On February 21, 2022, the State Bank of Vietnam (SBV) issued Decision No. 177/QD-NHNN announcing a number of amendments, supplementations, replacements and abolitions of administrative procedures regarding the establishment and operations in the banking sector, which are performed at the Single Window under the SBV’s jurisdiction.
The amended and supplemented administrative procedures under the SBV’s jurisdiction are:
(i) The administrative procedures performed at the SBV level are the procedures for the approval of the establishment of a domestic branch of a commercial bank; the procedures for the approval of the establishment of a transaction office of a commercial bank; the procedures for the approval of the establishment of an overseas branch or a wholly-owned bank overseas of a commercial bank;
(ii) The administrative procedures performed at the SBV provincial branches are the procedures for the approval of a change of the head office of a branch or a transaction office of a commercial bank; the procedures for the approval of a change in the supervising branch of a transaction office of a commercial bank; the procedures for the voluntary termination of operations of a domestic branch of a commercial bank; the procedures for the approval of the voluntary termination of operations of a transaction office of a commercial bank.
The replaced administrative procedures under the SBV’s jurisdiction are: the procedures for the approval of the establishment of a domestic non-business unit of a commercial bank; the procedures for the approval of the establishment of a domestic representative office of a commercial bank.
The abolished administrative procedures under the SBV’s jurisdiction are: the procedures for the approval of a change in the name of a domestic branch of a commercial bank; the procedures for the approval of the eligibility for the inauguration of a domestic branch or a transaction office of a commercial bank.
This Decision takes effect from March 15, 2022. The regulations on the required dossiers to be submitted online by the applying commercial bank and the approving document issued by an SBV provincial branch in electronic format are stipulated in Circular No. 01/2022/TT-NHNN, which takes effect from December 1, 2022.
This Decision shall abolish the administrative procedures under the following codes: 1.003334; 2.001392; 2.001377; 2.001380 as announced in Decision No.1814/QD-NHNN dated September 17, 2018; 1.000194; 1.000206; 1.000394; 1.002167; 2.000123; 1.000372 as announced in Decision No.1998/QD-NHNN dated October 6, 2015./.
Source: svb.gov.vn