Which is the lead credit institution according to Circular 46/2018/TT-NHNN?

05:54, 11/07/2024

On December 28, 2018, the State Bank of Vietnam issued Circular 46/2018/TT-NHNN stipulating the duration, order, and procedures for the transition in cases where a major shareholder of a credit institution and the related person of that shareholder own 5% or more of the charter capital of another credit institution.

According to the provisions of Circular 48, the principal credit institutions include the following credit institutions:

- A credit institution with a major shareholder, where that shareholder and related persons own 5% or more of the charter capital of another credit institution; or- A credit institution with a major shareholder that is agreed upon and selected by other credit institutions to be the principal credit institution; or- A credit institution with a major shareholder that has the highest shareholding ratio in the event that credit institutions with the same major shareholder cannot agree on the principal credit institution to develop a plan to remediate the excess shareholding.

See the related regulations in Circular 46/2018/TT-NHNN, effective from March 1, 2019.

- Thanh Lam -

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