COMMERCIAL BANKS MUST DISCLOSE INFORMATION WITHIN 7 WORKING DAYS BEFORE INAUGURATING TRANSACTION OFFICES
This highlight content is prescribed by the State Bank of Vietnam in the Circular No. 01/2022/TT-NHNN dated January 28, 2022, 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.
Specifically, commercial banks shall inaugurate the operation of domestic branches, transaction offices after satisfying the requirements, completing the procedures for branch operation registration (for branches) or notifying the establishment of business locations (for transaction offices) in accordance with the provisions of law.
Within 7 working days before the expected date of inaugurating the domestic branch or transaction office specified in this Article, the commercial bank must disclose information on its e-portal and the State Bank’s e-portal, a daily newspaper in 3 consecutive issues or an electronic newspaper of Vietnam.
Besides, the commercial bank shall decide on a change of the name of a domestic branch or transaction office; within 5 working days after the domestic branch or transaction office operates under the new name, it must send a written report on this change to the State Bank branch of the locality where the domestic branch or transaction office is located.
This Circular takes effect on March 15, 2022.
