HSBC Vietnam allowed to do factoring

The State Bank of Vietnam (SBV) issued, on March 9, Decision No. 484/QD-NHNN to permit the HSBC Bank (Vietnam) Ltd. to conduct factoring.

Accordingly, the HSBC Bank (Vietnam) Ltd. is allowed to conduct factoring operations in the domestic market and import-export in line with Decision No. 1096/QD-NHNN dated September 6, 2004 on regulations of factoring operations of credit institutions and Decision No. 30/2008/QD-NHNN dated October 16, 2008 on amending  Decision No. 1096/QD-NHNN and other relevant regulations.

This Decision takes effect on the signing date and is an integral part of the HSBC Bank (Vietnam) Ltd.’s License No. 235/GP-NHNN issued by the SBV Governor on September 8, 2008.

SBV

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