Saigon Branch of Deutsche Bank AG Allowed to Provide Additional Services

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HCMC branch of Deutsche Bank AG allowed to provide additional services


(05/05/2014)
The Governor of the State Bank of Vietnam (SBV) issued Decision No. 823/QĐ-NHNN on April 29 to extend the operational coverage of the license of the Ho Chi Minh City (HCMC) branch of the Deutsche Bank AG.
Accordingly, the SBV Governor has approved the additional operations of “trustee and trustor; discounting negotiable instruments and selling debts” to Article III of License No. 20/NH-GP dated June 28, 1995.

The HCMC branch of the Deutsche Bank AG is responsible for meeting all requirements and regulations in accordance with Circular No. 04/2012/TT-NHNN dated March 8, 2012 on trustee and trustor operations of credit institutions and foreign bank branches; Circular No. 04/2013/TT-NHNN dated March 1, 2013 on discounting negotiable instruments and other valuable papers of credit institutions and foreign bank branches and the other relevant legal texts; and Decision No. 59/2006/QĐ –NHNN dated December 21, 2006 on debt trading of credit institutions.

In addition, the HCMC branch of the Deutsche Bank AG is required to register additional operations with the relevant authorities and publicize new operations of its License in accordance with Item 4 of Article 29 of the Law on Credit Institutions.

DH


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