Accordingly, the Cooperative Bank of Vietnam is headquartered at 15T Building, Nguyen Thi Dinh Street, Trung Hoa Ward, Cau Giay District, Hanoi. Its charter capital is VND 3,000 billion, including the state supportive capital, and contribution of member People's Credit Funds and other legal entities. The operational duration of the Cooperative Bank of Vietnam is 99 years. This Bank operates nationwide and is allowed to establish network in the country and abroad when getting SBV’s written permission. In its operations, the Cooperative Bank of Vietnam is required to comply with law.
Regarding the operational scope, the Cooperative Bank of Vietnam is allowed to conduct the following operations:
For member people's credit funds: Opening deposit accounts for its members as people's credit funds; receiving deposits, lending for capital allocation to member people's credit funds in line with the regulations on capital allocation approved by the Board of Directors of the Cooperative Bank of Vietnam and publicized to all the member people’s credit funds; formulating, developing and applying new products and services in operations of the member people's credit funds to meet their needs and for the community interests in their locations upon permission of the SBV.
For customers as non-member people’s credit funds: receiving demand and term deposits, savings deposits, payment deposits and other deposits of individuals and entities; lending customers as non-member people’s credit funds following the prioritized meeting of the needs of capital allocation to member people's credit funds; maintaining the proportion of loan outstanding for customers as non-member people’s credit funds in accordance with the SBV regulations.
The Cooperative Bank of Vietnam has to continue performing all the rights, obligations, and legal interests and tackling all the remaining problems of the Central People's Credit Fund in line with the Law on Credit Institutions and the other relevant legal texts.
Source: sbv.gov.vn