of the cooperative credit institution regarding assets, rights, obligations, and related interests of the branch, transaction room, representative office, or service unit terminating operations and dissolving.

2. The cooperative credit institution must announce the information specified in Clause 1 of this Article:

a) On the electronic information website of the cooperative credit institution and the headquarters of the branch, transaction room, or representative office involved;

b) On the electronic information portal of the State Bank;

c) In one print newspaper for three consecutive issues or on one online newspaper in Vietnam;

d) To people's credit funds in the locality (except in cases of termination of operations and dissolution of representative offices or service units).

Section 5

ANNOUNCE INFORMATION TO THE BUSINESS REGISTRATION AUTHORITY

Article 28. The cooperative bank shall provide information to the State Bank Branch in the Region to notify the business registration authority.

1. Within five working days from the date on which the cooperative bank decides to change the head of a branch, transaction office, or representative office, the cooperative bank shall issue a written notice to the State Bank Branch in the Region where the branch, transaction office, or representative office is located regarding the change of information about the head.

2. Within five working days from the date of any change in information related to business registration as prescribed by law other than the contents stipulated in Clause 1 of this Article, the cooperative bank shall issue a written notice to the State Bank Branch in the Region where the branch, transaction office, or representative office is located.

Article 29. Notification of information to the business registration authority concerning the activities of branches, transaction offices, and representative offices of cooperative banks.

1. Within three working days from the date of the confirmation record showing that the cooperative bank has met the requirements for commencing operations as prescribed in Point b, Clause 4, Article 15 of this Circular or within five working days from the date of receipt of the document of the cooperative bank as prescribed in Clause 1, Article 16 of this Circular, the State Bank Branch in the Region shall be responsible for notifying in writing the information about the head, the name, address, tax code (if any) of the branch, transaction office, or representative office along with the approval document for establishment to the business registration authority in accordance with the Government's regulations on registration of cooperatives, cooperative enterprises, and cooperative federations.

2. Within three working days from the date of the confirmation record showing that the cooperative bank has met the requirements as prescribed in Point b, Clause 7, Article 19 of this Circular or within five working days from the date of receipt of the document of the cooperative bank as prescribed in Clause 9, Article 19 and Clause 2, Article 20 of this Circular, the State Bank Branch in the Region shall be responsible for notifying in writing the change of information about the address of the branch, transaction office, or representative office along with the approval document for changing the location of the branch, transaction office to the business registration authority in accordance with the Government's regulations on registration of cooperatives, cooperative enterprises, and cooperative federations.

3. Within five working days from the date of receipt of the document of the cooperative bank as prescribed in Clause 2, Article 18, Clause 2, Article 20, and Article 28 of this Circular, the State Bank Branch in the Region shall be responsible for notifying in writing the change of information about the head, the name of the branch, transaction office, or representative office, and information related to business registration to the business registration authority in accordance with the Government's regulations on registration of cooperatives, cooperative enterprises, and cooperative federations.

4. Within five working days from the date of receipt of the document of the cooperative bank as prescribed in Clause 3, Clause 4, Article 25 and Clause 4, Article 26 of this Circular, the State Bank Branch in the Region shall be responsible for notifying in writing along with the report of the cooperative bank to the business registration authority in accordance with the Government's regulations on registration of cooperatives, cooperative enterprises, and cooperative federations.

Chapter III

PROVISIONS ON THE NETWORK OF OPERATIONS OF PEOPLE'S CREDIT FUNDS

Section 1

ESTABLISHMENT OF TRANSACTION OFFICES, COMMENCEMENT OF OPERATIONS, CHANGE OF NAME, AND LOCATION OF TRANSACTION OFFICES OF PEOPLE'S CREDIT FUNDS

Article 30. Conditions for establishing a transaction office of a people's credit cooperative

1. Comply fully with all regulations on asset classification, provisioning ratio, provisioning method, and the use of provisions to address risks in operations as prescribed by law within twelve months prior to the application date and at the time of approval; the non-performing loan ratio according to the State Bank's asset classification regulations at December 31 of the preceding year and at the end of the month immediately preceding the application date shall not exceed 3% or another ratio determined by the Governor of the State Bank during each period.

2. Have an organizational structure and operation of the management machinery, board of directors, supervisory board, internal audit; internal control system; lending activities; limits and safety ratios in operations as prescribed by the Law on Credit Institutions and guidelines of the State Bank within the last 12 months from the date of application and at the time of approval.

3. Conduct profitable business operations according to the audited financial report of the immediately preceding year or conduct profitable business operations according to the financial report in cases where the State Bank has not yet required independent auditing.

4. Not be subject to measures prohibiting expansion of the network.

5. Ensure the number of transaction offices as prescribed in Clause 2, Article 7 of this Circular.

Article 31. Documents for requesting approval to establish a transaction office of a people's credit cooperative

1. A document of the people's credit cooperative requesting the State Bank branch in the Region to approve the establishment of a transaction office in accordance with the model prescribed in Appendix VIII issued together with this Circular.

2. The resolution of the Board of Directors regarding the establishment of a transaction office.

3. The project for establishing a transaction office, which must include at least the following contents:

a) Full name in Vietnamese; abbreviated name in Vietnamese; address; scope of activities (the scope of activities must comply with the provisions of the Law on Credit Institutions and guidelines of the State Bank); main customer groups;

b) Reasons for establishment and reasons for choosing the establishment area;

c) Organizational structure: Organization chart of the transaction office;

d) Business plan for the first three years, including at least the following: Projected balance sheet; profit and loss statement; basis for formulating the plan and explanation of the feasibility of implementing the plan each year. For people's credit cooperatives proposing to establish a transaction office in areas that are not rural areas, the business plan for the first three years must also include content proving competitiveness, stable operations, and development in the area.

Article 32. Procedure for approving the establishment of a transaction office of a people's credit cooperative

1. The people's credit cooperative prepares one set of documents in accordance with Article 31 of this Circular and sends it to the State Bank branch in the Region where its headquarters is located.

2. Within five working days from the date of receipt of the documents as prescribed in Clause 1 of this Article, the State Bank branch in the Region shall issue a document to the people's credit cooperative confirming receipt of complete and valid documents. In case the documents are incomplete or invalid, the State Bank branch in the Region shall issue a document requesting the people's credit cooperative to supplement and perfect the documents.

3. Within five working days from the date of receiving the confirmation document of having received complete and valid documents as prescribed in Article 31 of this Circular, the State Bank branch in the Region shall issue a document to seek opinions from the People's Committee of the commune where the people's credit cooperative plans to locate the transaction office about the necessity and proposed location of the transaction office.

4. Within seven working days from the date of receipt of the document from the State Bank branch in the Region, the agency as prescribed in Clause 3 of this Article shall provide comments in writing on the content requested.

5. Within eighteen working days from the date of receiving the confirmation document of having received complete and valid documents as prescribed in Article 31 of this Circular, the State Bank branch in the Region shall issue a document approving the request to establish a transaction office of the people's credit cooperative in accordance with the model prescribed in Appendix IX issued together with this Circular. In case of disapproval, the State Bank branch in the Region shall issue a document to the people's credit cooperative stating the reasons.

6. Within twelve months from the date of receipt of the approval document from the State Bank branch in the Region, the people's credit cooperative must commence operations of the approved transaction office. If it fails to commence operations beyond this period, the approval document shall become automatically invalid.

Article 33. Commencement of Operations of Credit Cooperative Branches

1. Requirements for commencement of operations:

a) Possess lawful ownership or usage rights to the branch office premises; the premises must be convenient and safe for transactions, assets, and have a complete security system, protection system, uninterrupted power supply and communication systems that meet fire prevention and explosion control requirements;

b) Have a secure safe;

c) Having an information technology system connected online with the main headquarters, ensuring continuous, safe, and secure operation of the information technology system and database for business activities;

d) Have a minimum management staff including the Branch Manager and a team of professional staff. The Branch Manager shall not concurrently hold other positions or perform other tasks at the credit cooperative;

đ) The Branch Manager must meet the standards and conditions for Branch Managers as stipulated by the Governor of the State Bank regarding credit cooperatives.

2. The credit cooperative shall submit a report to the State Bank Regional Branch where the branch office premises are located at least 10 working days before the planned commencement date of the branch office operations, containing the following contents:

a) The planned commencement date of operations and compliance with the requirements for commencement of branch office operations as prescribed in Clause 1 of this Article;

b) Information about the head of the branch, the name, address, tax code (if applicable) of the branch office.

3. Within seven working days from the date of receipt of the credit cooperative's report as prescribed in Clause 2 of this Article, the State Bank Regional Branch:

a) Inspects compliance with the requirements for commencement of branch office operations as prescribed in Clause 1 of this Article;

b) Issues a record confirming compliance or non-compliance with the requirements for commencement of branch office operations of the credit cooperative.

4. The credit cooperative shall commence branch office operations after completing the information announcement as prescribed in Article 36 of this Circular.

Article 34. Change of Name of Credit Cooperative Branch

1. The credit cooperative decides on the change of the branch name.

2. Within five working days from the date of the decision to change the branch name, the credit cooperative shall submit a report to the State Bank Regional Branch where the main office of the credit cooperative is located regarding the change of information about the branch name, except in cases prescribed in Clause 3 of this Article.

3. In case of changing the branch name before the commencement of operations, the credit cooperative shall comply with the provisions of Clause 2 of Article 33 of this Circular.

Article 35. Change of Location of Branch Office Premises of Credit Cooperatives

1. The credit cooperative may only change the location of the branch office premises within the operational area specified in the establishment and operation permit issued by the State Bank.

2. Documents for requesting a change in the location of the branch office premises include:

a) A document from the credit cooperative requesting approval to change the location of the branch office premises according to the model prescribed in Appendix X attached to this Circular;

b) The Board of Directors' resolution approving the change in the location of the branch office premises.

3. Procedure for approving the change in the location of the branch office premises:

a) The credit cooperative shall prepare one set of documents as prescribed in Clause 2 of this Article and send it to the State Bank Regional Branch where the proposed new premises are located;

b) Within seven working days from the date of receipt of the complete documents as prescribed in Clause 2 of this Article, the State Bank Regional Branch where the proposed new premises are located shall issue a document to the credit cooperative approving the change in the location of the branch office premises according to the model prescribed in Appendix XI attached to this Circular. If disapproval, the State Bank Regional Branch shall issue a document to the credit cooperative stating the reasons.

4. The credit cooperative shall submit a report to the State Bank Regional Branch where the proposed new premises are located regarding compliance with the requirements prescribed in Clause 1 of Article 33 of this Circular and the specific location of the new premises at least ten working days before the planned operation date at the approved location.

The implementation of the change in the location of the branch office premises before the commencement of operations shall be carried out in accordance with the provisions of Clauses 2 and 3 of this Article and Clauses 2 and 3 of Article 33 of this Circular.

5. Within seven working days from the date of receipt of the credit cooperative's report as prescribed in Clause 4 of this Article, the State Bank Regional Branch where the proposed new premises are located:

a) Inspects compliance with the requirements prescribed in Clause 1 of Article 33 of this Circular;

b) Issuing a record confirming compliance or non-compliance with requirements to operate at the new location.

6. The credit cooperative branch office may only operate at the new location after the State Bank Regional Branch issues a confirmation record of compliance with the requirements to operate at the new location. Within twelve months from the date the State Bank Regional Branch issues the approval document, the credit cooperative branch office must operate at the approved location. If it does not operate at the approved location beyond this period, the approval document shall become automatically invalid.

7. In case of changing the address of the branch office premises due to administrative boundary changes (without changing the location of the branch office premises), the credit cooperative shall notify the State Bank Regional Branch where the branch office premises are located about the change in the information about the address of the branch office premises within three working days from the date of the change. The notification document of the credit cooperative must be accompanied by supporting documents or confirmations from competent administrative authorities regarding the aforementioned address change.

Article 36. Announcing Information on the Establishment and Changes of Credit Cooperative Branches

1. Within three working days from the date of receiving the minutes of the State Bank branch confirming compliance with the requirements for opening operations and operating at new locations as stipulated in point b, Clause 3, Article 33 and point b, Clause 5, Article 35 of this Circular, the credit cooperative must publicly announce and post the following information at the People's Committee office of the commune, the main office, and the relevant branches of the credit cooperative, and broadcast it on the communal radio station (if available):

a) The number, date, and content of approval in the approval document of the State Bank branch regarding the establishment of the branch, or the change of the location of the branch headquarters;

b) The name, location, expected opening date, expected operation date at the new location, and other necessary information.

2. Within seven working days from the date of implementing changes as prescribed in Article 34 and Clause 7, Article 35 of this Circular, the credit cooperative must publish the decision of the credit cooperative regarding these matters on its electronic information website (if available) and at the relevant branch offices.

Section 2

TERMINATION OF OPERATIONS AND DISSOLUTION OF CREDIT COOPERATIVE BRANCHES

Article 37. Termination of Operations and Dissolution of Credit Cooperative Branches

1. A credit cooperative branch terminates operations and dissolves in the following cases:

a) Automatic termination of operations and liquidation;

b) Voluntary termination of operations and liquidation;

c) Compulsory termination of operations and liquidation.

2. The credit cooperative is responsible for:

a) Resolving assets, rights, obligations, and related interests of the branch that ceases operations and dissolves in accordance with the law;

b) Storing documents, records, and files of the branch that ceases operations and dissolves and related documents concerning the termination of operations and dissolution;

c) Implementing legal procedures to terminate operations and dissolve the branch in accordance with the law.

Article 38. Automatic Termination of Operations and Dissolution of Credit Cooperative Branches

1. A credit cooperative branch automatically terminates operations and dissolves if the credit cooperative itself ceases operations and dissolves.

2. Procedures for automatic termination of operations and dissolution of credit cooperative branches shall be carried out in accordance with the law.

Article 39. Voluntary Termination of Operations and Dissolution of Credit Cooperative Branches

1. Documents for voluntary termination of operations and dissolution of branches include:

a) A document of the credit cooperative requesting the termination of operations and dissolution of the branch in the format prescribed in Appendix XII attached to this Circular;

b) A resolution of the Management Board of the credit cooperative regarding the termination of operations and dissolution of the branch;

c) A plan for resolving assets, rights, obligations, and related interests of the branch that ceases operations.

2. Procedure for voluntary termination of operations and dissolution of branches:

a) The credit cooperative prepares one set of documents as prescribed in Clause 1 of this Article and sends it to the State Bank branch where the credit cooperative is headquartered;

b) Within seven working days from the date of receipt of all required documents as stipulated in Clause 1 of this Article, the State Bank branch issues an approval document for the credit cooperative's request in the format prescribed in Appendix XIII attached to this Circular. If not approved, the State Bank branch will send a document to the credit cooperative explaining the reasons.

3. Within thirty working days from the date of receipt of the approval document from the State Bank branch, the credit cooperative must complete the legal procedures to terminate operations and dissolve the branch in accordance with the law and submit a report to the State Bank branch detailing the specific date and results of the termination and dissolution.

Article 40. Compulsory Termination of Operations and Dissolution of Credit Cooperative Branches

1. A credit cooperative branch shall be subject to compulsory termination of operations and dissolution under any of the following circumstances:

a) There is evidence proving that the application documents for establishing the branch contain false information leading to a misassessment of the conditions for establishing the credit cooperative branch;

b) Changing the location of the branch's headquarters without written approval;

c) Operating outside the scope of activities permitted by law.

2. Upon discovering any of the circumstances stipulated in Clause 1 of this Article, the State Bank of Vietnam branch in the region where the credit cooperative is headquartered shall issue a written notice detailing the reasons for requesting the credit cooperative to terminate operations and dissolve the branch.

3. Within ninety days from the date the State Bank of Vietnam branch in the region where the credit cooperative is headquartered issues a written notice to terminate operations and dissolve the branch, the credit cooperative must complete the termination of operations and dissolution of the branch; and submit a written report to the State Bank of Vietnam branch in the region where the credit cooperative is headquartered specifying the specific time and results of the termination of operations and dissolution.

Article 41. Public Announcement of Information on Termination of Operations and Dissolution of Credit Cooperative Branches

Within seven working days from the date of termination of operations and dissolution of the branch (except in cases of automatic termination of operations and dissolution pursuant to Article 38 of this Circular), the credit cooperative must publicly post at the headquarters of the People's Committee of the commune where the credit cooperative is headquartered and at the location of the branch, and announce on the local radio station (if available) where the credit cooperative is headquartered and at the location of the branch regarding the termination of operations and dissolution of the branch. The minimum contents of the public posting and announcement include:

1. The name and address of the branch being terminated and dissolved.

2. Date of termination of operations and dissolution.

3. The responsibilities of the credit cooperative concerning the assets, rights, obligations, and related interests of the branch being terminated and dissolved.

Section 3

ANNOUNCE INFORMATION TO THE BUSINESS REGISTRATION AUTHORITY

Article 42. Credit Cooperatives Provide Information to the State Bank of Vietnam Branch for Notification to Business Registration Authorities

1. Within five working days from the date the credit cooperative decides to change the head of the branch, the credit cooperative must send a written notification to the State Bank of Vietnam branch in the region where the branch is located regarding the change in information about the head.

2. Within five working days from the date of any changes in information related to business registration as prescribed by law other than those specified in Clause 1 of this Article, the credit cooperative must send a written notification to the State Bank of Vietnam branch in the region where the branch is located.

Article 43. Notification of Information to Business Registration Authorities Related to the Operations of Credit Cooperative Branches

1. Within three working days from the date of the confirmation record showing that the credit cooperative has met the requirements as stipulated in Point b, Clause 3, Article 33 of this Circular, the State Bank of Vietnam branch in the region shall be responsible for notifying in writing the information about the head, the name, address, and tax code (if applicable) of the branch along with the document approving the establishment of the branch to the business registration authority according to the Government's regulations on registering cooperatives, cooperatives, and cooperative federations.

2. Within three working days from the date of the confirmation record showing that the credit cooperative has fully met the requirements as stipulated in Point b, Clause 5, Article 35 of this Circular or within five working days from the date of receipt of the document of the credit cooperative as stipulated in Clause 7, Article 35 of this Circular, the State Bank of Vietnam branch in the region shall be responsible for notifying in writing the change in information about the address of the branch along with the document approving the change in the location of the branch headquarters to the business registration authority according to the Government's regulations on registering cooperatives, cooperatives, and cooperative federations.

3. Within five working days from the date of receipt of the document of the credit cooperative as stipulated in Clause 2, Articles 34 and 42 of this Circular, the State Bank of Vietnam branch in the region shall be responsible for notifying in writing the change in information about the head, the name of the branch, and information related to business registration to the business registration authority according to the Government's regulations on registering cooperatives, cooperatives, and cooperative federations.

4. Within five working days from the date of receipt of the document of the credit cooperative as stipulated in Clause 3, Articles 39 and 40 of this Circular, the State Bank of Vietnam branch in the region shall be responsible for notifying in writing along with the report of the credit cooperative to the business registration authority according to the Government's regulations on registering cooperatives, cooperatives, and cooperative federations.

Chapter IV

RESPONSIBILITIES OF AGENCIES, ORGANIZATIONS, AND UNITS

Article 44. Responsibilities of credit organizations that are cooperatives

1. Cooperative banks must develop plans for network development that are appropriate to the operating areas of people's credit funds.

2. Shall be responsible under the law for the completeness and accuracy of the information and documents provided in the dossier.

3. Shall submit a document to the State Bank to publish information as prescribed in point b clause 2 Article 17, point b clause 2 Article 22, point b clause 2 Article 27 of this Circular.

4. Shall be responsible for the organization and operation of branches and transaction offices; report to the State Bank branch Regional where the branch or transaction office is located on handling issues arising from the organization and operation of branches and transaction offices within the area.

5. Regularly manage and supervise the activities of branches and transaction offices.

6. Cooperative banks shall report to the State Bank branch Regional where the branch or transaction office operates within seven working days from the date of signing the decision on the operating area of the branch or transaction office as stipulated in Article 6 of this Circular.

7. Implement other contents as prescribed in this Circular.

Article 45. Responsibilities of the State Bank branch Regional where the credit organization that is a cooperative has its branch, transaction office, representative office, or affiliated unit

1. Shall be responsible to the Governor of the State Bank when performing tasks according to the authority prescribed in this Circular.

2. Accept dossiers, approve or not approve cases within the authority of the Director of the State Bank branch Regional as prescribed in clause 3 Article 4 of this Circular.

3. Manage, inspect, audit, and supervise the activities of branches, transaction offices, representative offices, and affiliated units of credit organizations that are cooperatives within the area according to the authority and as prescribed by law, including inspections and audits according to plans or when it is deemed necessary to meet requirements for opening operations, changing locations of branches and transaction offices after credit organizations that are cooperatives have opened operations or changed the location of their branch or transaction office headquarters.

4. Within three working days from the date the State Bank branch Regional has a record confirming that the cooperative bank has met the conditions as prescribed in clause 4 Article 15, clause 7 Article 19 of this Circular or has a document approving as prescribed in clause 2 Article 25 of this Circular or from the date of receiving notifications or reports from the cooperative bank as prescribed in this Circular, the State Bank branch Regional shall send a document to the State Bank informing about the following contents:

a) The opening of operations of branches, transaction offices, representative offices, and affiliated units;

b) Changes in name and location of branch, transaction office, representative office, and affiliated unit headquarters;

c) Voluntary cessation of operations and dissolution of branches, transaction offices, representative offices, and affiliated units.

5. Accept the Charter on network management of credit organizations that are cooperatives, reports from cooperative banks as prescribed in clause 4 Article 9, clause 6 Article 44 of this Circular.

6. Implement other contents as prescribed in this Circular.

Article 46. Responsibilities of units under the State Bank

1. Responsibilities of the Credit Institution Management and Supervision Department:

a) The focal point for receiving, examining, and submitting to the Governor of the State Bank for approval or disapproval in accordance with Article 14 and Article 26 of this Circular for cases within the authority of the Governor of the State Bank as stipulated in Clause 1 and Clause 4, Article 4 of this Circular;

b) Receiving applications, approving or disapproving in accordance with Article 14 and Article 26 of this Circular for cases within the authority of the Director of the Credit Institution Management and Supervision Department as stipulated in Clause 2, Article 4 of this Circular;

c) The focal point for examining and submitting to the Governor of the State Bank for handling issues arising related to the establishment, cessation of operations, dissolution of branches, transaction offices, representative offices, and affiliated units of credit cooperatives;

d) Providing the approval document for establishing branches, transaction offices, and representative offices as stipulated in Article 14 of this Circular to the State Bank branch in the region where the cooperative bank plans to establish its branch, transaction office, or representative office within two working days from the date of issuance of the approval document for the purpose of notifying the business registration agency;

đ) Receiving reports from the State Bank branch in the region as stipulated in Clause 4, Article 45 of this Circular;

e) Receiving the Regulation on network management of cooperative banks as stipulated in Clause 4, Article 9 of this Circular and sending it to the State Bank branch in the region where the cooperative bank's branch is located within five working days from the date of receipt of the Regulation on network management of cooperative banks;

g) Being responsible before the Governor of the State Bank when performing tasks according to their authority and implementing other contents as prescribed in this Circular.

2. Responsibilities of the unit managing the Electronic Information Portal:

Within three working days from the date of receipt of the request document from the cooperative bank, publish information on the Electronic Information Portal of the State Bank regarding the network operation information of the cooperative bank as stipulated in Point b, Clause 2, Article 17, Point b, Clause 2, Article 22, and Point b, Clause 2, Article 27 of this Circular.

Chapter V

IMPLEMENTING PROVISIONS

Article 47. Transitional Provisions

1. Cooperative banks are permitted to maintain the current number of branches and transaction offices without having to adjust in accordance with this Circular. In case of establishing new network units, they must comply with the provisions of this Circular.

2. Cooperative banks must complete the reorganization of the operating area of branches to ensure that they only operate in provinces and cities adjacent to the province or city where the branch headquarters is located and do not overlap provincial or municipal areas as stipulated in Point a, Clause 1, Article 6 of this Circular within a maximum period of six months from the date this Circular takes effect.

3. Loan contracts and credit agreements signed between customers and branches of cooperative banks whose operating areas do not comply with the provisions of Point a, Clause 1, and Point a, Clause 2, Article 15 and Point a, Clause 1, Article 33 of this Circular prior to the effective date of this Circular shall continue to be implemented according to the signed loan contracts and credit agreements until the end of their terms.

4. Branches and transaction offices of credit cooperatives that have not met the requirements regarding the prohibition of the General Manager concurrently holding other positions or performing other duties as stipulated in Point d, Clause 1, Point d, Clause 2, Article 15 and Point d, Clause 1, Article 33 of this Circular must complete the reorganization and staffing to ensure compliance within a maximum period of six months from the date this Circular takes effect.

5. Within two months from the date this Circular takes effect, people's credit funds must cease the operations of service introduction points. The cessation of operations of service introduction points of people's credit funds must be publicly announced at the main office of the people's credit fund, and notified on the village radio station (if any) where the main office of the people's credit fund is located and where the service introduction point is located.

6. In cases where cooperative banks have submitted requests for approval to establish branches, transaction offices, representative offices, and affiliated units to the State Bank before the effective date of this Circular, the processing will continue to be carried out in accordance with Circular No. 09/2018/TT-NHNN of the Governor of the State Bank of Vietnam on the network operations of credit cooperatives (amended and supplemented). The inauguration of operations of branches, transaction offices, representative offices, and affiliated units of cooperative banks in such cases shall be conducted in accordance with this Circular.

7. In cases where cooperative banks have been approved by the State Bank to establish branches, transaction offices, representative offices, and affiliated units before the effective date of this Circular and the approval document of the State Bank remains valid according to Circular No. 09/2018/TT-NHNN of the Governor of the State Bank of Vietnam on the network operations of credit cooperatives (amended and supplemented), but have not yet inaugurated operations, they do not need to submit another request for approval to the State Bank. The inauguration of operations of branches, transaction offices, representative offices, and affiliated units of cooperative banks in such cases shall be conducted in accordance with this Circular.

Article 48. Responsibility for Implementation

The heads of units under the State Bank, cooperative banks, and people's credit funds shall be responsible for organizing the implementation of this Circular.

Article 49. Effective Date

1. This Circular takes effect from February 9, 2026.

2. From the date this Circular takes effect, the following documents and regulations cease to be effective:

a) Circular No. 09/2018/TT-NHNN of the Governor of the State Bank of Vietnam on the network operation of credit organizations that are cooperatives;

b) Clause 4 of Circular No. 27/2022/TT-NHNN of the Governor of the State Bank of Vietnam amending and supplementing certain articles of Circulars stipulating the delegation of administrative procedures in the field of establishment and operation of banks./.