Circular 08/2025/TT-NHNN amend Circular 43/2015/TT-NHNN, Circular 29/2024/TT-NHNN and Circular 32/2024/TT-NHNN on operational network of commercial banks

CIRCULAR

Amending and supplementing a number of articles of Circular No. 43/2015/TT-NHNN dated December 31, 2015, of the Governor of the State Bank of Vietnam, on the organization and operation of post transaction offices under Lien Viet Post Joint Stock Commercial Bank; Circular No. 29/2024/TT-NHNN dated June 28, 2024, of the Governor of the State Bank of Vietnam, on people's credit funds, and Circular No. 32/2024/TT-NHNN dated June 30, 2024, of the Governor of the State Bank of Vietnam, providing for the operational network of commercial banks

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

Pursuant to the Law on Credit Institutions dated January 18, 2024;

Pursuant to the Law on Cooperatives dated June 20, 2023;

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 the Director of the Department of Credit Institution System Safety;

The Governor of the State Bank of Vietnam hereby promulgates the Circular amending and supplementing a number of articles of Circular No. 43/2015/TT-NHNN dated December 31, 2015, of the Governor of the State Bank of Vietnam, on the organization and operation of post transaction offices under Lien Viet Post Joint Stock Commercial Bank; Circular No. 29/2024/TT-NHNN dated June 28, 2024, of the Governor of the State Bank of Vietnam, on people's credit funds, and Circular No. 32/2024/TT-NHNN dated June 30, 2024, of the Governor of the State Bank of Vietnam, providing for the operational network of commercial banks.

Article 1. Amending and supplementing a number of articles of the Circular No. 43/2015/TT-NHNN dated December 31, 2015, of the Governor of the State Bank of Vietnam, on the organization and operation of post transaction offices under Lien Viet Post Joint Stock Commercial Bank, amended and supplemented in 2022 and 2023

1. To amend and supplement a number of articles of Circular No. 43/2015/TT-NHNN

a) To amend and supplement Article 1 as follows:

“Article 1. Scope of regulation

This Circular regulates the organization and operation of post transaction offices under Fortune Vietnam Joint Stock Commercial Bank (hereinafter referred to as LPBank).”;

b) To amend and supplement Clause 7, Article 3 as follows:

“7. State Bank branch means a regional branch of the State Bank.”;

c) To amend and supplement Article 4 as follows:

“Article 4. Competence of the Director of the State Bank branch

The Director of the State Bank branch where the post transaction office is located may:

1. Approve or disapprove the termination of operation of post transaction office in the locality.

2. Confirm the satisfaction of operational conditions at the new location for post transaction office relocated within the locality.

3. Mandate the termination of operation of post transaction office in the locality.”;

d) To amend and supplement Clause 3, Article 6 as follows:

“3. The dossier of LPBank shall be submitted to the State Bank branch where the post transaction office is located by one of the following methods:

a) Online submission through the National Public Service Portal or the State Bank of Vietnam’s Pubic Service Portal (if any);

b) Direct submission at the Single-window section of the State Bank branch;

c) Sending by post.”;

dd) To add Clauses 5 and 5, Article 6 as follows:

“4. In case of online submission through the National Public Service Portal or the State Bank of Vietnam’s Pubic Service Portal, 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 of Vietnam’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 section of the State Bank branch.

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

e) To amend and supplement Clause 5, Article 8 as follows:

“5. In case the post transaction office does not have a cash vault in accordance with the regulations of the State Bank of Vietnam:

a) Where LPBank has a cash vault meeting current regulatory standard within the same commune-level administrative unit or an adjacent commune-level administrative unit where the post transaction office is located, LPBank shall be responsible for transporting cash from post transaction offices without a cash vault as prescribed to the vault that meets regulatory standards after the close of business hours on each working day;

b) Where LPBank fails to have a cash vault meeting current regulatory standards within the same commune-level administrative unit and an adjacent commune-level administrative unit where the post transaction office is located, LPBank shall be responsible for transporting cash from post transaction offices without a cash vault, after deducting the end-of-day cash-on-hand limit, to the vault that meets regulatory standards after the close of business hours on each working day. LPBank shall be responsible for establishing regulations on end-of-day cash-on-hand limits and implementing measures to ensure the security of end-of-day cash holdings at post transaction offices, and shall report to the State Bank branch where the post transaction office is located for supervisory purposes.”.

2. To replace and repeal a number of phrases of Circular No. 43/2015/TT-NHNN

a) To replace the phrase “the State Bank (via the Banking Supervision Agency, the State Bank branch where the post transaction office is located)” with the phrase “the State Bank branch where the post transaction office is located” in Clauses 2 and 4, Article 17;

b) To replace the phrase “divest down to” with the phrase “hold” in Clause 3, Article 7; Clause 6 and Point 7c, Article 17; and Appendix No. 03;

c) To replace the phrase “the Banking Supervision Agency” with the phrase “the Credit Institutions Supervision Department” in the title of Article 18; Clause 2, Article 19; Point 4 of Appendix No. 01, and Point 4 of Appendix No. 02;

d) To replace the phrase “Information Technology Department (Cục Công nghệ tin học)” with the phrase “Department of Information Technology (Cục Công nghệ thông tin)” at Point 3 of Appendix No. 01 and Point 3 of Appendix No. 02;

dd) To replace the phrase “Lien Viet Post Joint Stock Commercial Bank” with the phrase “LPBank” in Article 2; Clauses 1, 2, 3, 4, 5 of Article 3; Article 5; Clauses 1 and 2 of Article 6; Clause 1, Point e of Clause 2, Clause 3, and Point b, Clause 4 of Article 7; Points a and b, Clause 1, Clause 3 of Article 8; Article 10; Article 11; Clause 2 of Article 12; Clause 1 of Article 13; Points a and b, Clause 1, Point a, Clause 2, and Clause 3 of Article 14; Point b, Clause 1, Clauses 2, 3, and 4 of Article 15; Article 16; the title of Article 17; Clauses 2, 6, 7b, 7c, 7e, 7g, and 7h of Article 17; Clause 3 of Article 18; the title of Article 19; Clause 3 of Article 19; Article 20; Article 22; Appendix No. 01; Appendix No. 02; and Appendix No. 03;

e) To replace the phrase “Lien Viet Post Joint Stock Commercial Bank” with the phrase “Fortune Vietnam Joint Stock Commercial Bank” in the title of the Circular;

g) To remove the phrases “Chief of Office, Chief of Banking Supervision,”; “provinces and centrally-run cities”; and “Chairperson of the Board of Directors, General Director (Director)” in Article 22.

Article 2. Amending and supplementing a number of articles of Circular No. 29/2024/TT-NHNN dated June 28, 2024, of the Governor of the State Bank of Vietnam, on people's credit funds

1. To amend and supplement a number of articles of Circular No. 29/2024/TT-NHNN

1. To amend and supplement Clauses 5, 6 and 7 Article 32 as follows:

“5. From July 1, 2024, any people’s credit fund operating on an inter-commune basis within a province or centrally-run city whose inter-commune coverage includes adjacent communes to the commune where its head office is located, but which fails to meet one of the conditions for inter-commune operation as prescribed at Points a, b, c, and d, Clause 1 of this Article, must develop a remedial plan to ensure full compliance with such conditions. The development of the remedial plan must meet the following requirements:

a) Within 60 days from July 1, 2024, or from the date of determination of non-compliance with the conditions for inter-commune operation, the people’s credit fund must submit the remedial plan to the State Bank branch, which must include at least the following contents:

(i) Current status of inter-commune operation;

(ii) Level of compliance with each condition for inter-commune operation as prescribed in Clause 1 of this Article;

(iii) Plan and remedial measures for each quarter and a commitment to fully comply with the conditions for inter-commune operation within a maximum period of 12 months from July 1, 2024 (for cases of non-compliance before July 1, 2024), or from the date of determination of non-compliance, in accordance with Clause 1 of this Article;

b) Within20 days from the date of receipt of the remedial plan submitted by the people’s credit fund under Point a of this Clause, the State Bank branch shall issue a written request for amendment or supplementation if the plan does not meet the required standards. In case the State Bank branch requests an amendment or supplementation to the remedial plan, within a maximum of 30 days from the date of such written request, the people’s credit fund must complete and submit the revised remedial plan to the State Bank branch. Within 20 days from the date of receipt of the remedial plan (including the case of amendment and supplementation), the State Bank branch shall issue a written approval of the people’s credit fund’s remedial plan.

On a quarterly basis, before the 10^th day of the first month of the subsequent quarter, the people’s credit fund must submit a written report on the progress of the implementation of the remedial plan as approved by the State Bank branch, either directly or via postal service, to the State Bank branch.

6. Upon the expiration of the maximum remedial period as prescribed at Point a(iii), Clause 5 of this Article, if the people’s credit fund still fails to meet one of the conditions for inter-commune operation covering adjacent communes to the commune where its head office is located within the same province or centrally-run city, as stipulated at Points a, b, c, and d, Clause 1 of this Article, it must develop a remedial plan to terminate its operation in such adjacent communes in accordance with the following provisions:

a) Within 60 days from the end of the maximum remedial period specified at Point a(iii), Clause 5 of this Article, the people’s credit fund must submit to the State Bank branch a remedial plan, which must include at least the following contents:

(i) Current status of inter-commune operation;

(ii) Level of compliance with each condition for inter-commune operation as prescribed in Clause 1 of this Article;

(iii) A plan and remedial measures for each quarter and a commitment to, within a maximum of 24 months from the conclusion of the remedial plan mentioned at Point a(iii), Clause 5 of this Article, terminate operations in the adjacent commune(s) and adjust its operation to the commune where its head office is located;

b) Within20 days from the date of receipt of the remedial plan submitted by the people’s credit fund under Point a of this Clause, the State Bank branch shall issue a written request for amendment or supplementation if the plan does not meet the required standards. In case the State Bank branch requests an amendment or supplementation to the remedial plan, within a maximum of 30 days from the date of such written request, the people’s credit fund must complete and submit the revised remedial plan to the State Bank branch. Within 20 days from the date of receipt of the remedial plan (including the case of amendment and supplementation), the State Bank branch shall issue a written approval of the people’s credit fund’s remedial plan.

On a quarterly basis, before the 10^th day of the first month of the subsequent quarter, the people’s credit fund must submit a written report on the progress of the implementation of the remedial plan as approved by the State Bank branch, either directly or via postal service, to the State Bank branch;

c) During the implementation of the remedial plan, the people’s credit fund shall not admit new members or grant new loans in the commune where it is required to terminate its operation.

7. From July 1, 2024, people’s credit fund that operates in communes not adjacent to the commune where its head office is located, or that operates across adjacent communes beyond the boundaries of a single province or centrally-run city due to administrative boundary division or separation, must develop a remedial plan to terminate operations in such non-adjacent communes or communes beyond the boundaries of a single province or centrally-run city in accordance with the following provisions:

a) Within a maximum of 60 days from the effective date of the administrative boundary adjustment document issued by a competent state agency, or 60 days from the date on which all state capital is divested from the people’s credit fund, the people’s credit fund must submit a remedial plan to the State Bank branch, which must include at least the following contents:

(i) The current status of the inter-commune operational area of the people’s credit fund;

(ii) A quarterly plan and remedial measures, including reorganization in the form of division or separation in accordance with the law, and a commitment to ensure that, within a maximum of 36 months from the effective date of the administrative boundary adjustment document issued by the competent state agency or from the date of state capital divestment from the people’s credit fund having its operations terminated in non-adjacent communes or communes beyond the boundaries of a single province or centrally-run city;

b) Within20 days from the date of receipt of the remedial plan submitted by the people’s credit fund under Point a of this Clause, the State Bank branch shall issue a written request for amendment or supplementation if the plan does not meet the required standards. In case the State Bank branch requests an amendment or supplementation to the remedial plan, within a maximum of 30 days from the date of such written request, the people’s credit fund must complete and submit the revised remedial plan to the State Bank branch. Within 20 days from the date of receipt of the remedial plan (including the case of amendment and supplementation), the State Bank branch shall issue a written approval of the people’s credit fund’s remedial plan.

On a quarterly basis, before the 10^th day of the first month of the subsequent quarter, the people’s credit fund must submit a written report on the progress of the implementation of the remedial plan as approved by the State Bank branch, either directly or via postal service, to the State Bank branch;

c) During the implementation of the remedial plan, the people’s credit fund shall not admit new members or grant new loans in the commune where it is required to terminate its operation.

8. Within 05 working days from the date of completion of the remedial plan as approved under Clause 6 and Clause 7 of this Article, the people’s credit fund shall submit a written report on the completion of the remedial plan and request for amendment or supplementation of its License with respect to the operational area, to the State Bank branch.

Within 15 days from the date of receipt of the request from the people’s credit fund, the State Bank branch shall issue a Decision amending or supplementing the License regarding the operational area of the people’s credit fund.”

b) To add Clause 10, Article 32 as follows:

“10. The submission of the remedial plan as provided in Clauses 5, 6, and 7 of this Article; the submission of the written report on completion of the remedial plan and request for amendment or supplementation of the License regarding the operational area as provided in Clause 8 of this Article, shall be carried out via one of the following methods:

a) Online submission through the National Public Service Portal or the State Bank of Vietnam’s Pubic Service Portal (if any);

b) Direct submission at the Single-window section of the State Bank branch;

c) Sending by post.

In case of online submission through the National Public Service Portal or the State Bank of Vietnam’s Pubic Service Portal, 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 of Vietnam’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 section of the State Bank branch. Documents in the e-dossier must be electronic versions scanned from the originals (in PDF format).”.

2. To replace and repeal a number of phrases of Circular No. 29/2024/TT-NHNN

a) To replace the phrase “a commune, ward or township (hereinafter collectively referred to as commune)” with the phrase “a commune-level administrative unit (hereinafter referred to as commune)” in Clause 1, Article 7;

b) To replace the phrase “State Bank branches of provinces and centrally-run cities” with the phrase “regional State Bank branches” in Clause 5, Article 12; Point b, Clause 1, Clause 2, Article 34;

c) To replace the phrase “the Banking Supervision Agency” with the phrase “the Credit Institutions Supervision Department” in Clause 1, and Point b, Clause 2, Article 34;

d) To replace the phrase “district-level People’s Committee” with the phrase "competent People’s Committee” in Clause 4, Article 26;

dd) To repeal a number of phrases as follows:

(i) To repeal the phrase “district-level People’s Committee and” at Point c, Clause 4, Article 32;

(ii) To repeal the phrase “the Chief of the Office, the Chief of the Banking Supervision Agency,” in Article 36.

Article 3. Amending and supplementing a number of articles of Circular No. 32/2024/TT-NHNN dated June 30, 2024, of the Governor of the State Bank of Vietnam, providing for the operational network of commercial banks

1. To amend and supplement a number of articles of Circular No. 32/2024/TT-NHNN

a) To amend and supplement Clause 3, Article 1 as follows:

“3. The operational network of the Fortune Vietnam Joint Stock Commercial Bank shall comply with this Circular and regulations of the State Bank of Vietnam on post transaction offices under the Fortune Vietnam Joint Stock Commercial Bank.”;

b) To amend and supplement Clauses 9 and 11, Article 3 as follows:

“9. Hanoi or Ho Chi Minh City inner area covers the wards of Hanoi or Ho Chi Minh City.”.

“11. Rural area means an administrative boundary that does not include the area of a ward.”;

c) To amend and supplement Point a, Clause 3, Article 5 as follows:

“a) Online submission through the National Public Service Portal or the State Bank’s Pubic Service Portal (if any);”;

d) To amend and supplement Clause 4, Article 5 as follows:

“4. 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 section of the State Bank or State Bank branch.”;

dd) To amend and supplement Point b, Clause 3, Article 14 as follows:

“b) The State Bank branch of the locality where the commercial bank plans to establish a domestic branch or transaction office for opinions assessing the necessity to add a branch or transaction office in the provincial-level area where the commercial bank requests the establishment of a branch or transaction office; areas where branches or transaction offices are expected to be established; and the eligibility as prescribed in this Circular of the branch expected to manage the transaction office in the locality (in case of request for establishment of a transaction office).”;

e) To add Article 37a after Article 37 as follows:

“Article 37a. Responsibilities of the State Bank Inspectorate

In the course of inspection, upon detecting any of the cases specified in Clauses 3, 4, and 5, Article 30 of this Circular, the State Bank Inspectorate shall immediately provide information to the Credit Institutions Supervision Department for the latter to issue a written request or submit to the Governor of the State Bank a written request for the commercial bank to terminate the operation of its branch, transaction office, representative office, or non-business unit.”.

2. To replace and repeal a number of phrases of Circular No. 32/2024/TT-NHNN

a) To replace the phrase “the Chief of the Banking Supervision Agency” with the phrase “the Director of the Credit Institutions Supervision Department” in Clause 2, Article 4; Clause 2, Article 30, and Clause 3, Article 37;

b) To replace the phrase “State Bank branches of provinces and centrally-run cities” with the phrase “regional State Bank branches” in Clause 3, Article 4; Clause 2, Article 5;

c) To replace the phrase “the Banking Supervision Agency” with the phrase “the Credit Institutions Supervision Department” in Clauses 3 and 4, Article 14; Clause 2, Article 16; Clause 1, Article 18; Clause 2, Article 2-; Clauses 4 and 5, Article 29; Clauses 6 and 7, Article 30; Clause 2, Article 31; the title of Article 37, Article 38, Appendix No. 02;

d) To replace the phrase “the Communications Department” with the phrase “the Banking Times” in Clause 5, Article 23;

dd) To replace the phrase “4. State Bank branches of localities where the commercial banks’ branches and transaction offices are expected to be headquartered as specified in Clause 5, Article 19 of this Circular shall send a written notice to State Bank branches of localities where branches and transaction offices are currently headquartered” with the phrase “5. State Bank branches of localities where the commercial banks’ branches and transaction offices are expected to be headquartered as specified in Clause 5, Article 19 of this Circular shall send a written notice to State Bank branches of localities where branches and transaction offices are currently headquartered” in Article 36;

e) To replace the phrase “commune/ward/township, district/town, provincial city/city under centrally-run city, province/centrally-run city” with the phrase “name of the commune-level administrative unit, province/centrally-run city” at Points 1.1 and 1.2, Section 1, Part I of Appendix No. 01;

g) To repeal the phrase “(including e-documents)” at Point b, Clause 4, Article 19; Point b, Clause 3, Article 22; Point b, Clause 2 and Point b, Clause 3, Article 29;

h) To repeal the phrase “the Chief of the Office, the Chief of the Banking Supervision Agency,” in Article 41;

i) To repeal the phrase “rural area” and “other areas” in the columns “in Hanoi” and “in Ho Chi Minh City” in Table 1 of Appendix No. 02.

Article 4. Implementation responsibility

Heads of units under the State Bank of Vietnam, commercial banks, cooperative banks, people's credit funds and relevant organizations and individuals shall implement this Circular.

Article 5. Implementation provisions

1. This Circular takes effect from July 1, 2025.

2. Transitional provisions:

a) Commercial banks are not required to adjust their number of branches and transaction offices established before the effective date of this Circular. In cases of establishing new network units, the provisions of Circular No. 32/2024/TT-NHNN dated June 30, 2024, of the Governor of the State Bank of Vietnam, providing for the operational network of commercial banks, and this Circular must be complied with (except for the provision at Point b, Clause 2 of this Article);

b) Commercial banks that have submitted written requests for approval of eligibility to establish branches, transaction offices, representative offices, or non-business units within Vietnam to the State Bank of Vietnam and have received written opinions from the People’s Committees of provinces or centrally-run cities and from the State Bank branches as stipulated at Points a and b, Clause 3, Article 14 of Circular No. 32/2024/TT-NHNN before the effective date of this Circular, shall not be required to re-collect opinions from the State Bank branch as prescribed at Point dd, Clause 1, Article 3 of this Circular, or from the People’s Committees of provinces or centrally-run cities.

3. This Circular repeals Clause 1 and Point a, Clause 5, Article 1 of Circular No. 27/2022/TT-NHNN dated December 31, 2022, the Governor of the State Bank of Vietnam, amending and supplementing a number of articles of Circulars on decentralization in handling administrative procedures in banking establishment and operation.

4. This Circular repeals Clauses 1 and 2, Article 1 of Circular No. 11/2023/TT-NHNN dated August 31, 2023, of the Governor of the State Bank of Vietnam, amending and supplementing a number of articles of Circular No. 43/2015/TT-NHNN dated December 31, 2015, of the Governor of the State Bank of Vietnam, on the organization and operation of post transaction offices under Lien Viet Post Joint Stock Commercial Bank./.