Circular 24/2025/TT-NHNN amend Circular 63/2024/TT-NHNN on license revocation and asset liquidation procedures of credit institutions

CIRCULAR

Amending and supplementing a number of articles of Circular No. 63/2024/TT-NHNN specifying dossiers and procedures for revocation of licenses and liquidation of assets of credit institutions and foreign bank branches; and dossiers and procedures for revocation of licenses of Vietnam-based representative offices of foreign credit institutions and other foreign organizations engaged in banking activities

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12;

Pursuant to the Law on Credit Institutions No. 32/2024/QH15;

Pursuant to the Government’s Decree No. 26/2025/ND-CP defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the Department of Banking System Safety;

The Governor of the State Bank of Vietnam hereby promulgates the Circular amending and supplementing a number of articles of Circular No. 63/2024/TT-NHNN specifying dossiers and procedures for revocation of licenses and liquidation of assets of credit institutions and foreign bank branches; and dossiers and procedures for revocation of licenses of Vietnam-based representative offices of foreign credit institutions and other foreign organizations engaged in banking activities.

Article 1. Amending and supplementing a number of clauses of Article 3

1. To amend and supplement Clause 3 as follows:

“3. The State Bank branch means the State Bank’s branch in a region where a credit institution is headquartered or where a foreign bank branch or foreign representative office is located.”.

2. To amend and supplement Clause 5 as follows:

“5. Management and Supervision Unit is the Credit Institutions Supervision Department under the State Bank.”.

Article 2. Amending and supplementing a number of clauses of Article 6

To add Clauses 6 and 7 as follows:

“6. In case of online submission through the National Public Service Portal or the State Bank’s Pubic Service Portal (if any), e-dossiers shall be digitally signed in accordance with the law on carrying out administrative procedures on electronic environment.

In case where the National Public Service Portal or the State Bank’s Pubic Service Portal fails to receive or exchange electronic information due to an incident or error, the declaration, submission, receipt, result return, exchange and feedback of information shall be conducted by postal service or conducted directly at the single-window division of the State Bank or Regional State Bank branch.”.

7. Documents in the e-dossier must be electronic versions scanned from the originals (in PDF format).”.

Article 3. Amending and supplementing Article 16

To amend and supplement Clause 3 as follows:

“3. Within 28 days after receiving the request from the liquidation council or the liquidation supervision group as specified in Clause 2 of this Article, the State Bank shall issue a document on approval or disapproval of the request.”.

Article 4. Amending and supplementing Article 22

To amend and supplement Point a Clause 1 as follows:

“a) The foreign representative office shall prepare one set of dossier and submit it online via the National Public Service Portal or the State Bank’s Pubic Service Portal (if any), or hand-deliver it at the single-window division or send it by post to the Regional State Bank branch. The dossier must comprise:

(i) A written request for operation termination, clearly stating the reason for requesting for termination of the operation and revocation of the license of the foreign representative office, retention of dossiers and documents after the license is revoked, and responsibilities of organizations and individuals related to the process of operation termination and license revocation;

(ii) The competent authority’s document approving termination of the operation of the foreign representative office;”.

Article 5. Implementation responsibility

Heads of units of the State Bank of Vietnam, credit institutions and foreign bank branches, Vietnam-based representative offices of foreign credit institutions and other foreign institutions engaged in banking activities shall implement this Circular.

Article 6. Effect

This Circular takes effect from October 15, 2025./.