PROVIDING AMENDMENTS TO CIRCULAR NO. 53/2018/TT-NHNN PRESCRIBING OPERATING NETWORK OF NON-BANK CREDIT INSTITUTIONS

1. The Governor of the State Bank of Vietnam (hereinafter referred to as “SBV’s Governor”) shall consider giving approval for the establishment, compulsory termination of operation, and dissolution of branches of non-bank credit institutions.

2. The Director of each SBV’s regional branch shall consider giving approval for:

a) Relocation of a branch of a non-bank credit institution within the area under the management of the SBV’s regional branch (including relocation prior to the commencement of operations);

b) Voluntary termination of operation or dissolution of a branch of a non-bank credit institution within the area under the management of the SBV’s regional branch;

c) Establishment, compulsory termination of operation, or dissolution of a representative office or administrative unit of a non-bank credit institution.”.

1. Applications must be prepared in Vietnamese. Documents included in an application must be the originals or the copies derived from master registers or certified copies or copies presented together with their originals for verification purpose as regulated by laws.  Each application package must include a list of documents.

2. Applications/notifications of a non-bank credit institution must be signed by its legal representative or authorized representative (hereinafter referred to as "lawful representative").

If documents included in an application of a non-bank credit institution are signed by its authorized representative, this application must contain the written authorization made in accordance with applicable laws.

3. An application shall be sent to the State Bank of Vietnam (hereinafter referred to as “SBV”), or the relevant regional branch of the State Bank of Vietnam (hereinafter referred to as “SBV’s branch”) adopting one of the following methods:

a) Online submission via the National Public Service Portal;

b) Direct submission at the Single-window Section of SBV or the relevant SBV’s branch;

c) Submission by post.

4. Where an application is submitted online via the National Public Service Portal, electronic documents to be submitted may bear digital signatures in accordance with regulations of law on completion of administrative procedures in the electronic environment.

In the event that the National Public Service Portal failed or encountered a problem, and thus is unable to receive and exchange electronic information, submission and receipt of documents, return of results, exchange, and response to information will be made via postal services or directly at the Single-Window Section of SBV or the relevant SBV’s branch.

5. The results of processing of administrative procedures shall be sent online to the non-bank credit institution in electronic form; where requested by the non-bank credit institution, the results in paper form shall be sent to the non-bank credit institution by post, or returned directly at the Single-window Section of SBV or relevant SBV’s branch.

6. Documents included in an electronic application are scanned electronic copies of original or physical original documents (in PFD format), or documents generated from an electronic system and bearing digital signatures.”.

“3. Within five (05) business days from the date of promulgation or modification of its Regulations on operating network management, the non-bank credit institution must submit such Regulations to SBV (via the Credit Institution Management and Supervision Department), and the SBV’s branch in charge of the area where the non-bank credit institution is headquartered.”.

“1. An application form for the SBV’s approval for establishment of a branch, or for the approval by the SBV’s branch for establishment of a representative office/administrative unit made by the non-bank credit institution using the form provided in the Appendix enclosed herewith.”.

“1. Procedures for approval before the commencement of operations: 

a) The non-bank credit institution shall prepare 01 package of application documents for the type of its network member unit to be established in accordance with Article 9 hereof, and submit it to SBV or the relevant SBV’s branch. If the application is incomplete or invalid, within 07 business days from the receipt of the application, the SBV or SBV’s branch shall request the applicant in writing to modify and complete its application;

b) The applicant is required to modify and submit a complete application within a maximum of 21 business days from the date on which it receives the written request for application modification from the SBV or SBV’s branch. After the aforementioned time limit, the non-bank credit institution must prepare and submit a new application as prescribed in this Circular to the SBV or SBV’s branch for consideration;

c) Regarding the establishment of a branch, within 05 business days from the receipt of a complete application, the Credit Institution Management and Supervision Department shall send written request for opinions to the SBV Inspectorate and the relevant SBV's branch (in charge of the area where the non-bank credit institution intends to establish its branch) regarding the non-bank credit institution’s satisfaction of the conditions for branch establishment and the necessity of establishing an additional branch in such area;

d) Within 05 business days from the receipt of the written request for opinions from the Credit Institution Management and Supervision Department, the agencies mentioned in point c of this clause are required to provide their written opinions about requested matters;

dd) Within 11 business days from the receipt of the opinions from the SBV Inspectorate and the relevant SBV's branch mentioned in point c of this clause, the Credit Institution Management and Supervision Department shall submit to the SBV’s Governor for decision a written approval or refusal to give approval for the establishment of the branch by the non-bank credit institution;

e) Within 21 business days from the receipt of a complete application for approval for establishment of a branch or within 11 business days from the receipt of a complete application for approval for establishment of a representative office or an administrative unit submitted by the non-bank credit institution, the SBV or the SBV’s branch shall give a written approval or refusal to give approval to the non-bank credit institution.  If an application is refused, reasons for such refusal must be provided in writing;

g) Within 12 months from the date on which the SBV or the SBV’s branch gives a written approval for establishment, the non-bank credit institution must commence operations of the established branch, representative office or administrative unit.  If the non-bank credit institution fails to commence operations of its branch, representative office or administrative unit within such time limit, the written approval given by the SBV or the relevant SBV’s branch shall automatically cease to be effective.”.

1. Clause 2 is amended as follows:

The phrase “Cơ quan Thanh tra, giám sát ngân hàng” (“the Bank Supervision and Inspection Agency”) is replaced with the phrase “Cục Quản lý, giám sát tổ chức tín dụng” (“the Credit Institution Management and Supervision Department”).

2. Clause 2a is added following clause 2 as follows:

“2a. Where the address of a representative office or administrative unit is changed without any relocation, the non-bank credit institution shall send a written notification of such change to the SBV’s branch in charge of the area where such representative office or administrative unit is located within 05 business days from the date of occurrence of such change.”.

“b) Within 11 business days from the receipt of a complete application as prescribed in clause 1 of this Article, the SBV’s branch shall give a written approval or refusal to give approval to the applicant. In case of refusal, reasons for refusal shall be provided.”.

 “1. A branch, representative office, or administrative unit of a non-bank credit institution shall be subject to consideration for termination of operation or dissolution in any of the following cases:

a) There is evidence showing that the application for establishment of the branch, representative office, or administrative unit contains false information, leading to a misassessment of the non-bank credit institution’s satisfaction of the conditions for establishing such branch, representative office, or administrative unit;

b) It operates in a manner inconsistent with the scope of operations permitted by regulations of law.

2. Upon determining that a non-bank credit institution falls into any of the cases specified in clause 1 of this Article, the SBV’s branch in charge of the area where the branch, representative office, or administrative unit of the non-bank credit institution is located shall:

a) Send a written request, clearly stating the reasons, for a decision on termination of operation or dissolution of the branch of the non-bank credit institution to SBV (via the Credit Institution Management and Supervision Department);

b) Issue a written request to the non-bank credit institution to terminate the operation of, or dissolve, its representative office or administrative unit.

3. Within 11 business days from the receipt of the written request for termination of operation or dissolution of the branch of a non-bank credit institution from the SBV’s branch as prescribed in clause 2 of this Article, or where, during inspection and supervision activities, a case specified in clause 1 of this Article is detected, the Credit Institution Management and Supervision Department shall submit to the SBV’s Governor for issuance of a written request requiring the non-bank credit institution to terminate operation of or dissolve its branch.

4. Within 90 days from the date on which the SBV’s branch issues a written request requiring the non-bank credit institution to terminate the operation of or dissolve its representative office or administrative unit as prescribed in clause 2 of this Article, and the SBV issues a written request requiring the non-bank credit institution to terminate the operation of or dissolve its branch as prescribed in clause 3 of this Article, the non-bank credit institution shall carry out the legal procedures, as prescribed by law, to terminate the operation of or dissolve its branch, representative office, or administrative unit; submit a written report to the SBV (via the Credit Institution Management and Supervision Department) and the relevant SBV’s branch in charge or the area where such branch, representative office, or administrative unit is located on the results of such termination or dissolution.

5. Within 05 business days from the date of receipt of the report as prescribed in clause 4 of this Article, the SBV’s branch shall notify in writing the relevant provincial-level business registration authority of the information on the termination of operation or dissolution of the branch or representative office as reported by the non-bank credit institution as prescribed in clause 4 of this Article.”.

“2a. Assume responsibility for organization and operation of its branches; submit reports to the SBV’s branch in charge or the area where its branch is located on the resolution of any issues arising from the organization and operation of such branch;

2b. Take charge of regular management and supervision of operation of its branches.”.

Each SBV’s branch shall:
1. Assume responsibility before the SBV’s Governor for performance of tasks within its competence as prescribed in this Circular.

2. Receive applications and consider giving or refusing to give approval for the contents within its competence as prescribed in clause 2 Article 4 of this Circular.

3. Manage, inspect, examine, and supervise operations of branches, representative offices, and administrative units of non-bank credit institutions within the area under its management.

4. Within 05 business days from the date of receipt of the report of a non-bank credit institution as prescribed in clause 1a Article 21 of this Circular, the SBV’s branch shall issue a written notification to the relevant provincial-level business registration authority of any changes in the branch’s director or holder of equivalent position, or the head of the representative office, as reported by the non-bank credit institution as prescribed in clause 1a Article 21 of this Circular.

5. Cooperate with the Credit Institution Management and Supervision Department in handling issues arising from the organization and operation of branches, representative offices, and administrative units of non-bank credit institutions within the area under its management.

6. Provide its opinions for the Credit Institution Management and Supervision Department as prescribed in point c clause 1 Article 10 of this Circular.

7. Send written reports to SBV (via the Credit Institution Management and Supervision Department) as prescribed in clause 2 Article 19 of this Circular.

8. Receive reports and notifications from non-bank credit institutions in accordance with the provisions of this Circular.”

1. Responsibilities of the Credit Institution Management and Supervision Department:

a) Assume responsibility before the SBV’s Governor for performance of tasks within its competence as prescribed in this Circular;

b) Play the leading role in receiving and examining applications, and submitting them to the SBV’s Governor to give approval or refusal to give approval in accordance with regulations of clause 1 Article 4 of this Circular;

c) Provide the relevant SBV’s branch with the written approval for the contents specified in clause 1 Article 4 of this Circular so that the SBV’s branch may notify the relevant provincial-level business registration authority;

d) Cooperate with SBV’s branches in handling issues arising from the organization and operation of branches, transaction offices, representative offices and administrative units of non-bank credit institutions,

dd) Receive reports and notifications submitted by non-bank credit institutions in accordance with regulations of this Circular;

e) Supervise non-bank credit institutions in maintaining actual charter capital not lower than the minimum legal capital as required.

2. Responsibilities of relevant Departments and Agencies of SBV:

a) Where any of the cases specified in clause 1 Article 19 of this Circular is detected during its inspection, the SBV Inspectorate shall promptly provide information on such case to the Credit Institution Management and Supervision Department for submission to the SBV’s Governor for issuance of a written request requiring the concerned non-bank credit institution to terminate operations of or dissolve its branch;

b) Within 03 business days from the date of receipt of a request from a non-bank credit institution as prescribed in Articles 11, 15, and 20 of this Circular, the SBV Office shall publish the relevant information on the SBV’s web portal;

c) Other Departments, Agencies, and units of the SBV shall provide opinions on relevant matters according to directives made by the SBV’s Governor on the basis of proposals of the Credit Institution Management and Supervision Department, and as prescribed in this Circular.”.

Heads of SBV’s affiliated units, and non-bank credit institutions are responsible for the implementation of this Circular.”.

The Appendix enclosed with the Circular No. 53/2018/TT-NHNN is replaced by the Appendix enclosed herewith.

1. This Circular comes into force from July 03, 2026.

2. This Circular nullifies:

a) Clauses 1, 2, 10 and 13 Article 1 of the Circular No. 30/2024/TT-NHNN of the SBV’s Governor;

b) Article 19, Article 23 of and the Appendix enclosed with the Circular No. 69/2025/TT-NHNN.

Heads of SBV’s affiliated units, and non-bank credit institutions are responsible for the implementation of this Circular./.