The State Bank of Vietnam issued Circular No. 06/2022/TT-NHNN on June 30, 2022, to amend several articles of Circular No. 50/2018/TT-NHNN dated December 31, 2018, regulating dossiers, orders, and procedures for approving some changes of commercial banks and foreign bank branches.
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Regarding the change of location of the commercial bank's head office, in addition to implementing regulations on dossiers and procedures for approval and modification of licenses, Circular 06/2022/TT-NHNN has added the step inspect and appraising the proposed head office location.
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The inspection and supervision agency shall, within 03 working days from the date of receipting a written request for modification of the location of its head office, ask the State Bank branch in where the province or city to be located to check the fulfillment of conditions.
The State Bank's branch in the province or city where it is expected to locate its head office shall, within 07 working days from the date of receipting the written request from the Inspection and Supervision Agency, have to check the satisfaction of the conditions and give written opinions to the Banking Inspection and Supervision Agency.
The written request for modification of the location of the head office of the commercial bank, and the foreign bank's branch in the License submitted before August 15, 2022, shall be further considered and handled according to regulations at the time of filing.
Circular 06/2022/TT-NHNN stipulating documents, orders, and procedures for approving changes of commercial banks and foreign bank branches issued by the Governor of the State Bank of Vietnam on June 30, 2022, will officially take effect from August 15, 2022.
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