Vietnam Central Bank Revokes License of Credit Agricole Corporate and Investment Bank in Saigon

Theo nguồn tin trên trang mạng Vietnam Central Bank

SBV revokes licenses of branches of Credit Agricole Corporate and Investment Bank (12/03/2014)
The State Bank of Vietnam (SBV) issued Decisions No. 420 and 421/QĐ-NHNN on March 03, 2014 to revoke the licenses of Hanoi and Ho Chi Minh City (HCMC) branches of Credit Agricole Corporate and Investment Bank.
Accordingly, the SBV Governor has decided to revoke License No. 02/NH-GPCN dated October 26, 1993 on allowing the Hanoi branch of the Credit Lyonnais Viet Nam to open a sub – branch in HCMC (current name is the Hanoi branch of Credit Agricole Corporate and Investment Bank) and License No. 02/NH-GPCN dated April 1, 1992 for the HCMC branch of BANQUE INDOSUEZ (current name is the HCMC branch of the Credit Agricole Corporate and Investment Bank).

The Hanoi and HCMC branches of the Credit Agricole Corporate and Investment Bank are responsible for publicizing the decisions on the revoking of their licenses, and implementing asset liquidation and other obligations in accordance with Circular No. 34/2011/TT-NHNN dated October 28, 2011 on the procedures of revoking licenses and liquidating assets of credit institutions and foreign bank branches; and the procedures of revoking licenses of representative offices of foreign credit institutions and other foreign institutions engaged in banking and the other relevant legal texts.

The Decisions took effect on the date of signing.

TLH

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