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HDBank allowed to provide additional services
The Governor of the State Bank of Vietnam (SBV) issued Decision No. 1544/QĐ-NHNN on August 7 to expand operational coverage of the license of the Housing Development Commercial Joint-Stock Bank (HDB).
Accordingly, the SBV Governor agrees to make an addition of “bond trading for profit making from price difference; bond trading for investment; acting as a lending trustee and trustor; providing banking guaranty services for domestic and foreign institutions and individuals in line with the relevant legal texts and SBV guidelines” to Article 2 in License No.102/QD-NH5 of the SBV Governor dated June 6, 1992.
The HDBank is responsible for revising its Charter and registering its revised Charter in accordance with law.
The Decision took effect on the date of signing and is an integral part of License No.102/QD-NH5 dated June 6, 1992.
In addition, the SBV Governor assigns the SBV branch in Ho Chi Minh City to monitor HDBank’s implementation of the above-mentioned contents.
On the same day, the SBV Governor issued Document No.4904/NHNN-TTGSNH guiding HDBank to implement the revised contents for its License. In particular: HDBank should ensure the trading of bonds for profit making from price difference for listed bonds in the Stock Exchange or registered bonds for trading in the Upcom.
The risk of purchasing and possessing unlisted bonds in the Stock Exchange or registered bonds for trading in the Upcom is managed in the same manner as credit extension.
When acting as a lending trustee and trustor, HDBank should meet the requirements as defined in Circular No. 04/2012/TT-NHNN dated March 8, 2012 on the trustees and trustors for credit institutions and foreign bank branches and the other relevant legal texts.
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