Circular 01/2022/TT-NHNN amending Circular 21/2013/TT-NHNN providing for the operational network of commercial banks

CIRCULAR

Amending and supplementing a number of articles of the Circular No. 21/2013/TT-NHNN dated September 9, 2013 of the Governor of the State Bank of Vietnam, providing for the operational network of commercial banks

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Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010 and the Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions dated November 20, 2017 (hereinafter referred to as the Law on Credit Institutions);

Pursuant to Law on Enterprises dated June 17, 2020;

Pursuant to the Government's Decree No. 16/2017/ND-CP dated February 17, 2017, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

At the proposal of the Chief of the Banking Supervision Agency;

The Governor of the State Bank of Vietnam hereby promulgates the Circular on amending and supplementing a number of articles of the Circular No. 21/2013/TT-NHNN dated September 9, 2013 of the Governor of the State Bank of Vietnam, providing for the operational network of commercial banks.

Article 1. To amend and supplement a number of articles of the Circular No. 21/2013/TT-NHNN

1. To amend and supplement Clause 12 Article 3 as follows:

“12. Ho Chi Minh City inner area covers the cities and districts of Ho Chi Minh City.”

2. To amend and supplement Article 4 as follows:

“Article 4. Competence to approve the network of commercial banks

1. The Governor of the State Bank of Vietnam shall consider approving or disapproving commercial banks’ establishment, termination of operation or dissolution of domestic branches, transaction offices, representative offices, non-business units; and establishment of overseas branches, representative offices and banks with 100% capital.

2. The Directors of provincial-level State Bank branches shall consider approving or disapproving:

a) Change of locations of head offices of domestic branches and transaction offices in the localities (including change of locations before the opening of operation);

b) Termination of operation of branches, transaction offices in the localities (in case of voluntary operation termination);

c) Change of branches managing transaction offices in the localities.

3. In some specific cases, the Governor of the State Bank shall consider and request the establishment of domestic branches, representative offices, non-business units and transaction offices; and overseas branches, representative offices and banks with 100% capital of commercial banks based on the orders and procedures prescribed in this Circular and in conformity with actual conditions: