Bangkok Bank permitted to open branch in Hanoi

The Governor of the State Bank of Vietnam (SBV) issued, on March 6, License No. 48/GP-NHNN to permit the Bangkok Bank Public Company Limited (Bangkok Bank) to open a branch in Hanoi, Vietnam on the basis of transferring the Bangkok Bank Sub-Branch (Hanoi) to the Bangkok Bank Branch (Hanoi) with the charter capital of US$ 15 million.

Under the License, the Bangkok Bank Branch (Hanoi) is allowed to operate for the maximum duration of the remaining time of the Bangkok Bank Branch (HoChiMinh City) in line with the License No. 03/NH-GP of the SBV Governor dated April 15, 1992.

The Branch is allowed to conduct capital mobilization, credit operations, payment services, treasury operations and other activities as specified in the License.

Additionally, the Branch could conduct other banking operations if it is necessary and approved by SBV.

The Bangkok Bank Branch (Hanoi) will run business in compliance with the Vietnamese law; the Law and the Amended Law on Credit Institutions; the foreign exchange regulations; Decree No. 22/2006/NĐ-CP of the Government dated February 28th, 2006 on organization and operations of foreign bank branches, joint-venture banks, wholly foreign – owned banks, and representative offices of foreign credit institutions in Vietnam; and other legal documents promulgated by the SBV Governor.

The Branch is located at Room 3, 3rd Floor, International Center, 17 Ngo Quyen Street, Hoan Kiem District., Hanoi, Vietnam.

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