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HCMC branch of Deutsche Bank AG allowed to provide additional services
The State Bank of Vietnam (SBV) issued Document No. 4325/NHNN-TTGSNH June 19, 2014 on permitting Ho Chi Minh City (HCMC) branch of the Oversea – Chinese Banking Corporation Limited to increase its charter capital from USD 25 billion to USD 31 billion.
The HCMC branch of the Oversea – Chinese Banking Corporation Limited is responsible for registering and publicizing revised substance in line with Article 29 of the Law on Credit Institutions. Moreover, it is required to send application and a photo of business certificate with new charter capital to the SBV for its approval of revising charter capital in License No. 27/NH-GP dated October 31, 1996, of which it commits to strictly implement the SBV Governor’s guidance on credit growth from time to time.
The Document takes effect within 12 months from the date of signing. It will cease to be effective if the increase of the charter capital is not implemented as scheduled.