Accordingly, the Director of the SBV Ho Chi Minh City Branch has allowed Kookmin Bank – a Korean bank with its headquarters at No. 26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul City, South Korea – to revise License No. 21/GP-NHNN dated January 19, 2011 on the establishment of a foreign bank branch issued to Kookmin Bank - Ho Chi Minh City Branch, to read as follows:
Branch name:
Full name in Vietnamese: Ngân hàng Kookmin – Chi nhánh Thành phố Hồ Chí Minh;
Full name in English: Kookmin Bank - Ho Chi Minh City Branch;
Abbreviated name: KB HCMC;
Transaction name: KookminBank - Ho Chi Minh City Branch;
Office address: 3rd Floor, Mplaza Saigon Building, 39 Le Duan Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam.
The charter capital: USD 100,000,000 (in words: One hundred million US dollars);
The operation duration of Kookmin Bank - Ho Chi Minh City Branch is 99 years, starting from January 19, 2011.
Kookmin Bank - Ho Chi Minh City Branch is permitted to perform the operations of a commercial bank in accordance with the laws, and the SBV’s regulations, including the following activities:
(i) Receiving time and demand deposits, savings and other deposits;
(ii) Extending credit in such forms as lending, discounting and rediscounting of negotiable instruments and other valuable papers; bank guarantees; issuing credit cards, domestic factoring;
(iii) Opening payment accounts;
(iv) Providing payment services in the domestic market: providing payment methods; performing services of payment by cheque, payment orders, encashment orders, letters of credit, bank cards, cash in and cash out;
(v) Opening accounts: Opening accounts at the SBV, other credit institutions and foreign banks’ branches;
(vi) Internal payment, participating in the national inter-bank payment system;
(vii) Providing services of cash management, banking and finance consultancy, asset preservation and safe keeping;
(viii) Providing consultancy services in the fields of corporate finance, M&A, and investment;
(ix) Participating in the biddings for the State Treasury bills, and the trading of negotiable instruments, the Government bonds, the SBV bills and other valuable papers in the money market;
(x) Trading of corporate and the Government bonds;
(xi) Providing the service of money brokerage;
(xii) Issuing certificates of deposits, promissory notes, bills and bonds to mobilize capital in accordance with the Law on Credit Institutions, the Securities Law, the Government regulations and the SBV’s guidance;
(xiii) Borrowing from the SBV in the form of refinancing under the Law on the State Bank of Vietnam and the SBV’s guidance;
(xiv) Borrowing, lending, depositing and receiving deposits of other credit institutions, foreign banks’ branches, domestic and international financial institutions in line with the applicable laws and the SBV’s guidance
(xv) Being a trustee and/or a trustor, acting as an agent in relation to banking operations, insurance and asset management in line with the applicable laws and the SBV’s guidance;
(xvi) Trading and providing foreign exchange services in the domestic market and in the international market within the scope prescribed by the SBV;
During the operational duration, Kookmin Bank - Ho Chi Minh City Branch shall comply with the applicable laws of Vietnam.
This new License took effect from the date of signing and shall replace License No. 21/GP-NHNN dated January 19, 2011 on the establishment of a foreign bank branch./.
Source: Sbv.gov.vn