Official Dispatch No. 3861/NHNN-TTGSNH dated May 17, 2011 of the State Bank of Vietnam on the opening of transaction offices and ATMs in 2011

To: - State Bank s branches in provinces, cities;

- Credit Institutions;

- Foreign bank’s branches;

Upon the proposal of Credit Institutions, State bank’s branches in provinces and cities under the central Government s management and Vietnam Banks Association on the opening of transaction offices, automatic teller machines (ATMs) in 2011 by Credit Institutions (CIs) and foreign bank’s branches, the Governor of State Bank of Vietnam (SBV) hereby provides some opinions as follows:

1 – For the opening of a transaction office

a) In the event that CIs send their application profiles to the SBV’s branches in provinces and cities prior to 25 February 2011: the relevant SBV’s branches in provinces and cities shall consider, deal with the proposal of CIs as follows:

(i) For commercial banks: To implement in accordance with the provisions of Decision No. 13/2008/QD-NHNN dated 29/4/2008 on the issuance of the Regulation on operation network of commercial banks (Decision 13) and the Official Dispatch No. 918/NHNN-TTGSNH dated 2/2/2010 on the development of commercial banks network in 2010.

(ii) For non – banking credit institutions: To implement accordance with the provisions of the Decision No. 01/2008/QD-NHNN dated 9/1/2008 of the Governor of the SBV on the opening and termination of operation of a representative office of non-banking credit institutions.

(iii) For small-sized financial institutions: To implement in accordance with the provisions of the Circular No. 08/2009/TT-NHNN dated 28/4/2009 of the Governor of SBV guiding the operation network of small-sized financial institutions.

(iv) For central People s credit fund: To implement in accordance with the provisions of the Decision No. 24/2006/QD-NHNN of the Governor of the SBV dated 6/6/2006 on issuing the Regulation on the issuance and revocation of establishment and operation license of a central People s credit fund; opening and terminating operation of a transaction department, branch, representative office and transaction office, point of transaction of central People s credit fund, liquidation of a central People s credit fund under the supervision of the SBV and the Decision No. 26/2008/QD-NHNN dated 9/9/2008 of the Governor of SBV on the amendment and supplement of a several articles of the Regulation on issuance and revocation of establishment and operation license of central People s credit fund; opening and terminating operation of a transaction department, branch, representative office and transaction office, point of transaction of central People s credit fund, liquidation of a central People s credit fund under the supervision of the SBV.

b) In the event where CIs send their application profiles to SBV’s branches in provinces and cities from 25 February 2011: proposals of CIs on the opening of a transaction office are now temporarily suspended for review in line with the direction of the Governor of SBV at the Official Dispatch No. 1511/NHNN-TTGSNH dated 25/2/2011 and Official Dispatch No. 2028/NHNN-TTGSNH dated 11/3/2011 on the network development in 2011.

2- For the opening of ATM: Commercial banks and foreign bank’s branches are authorized to open an ATM. The process, procedure, application profiles for opening an ATM shall be implemented in line with the provisions of the Decision 13.

The Governor of the State bank of Viet Nam would like to notify all units for information and implementation.