Vietnam’s current regulations on procedures for increase in charter capital of non-bank credit institutions

Non-bank credit institutions that want to increase their charter capital must prepare a set of documents to send to the State Bank of Vietnam. Procedures for approval of increase in charter capital are carried out as follows:

- The non-bank credit institution shall send the applications to the State bank directly or by post. If the application if not sufficient, within 10 working days from the receipt of the above application, the State bank shall sent a document requiring the non-bank credit institution to supplement the application;

- Within 30 days from the day on which the satisfactory application is received, the Bank Supervision and Inspection Agency shall request the Governor to decide whether to issue an official approval for the request of the non-bank credit institution;

- Within 45 working days from the day on which the satisfactory application is received, the State bank shall issue the written approval or disapproval for the request of the non-bank credit institution. If the application is rejected, the State bank must provide explanation in writing.

- The written approval for increase in charter capital shall be valid for 12 months from the day on which it is signed;

- Within 10 working days since the completion of the increase of charter capital, the non-bank credit institution shall send the applications specified in Clause 3 Article 9 of Circular No. 25/2017/TT-NHNN to the State bank directly or by post;

- Within 20 days from the day on which the satisfactory application is received, the State bank shall revise the License regarding the increase in charter capital of the non-bank credit institution. If the application is rejected, the State bank must provide explanation in writing.

View the application for increase in charter capital at Circular No. 25/2017/TT-NHNN of the State Bank of Vietnam, effective from February 26, 2018.

- Thanh Lam -

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