Decision No. 67/QD-NH5 On the minimum charter capital for credit institutions established from 1996

Pursuant to …;

OF THE HEAD OF THE STATE BANK

On the minimum charter capital for credit organizations established from 1996Pursuant to the State Bank of Vietnam Ordinance, the Banking Ordinance, the Credit Cooperative Ordinance, and the Financial Company Ordinance dated May 24, 1990;

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Government Organization Law dated September 30, 1992;

Pursuant to the Government Decree No. 39/CP dated June 27, 1995 on the model charter for the organization and operation of State-owned Joint Stock Companies;

Pursuant to the Government Decree No. 15/CP dated March 2, 1993 on the tasks, powers, and responsibilities for state management of Ministries and agencies at the ministerial level;

The following regulations on the minimum charter capital for credit organizations established from 1996 are hereby stipulated:

At the proposal of the Director of the Department of Financial Institutions,

DECISION:

Article 1. 1. Commercial Joint Stock Banks:

1.1. Urban areas:

In Ho Chi Minh City: 150 billion VND

In Hanoi: 100 billion VND

In other provinces and cities: 50 billion VND

1.2. Rural areas:

With Branches: 10 billion VND

Without Branches: 3 billion VND

2. Financial Companies:

2.1. Joint Stock: 50 billion VND

2.2. Within State-owned Joint Stock Companies: 30 billion VND

To be granted a business license by the State Bank, shareholders participating in the establishment of joint stock credit organizations must deposit at least 50% of the registered capital into a frozen account opened at a State Bank branch. At least 30 days before commencing operations, the joint stock credit organization must deposit the full 100% of its charter capital so that the State Bank branch can verify, reconcile, and confirm the actual contributions of each shareholder according to the list of shareholders in the registration dossier, and approve the relevant credit organization to commence operations.

Article 2. For joint stock credit organizations that have been granted a business license based on the previously stipulated charter capital levels, the State Bank will provide separate guidance on handling.

Article 3. This Decision takes effect from the date of signature.

Article 4. The Heads of the Office, Department Heads of the Financial Institutions Department, responsible heads of units related to the Central State Bank, and Directors of State Bank branches in provinces and cities are responsible for implementing this Decision.

Article 5. The Head of the Office, the Director of the Department of Financial Institutions, the Heads of relevant units under the State Bank of Vietnam, and the Directors of the State Bank's Branches in provinces and cities are responsible for implementing this Decision.