Circular 12/2025/TT-NHNN amend procedures for first-time grant of licenses for commercial banks, foreign bank branches, representative offices, and non-bank credit institutions

CIRCULAR

Amending and supplementing a number of articles of the Circulars prescribing dossiers and procedures for the first-time grant of licenses for commercial banks, foreign bank branches, foreign representative offices, and non-bank credit institutions

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12, which was amended and supplemented under the Law No. 14/2022/QH15;

Pursuant to the Law on Credit Institutions No. 32/2024/QH15, which was amended and supplemented under the Law No. 43/2024/QH15;

Pursuant to the Government’s Decree No. 26/2025/ND-CP dated February 24, 2025, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

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

The Governor of the State Bank of Vietnam promulgates the Circular amending and supplementing a number of articles of the Circulars prescribing dossiers and procedures for the first-time grant of licenses for commercial banks, foreign bank branches, foreign representative offices, and non-bank credit institutions.

Article 1. Amending and supplementing a number of articles of the Governor of the State Bank of Vietnam’s Circular No. 56/2024/TT-NHNN dated December 24, 2024, prescribing dossiers and procedures for the first-time grant of licenses for commercial banks, foreign bank branches, and foreign representative offices

1. To add Clause 6 and Clause 7 after Clause 5, Article 10 as follows:

“6. If a dossier is submitted online through the National Public Service Portal or the State Bank’s Public Service Portal (if any), the electronic dossier to be submitted may bear a digital signature in accordance with law on the implementation of administrative procedures in electronic environment.

If the National Public Service Portal or the State Bank’s Public Service Portal fails or encounters a problem, and is therefore unable to receive and exchange electronic information, declaration, sending, receipt, return of results, exchange and response to information shall be carried out by post or directly at the Single-Window Section of the State Bank.

7. Documents included in the electronic dossier are scanned copies of original or physical original documents (in PDF format).”

2. To add phrases at a number of points, clauses and articles as follows:

a) To add the phrase “or submitted online through the National Public Service Portal or the State Bank’s Public Service Portal (if any)” after the phrase “submitted directly at the State Bank (the Single-Window Section)” at Point a and Point c, Clause 1, Article 7;

b) To add the phrase “or submitted online through the National Public Service Portal or the State Bank’s Public Service Portal (if any)” after the phrase “submitted directly at the State Bank’s branches at Point a, Clause 2, Article 7;

c) To add the phrase “The person proposed for election or appointment shall present an electronic judicial record card issued through the VNeID electronic identification and authentication application or submit an electronic judicial record card issued in accordance with law regulations (which contains full information regarding the criminal record status; information regarding the prohibition from holding certain positions, establishing and managing enterprises and cooperatives);” after Point b(iii), Clause 4, Article 11;

d) To add the phrase “Founding shareholder shall present an electronic judicial record card issued through the VNeID electronic identification and authentication application or submit an electronic judicial record card issued in accordance with law (which contains full information regarding the criminal record status; information regarding the prohibition from holding certain positions, establishing and managing enterprises and cooperatives);” after the phrase “information regarding the prohibition from establishing enterprises and cooperatives;” at Point a(iii), Clause 3, Article 12;

dd) To add the phrase “Founding shareholder shall present an electronic judicial record card issued through the VNeID electronic identification and authentication application or submit an electronic judicial record card issued in accordance with law (which contains full information regarding the criminal record status; information regarding the prohibition from holding certain positions, establishing and managing enterprises and cooperatives);” after the phrase “information regarding the criminal record status;” at Point b(vii), Clause 3, Article 12.

3. To replace the phrase “the State Bank’s branches” with the phrase “the State Bank’s branches in the regions (hereinafter referred to as the State Bank’s branches)” in Clause 2, Article 5.

Article 2. Amending and supplementing a number of articles of the Governor of the State Bank of Vietnam’s Circular No. 57/2024/TT-NHNN date December 24, 2024, prescribing dossiers and procedures for the first-time grant of licenses for non-bank credit institutions

1. To add Clause 6 and Clause 7 after Clause 5, Article 10 as follows:

“6. If a dossier is submitted online through the National Public Service Portal or the State Bank’s Public Service Portal (if any), the electronic dossier to be submitted may bear a digital signature in accordance with law on the implementation of administrative procedures in electronic environment.

If the National Public Service Portal or the State Bank’s Public Service Portal fails or encounters a problem, and is therefore unable to receive and exchange electronic information, declaration, sending, receipt, return of results, exchange and response to information shall be carried out by post or directly at the Single-Window Section of the State Bank.

7. Documents included in the electronic dossier are scanned copies of original or physical original documents (in PDF format).”

2. To add phrases at a number of points, clauses and articles as follows:

a) To add the phrase “or submitted online through the National Public Service Portal or the State Bank’s Public Service Portal (if any)” after the phrase “submitted directly at the State Bank (the Single-Window Section)” in Clause 1 and Clause 3, Article 7;

b) To add the phrase “The person proposed for election or appointment shall present an electronic judicial record card issued through the VNeID electronic identification and authentication application or submit an electronic judicial record card issued in accordance with law (which contains full information regarding the criminal record status; information regarding the prohibition from holding certain positions, establishing and managing enterprises and cooperatives);” after Point b(iii), Clause 5, Article 11;

c) To add the phrase “Founding shareholder shall present an electronic judicial record card issued through the VNeID electronic identification and authentication application or submit an electronic judicial record card issued in accordance with law (which contains full information regarding the criminal record status; information regarding the prohibition from holding certain positions, establishing and managing enterprises and cooperatives);” after the phrase “information regarding the prohibition from establishing enterprises and cooperatives;” at Point a(iii), Clause 3, Article 12;

d) To add the phrase “Founding shareholder shall present an electronic judicial record card issued through the VNeID electronic identification and authentication application or submit an electronic judicial record card issued in accordance with law (which contains full information regarding the criminal record status; information regarding the prohibition from holding certain positions, establishing and managing enterprises and cooperatives);” after the phrase “information regarding the criminal record status;” at Point b(vi), Clause 3, Article 12;

dd) To add the phrase “The at-law representative, the person appointed to represent the Vietnamese commercial bank’s capital contribution in the non-bank institution shall present an electronic judicial record card issued through the VNeID electronic identification and authentication application or submit an electronic judicial record card issued in accordance with law (which contains full information regarding the criminal record status; information regarding the prohibition from holding certain positions, establishing and managing enterprises and cooperatives).” after Point c, Clause 6, Article 13;

e) To add the phrase “The person appointed to represent the organization’s capital contribution in the non-bank credit institution shall present an electronic judicial record card issued through the VNeID electronic identification and authentication application or submit an electronic judicial record card issued in accordance with law (which contains full information regarding the criminal record status; information regarding the prohibition from holding certain positions, establishing and managing enterprises and cooperatives);” after Point a(ii), Clause 7, Article 13.

3. To replace the phrase “The State Bank’s branch where the non-bank credit institution applies for establishment and intends to locate its head office” with the phrase “The State Bank’s branch in the region where the non-bank credit institution applies for establishment and intends to locate its head office” in Clause 1, Article 14.

Article 3. Responsibility for implementation organization

Heads of units under the State Bank of Vietnam, commercial banks, foreign bank branches, foreign representative offices, non-bank credit institutions and related organizations and individuals shall be responsible for organizing the implementation of this Circular.

Article 4. Implementation provisions

This Circular takes effect on August 14, 2025./.