Hanoi branch of Industrial and Commercial Bank of China Limited allowed to do factoring

The State Bank of Vietnam (SBV) issued Decision No. 1033/QĐ-NHNN on May 18 to permit the Hanoi branch of the Industrial and Commercial Bank of China Limited to add “factoring operations inside Vietnam and for export – import activities” to Article 5 of its License No. 272/GP-NHNN dated December 10, 2009.

Accordingly, the Hanoi branch of the Industrial and Commercial Bank of China Limited isresponsible for registering and publicizing new operations in accordance with Item 4 of Article 29 of the Law on Credit Institutions and other relevant legal texts.

This Decision took effect on the date of signing and is an integral part of its License No.272/GP-NHNN dated December 10, 2009.

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