1. Legal documents are issued in 01/2026

1.1. Directive No. 01/CT-NHNN on the organization and implementation of key tasks of the banking sector in 2026

• Name of legal document: Directive No. 01/CT-NHNN dated 09/01/2026 issued by the State Bank of Vietnam on the organization of implementation of key tasks of the banking sector in 2026 (hereinafter referred to as “Directive No. 01/CT-NHNN”).
• Effective date: 09/01/2026.

The content should be noted: Organization of implementation of solutions on monetary policy, credit, and foreign exchange.

Specifically, section 1 Part IV of Directive No. 01/CT-NHNN stipulates: “1. Organizing the implementation of solutions on monetary policy, credit and foreign exchange

1.1. Strictly comply with regulations of the SBV on monetary matters, foreign exchange activities and banking operations.

1.2. CIs, financial institutions and state-owned enterprises shall formulate business plans oriented for 2026 in accordance with the provisions of law and the guidance of the SBV, closely adhering to solutions for the administration of monetary policy, credit and banking activities of the Government and the SBV; strictly comply with the SBV’s directions on planning-oriented criteria; develop plans for increasing charter capital in accordance with the Law on Management and Investment of State Capital in Enterprises No. 68/2025/QH15, the Decrees guiding Law No. 68/2025/QH15, and the Strategy for the Development of the Banking Sector up to 2025, with orientations to 2030.

1.3. Implement solutions for safe, effective and sustainable credit growth; improve credit quality; control and handle non-performing loans. In particular:

– Ensure safe and effective credit growth in compliance with legal regulations, based on liquidity risk management and other related risks.

– Balance capital sources to meet the economy’s credit demand; direct credit to production and business sectors, priority sectors and economic growth drivers,… in line with the policies of the Government, the Prime Minister and the Governor of the SBV; focus on credit investment in feasible key projects and works serving socio-economic development; strictly control credit for sectors with potential risks.

– Continue implementing solutions to facilitate customers (including energy enterprises and private enterprises) in accessing bank credit capital through reviewing and simplifying credit procedures, documentation and collateral requirements,… while ensuring compliance with legal regulations, without loosening credit conditions to ensure operational safety and limit non-performing loans. Diversify appropriate banking credit products and services to meet legitimate capital needs of individuals, enterprises and cooperatives (including enterprises implementing education and training development projects). Enhance the application of digital transformation in credit granting processes to facilitate access to bank credit capital, ensuring strictness and safety.

– Continue vigorously implementing solutions under Resolution No. 68/NQ-TW dated 04/05/2025 and the Action Plan of the Banking Sector (issued together with Decision No. 2415/QĐ-NHNN dated 25/06/2025) on private economic development, and Resolution No. 79-NQ/TW dated 06/01/2026 on state economic development, focusing on improving internal regulations; lending based on production and business plans and market expansion plans; lending along value chains and supply chains; lending based on payment data and cash flows; lending based on forms of collateral in accordance with legal regulations.

– Promote the implementation of credit programs and policies under the direction of the Government and the Prime Minister (such as: the loan program for linking production, processing and consumption of high-quality, low-emission rice products in the Mekong Delta region; the social housing loan program under Resolution No. 33/NQ-CP dated 11/03/2023; the credit program for investment in electricity, transportation infrastructure and strategic technologies according to the list of projects provided by ministries…).

– Strengthen inspection and supervision of credit granting activities in the real estate sector; closely monitor developments in the real estate market to formulate appropriate credit orientations, ensure objective and reasonable valuation of collateral; control credit concentration levels and take measures to limit risks, ensuring the safety of CIs.

– Proactively implement and strengthen Bank–Enterprise connectivity in appropriate forms. Direct branches of CIs to coordinate with local Party committees, authorities and socio-political organizations in information dissemination and communication of credit policies to organizations and individuals; promptly report to SBV regional branches and the head offices of CIs on difficulties and obstacles in credit relations with customers.

1.4. Strictly comply with SBV regulations on interest rates; promptly rectify and handle violations related to improper interest rate practices. Continue to disclose average lending interest rates, the spread between average deposit and lending interest rates, lending interest rates of credit programs and packages, and other lending interest rates (if any) on the websites of CIs.

1.5. Promote the implementation of tasks assigned to the banking sector under national target programs; actively implement assigned tasks under the Banking Sector’s Action Plan for implementing the National Strategy on Green Growth for the period 2021–2030 with a vision to 2050; strengthen environmental risk management in credit granting activities.

1.6. Strictly comply with regulations on periodic statistical reporting regimes and ad hoc reporting requirements of the SBV.”

1.2. Directive No. 02/CT-NHNN on promoting digital transformation and ensuring information security and safety in banking activities in 2026

• Name of legal document: Directive No. 02/CT-NHNN dated 09/01/2026 issued by the State Bank of Vietnam on promoting digital transformation and ensuring information security and safety in banking activities in 2026 (hereinafter referred to as “Directive No. 02/CT-NHNN”).
• Effective date: 09/01/2026.

The content should be noted: Promoting digital transformation and ensuring information security and safety for credit institutions, payment intermediary service providers and credit information companies.

Specifically, clauses 1, 2 Part III of Directive No. 02/CT-NHNN stipulates: “1. Develop/update/integrate tasks and promote the implementation of Digital Transformation Plans/Strategies in accordance with the Banking Sector Digital Transformation Strategy to 2030; the Banking Sector Data Strategy to 2030; and the development orientation, resources and capabilities of each entity; with a focus on developing and providing new, safe and convenient products and services in a customer-centric manner, enhancing customer experience.

2. Proactively research and implement applications of artificial intelligence (AI) and other digital technologies in the provision of banking products and services, including: analysis and prediction of needs; optimization of customer journeys and experiences; fraud detection; information storage and data analysis; optimization and maximum automation of business processes; cost reduction; and provision of instant customer support services through virtual assistants, robots, etc., in accordance with legal regulations and the orientation of NHNN on digital transformation and data, ensuring consistency, synchronization and system connectivity across applications and digital products, thereby enhancing operational efficiency, customer satisfaction and customer loyalty.”.

1.3. Decree No. 05/2026/NĐ-CP on the organization and operation of banking sector inspection

• Name of legal document: Decree No. 05/2026/NĐ-CP dated 10/01/2026 issued by the Government on the organization and operation of banking sector inspection (hereinafter referred to as “Decree No. 05/2026/NĐ-CP”).
• Effective date: 15/01/2026.

The content should be noted: Inspection of the State Bank of Vietnam.

Specifically, Article 7 of Decree No. 05/2026/NĐ-CP stipulates: “Article 7. Inspection of the State Bank of Vietnam

1. The Inspection of the State Bank of Vietnam is an administrative organization within the organizational structure of the State Bank of Vietnam, assisting the Governor of the State Bank of Vietnam in state management of inspection activities, citizen reception, settlement of complaints and denunciations, and prevention and control of corruption and other negative practices; conducting inspections of agencies, organizations and individuals under the management authority of the Governor of the State Bank of Vietnam and within the scope of state management of the State Bank of Vietnam; and performing tasks of citizen reception, settlement of complaints and denunciations, and prevention and control of corruption, wastefulness and other negative practices in accordance with law.

The Inspection of the State Bank of Vietnam is subject to the direction and administration of the Governor of the State Bank of Vietnam and is subject to direction on inspection activities and professional guidance from the Government Inspectorate.

2. The Inspection of the State Bank of Vietnam consists of a Chief Inspector, Deputy Chief Inspectors, inspectors and other civil servants.

The Chief Inspector of the State Bank of Vietnam shall be appointed, reappointed, dismissed, removed from office, transferred, rotated or seconded by the Governor of the State Bank of Vietnam after obtaining written opinions from the Inspector General of the Government Inspectorate.

The Inspection of the State Bank of Vietnam has its own seal.”2. Legal documents are effective in 02/2026

2.1. Circular No. 49/2025/TT-NHNN regulating dossiers and procedures for approval of changes of non-bank credit institutions

• Name of legal document: Circular No. 49/2025/TT-NHNN dated 23/12/2025 issued by the State Bank of Vietnam regulating dossiers and procedures for approval of changes of non-bank credit institutions (hereinafter referred to as “Circular No. 49/2025/TT-NHNN”).
• Effective date: 06/02/2026.

The content should be noted: Increase of charter capital of limited liability non-bank credit institutions.

Specifically, Article 9 of Circular No. 49/2025/TT-NHNN stipulates: “Article 9. Increase of charter capital of limited liability non-bank credit institutions

1. Application dossiers shall include:a) A written request for approval of the increase of charter capital and amendment and supplementation of the License in relation to the increase of charter capital of the non-bank credit institution;b) A document of the competent authority approving the plan for increasing the charter capital of the non-bank credit institution, which shall at least include the following contents:

(i) Reasons for and necessity of increasing the charter capital;

(ii) Current charter capital and the proposed additional charter capital amount;

(iii) Expected phases of charter capital increase during the year and sources to be used for the charter capital increase;

(iv) Expected time for completion of the charter capital increase;

(v) Expected balance sheet and business performance reports for 03 consecutive years after the charter capital increase; expected plan for use of the additional charter capital in business operations;
(vi) Capacity for governance, management and risk control corresponding to the new charter capital scale;

c) An explanatory document of the non-bank credit institution, certified by an auditing organization, regarding the impact of qualified opinions on the conditions for capital increase (in cases where the audited financial statements of the non-bank credit institution contain qualified opinions);

d) In cases where the charter capital increase is funded by the owner or capital-contributing members through additional capital contribution, in addition to the dossiers specified at Points a, b and c of this Clause, the non-bank credit institution shall supplement the following documents:

(i) A commitment on the use of lawful funds of the owner or capital-contributing members for additional capital contribution;

(ii) A document issued by a Vietnamese commercial bank certifying the contributed capital amount of the owner or capital-contributing members contributing additional capital or from the contributed capital of new capital-contributing members;

(iii) Financial statements of the owner or capital-contributing members contributing additional capital for the year immediately preceding the year of application for charter capital increase, audited by an independent auditing organization in accordance with law (except where the owner or capital-contributing member is a Vietnamese credit institution). In cases where audited financial statements are not yet available at the time of dossier submission, unaudited financial statements shall be submitted, and audited financial statements must be submitted immediately after the auditing organization issues the audit report; the applicant shall be responsible for the contents of the submitted financial statements;

đ) In cases where the charter capital increase is funded by contributions from new capital-contributing members, in addition to the dossiers specified at Points a, b, c, d(i) and d(ii) of this Clause, the non-bank credit institution shall supplement dossiers of the new capital-contributing members equivalent to those required for founding members establishing a non-bank credit institution in accordance with relevant laws;

e) In cases where the charter capital increase is sourced from undistributed profits and other funds in accordance with law, in addition to the dossiers specified at Points a, b and c of this Clause, the non-bank credit institution shall supplement information on the reserve fund for charter capital supplementation, undistributed profits and other funds as determined based on the audit results of an independent auditor; information on the amounts from the reserve fund for charter capital supplementation, undistributed profits and other funds used for the charter capital increase.

2. Approval procedures:

a) The non-bank credit institution shall prepare and submit the dossier to the State Bank of Vietnam. Where the dossier is incomplete or invalid, within 10 days from the date of receipt of the dossier, the State Bank of Vietnam shall issue a written request for supplementation of the dossier;

b) Within 30 days from the date of receipt of a complete and valid dossier, the State Bank of Vietnam shall issue a decision amending and supplementing the License; where the License is not amended or supplemented, the State Bank of Vietnam shall issue a written response clearly stating the reasons.”.

2.2. Circular No. 50/2025/TT-NHNN regulating dossiers and procedures for approval of certain changes of commercial banks and foreign bank branches

• Name of legal document: Circular No. 50/2025/TT-NHNN dated 24/12/2025 issued by the State Bank of Vietnam regulating dossiers and procedures for approval of certain changes of commercial banks and foreign bank branches (hereinafter referred to as “Circular No. 50/2025/TT-NHNN”).
• Effective date: 07/02/2026.

The content should be noted: Change of name of commercial banks and foreign bank branches.

Specifically, Article 5 of Circular No. 50/2025/TT-NHNN stipulates: “Article 5. Change of name

1. Application dossiers shall include:a) A written request, which shall at least include the following contents:

(i) Current name;

(ii) Proposed new name ensuring compliance with relevant laws on naming;

(iii) Reasons for the change of name;

(iv) Number and date of the resolution or decision of the General Meeting of Shareholders of a joint-stock commercial bank approving the change of name of the commercial bank;

b) Resolution or decision of the Members’ Council of a limited liability commercial bank approving the change of name of the commercial bank; written approval of the parent bank approving the change of name of the foreign bank branch in Vietnam.

2. Approval procedures:

a) Commercial banks and foreign bank branches shall prepare dossiers in accordance with Clause 1 of this Article and submit them to the State Bank of Vietnam. Where the dossier is incomplete or invalid, within 07 working days from the date of receipt of the dossier, the State Bank of Vietnam shall issue a written request for the commercial bank or foreign bank branch to supplement and complete the dossier;

b) Within 25 working days from the date of receipt of a complete and valid dossier, the State Bank of Vietnam shall approve the change of name of the commercial bank or foreign bank branch and issue a decision amending the License; where approval is not granted, the State Bank of Vietnam shall issue a written response clearly stating the reasons.”.

2.3. Circular No. 55/2025/TT-NHNN on re-issuance of the license, supplementation of licensed activities and the organization and operations of non-bank credit institutions

• Name of legal document: Circular 55/2025/TT-NHNN dated 26/12/2025 issued by the State Bank of Vietnam on re-issuance of the license, supplementation of licensed activities and the organization and operations of non-bank credit institutions (hereinafter referred to as “Circular No. 55/2025/TT-NHNN”).
• Effective date: 09/02/2026.

The content should be noted: Procedures for re-issuance of the License and supplementation of licensed activities

Specifically, Article 8 of Circular No. 50/2025/TT-NHNN stipulates: “Article 8. Procedures for re-issuance of the License and supplementation of licensed activities

1. Where a non-bank credit institution has a demand for re-issuance of the License, supplementation of licensed activities, or supplementation of licensed activities concurrently with re-issuance of the License, it shall prepare an application in accordance with Article 7 of this Circular and submit it to the State Bank of Vietnam.
2. Within 35 days from the date of receipt of a complete and valid application, the State Bank of Vietnam shall carry out re-issuance of the License, supplementation of licensed activities, or supplementation of licensed activities concurrently with re-issuance of the License as requested by the non-bank credit institution. In case of refusal, the State Bank of Vietnam shall reply in writing and clearly state the reasons
3. After being granted re-issuance of the License or supplementation of licensed activities by the State Bank of Vietnam, the non-bank credit institution shall:a) Publicize changes to the License within 7 working days from the date of re-issuance or supplementation on 1 media outlet of the State Bank of Vietnam and 1 printed newspaper for 3 consecutive issues or on 1 Vietnamese electronic newspaper;b) Amend and supplement its Charter in conformity with the contents of the re-issued or supplemented License.”.

2.4. Decision No. 75/QĐ-NHNN on the promulgation of newly issued, amended, supplemented, and repealed administrative procedures in the field of banking establishment and operations implemented at the One-Stop Service Division under the management authority of the State Bank of Vietnam

• Name of legal document: Decision No. 75/QĐ-NHNN dated 19/01/2026 issued by the State Bank of Vietnam on the promulgation of newly issued, amended, supplemented, and repealed administrative procedures in the field of banking establishment and operations implemented at the One-Stop Service Division under the management authority of the State Bank of Vietnam.
• Effective date: 09/02/2026.

The content should be noted: Amendment and supplementation of the Procedure for approval of the establishment of transaction offices of people’s credit funds, as listed in Section I.2.B.5 of the Administrative Procedures newly issued, amended, supplemented, and repealed in the field of banking establishment and operations under the management authority of the State Bank of Vietnam, promulgated together with Decision No. 75/QĐ-NHNN.

2.5. Decision No. 77/QĐ-NHNN on the promulgation of replacement administrative procedures in the field of banking establishment and operations implemented at the One-Stop Service Division under the management authority of the State Bank of Vietnam

• Name of legal document: Decision No. 77/QĐ-NHNN dated 19/01/2026 issued by the State Bank of Vietnam on the promulgation of replacement administrative procedures in the field of banking establishment and operations implemented at the One-Stop Service Division under the management authority of the State Bank of Vietnam (hereinafter referred to as “Decision No. 77/QĐ-NHNN”).
• Effective date: 09/02/2026.

The content should be noted: Replacement of the Procedure for application for re-issuance of the license/supplementation of operational contents into the license / supplementation of operational contents into the license concurrently with re-issuance of the license of non-bank credit institutions, as listed in Section I.1.A.1 of the Replacement Administrative Procedures in the field of banking establishment and operations under the management authority of the State Bank of Vietnam, promulgated together with Decision No. 77/QĐ-NHNN.

2.6. Decision No. 78/QĐ-NHNN on the promulgation of newly issued, amended, supplemented, and repealed administrative procedures in the field of banking establishment and operations implemented at the One-Stop Service Division under the management authority of the State Bank of Vietnam

• Name of legal document: Decision No. 78/QĐ-NHNN dated 19/01/2026 issued by the State Bank of Vietnam on the promulgation of newly issued, amended, supplemented, and repealed administrative procedures in the field of banking establishment and operations implemented at the One-Stop Service Division under the management authority of the State Bank of Vietnam (hereinafter referred to as “Decision No. 78/QĐ-NHNN”).
• Effective date: 09/02/2026.

The content should be noted: Amendment and supplementation of the Procedure for application for approval of change of the head office location of microfinance institutions, as listed in Section I.2.2 of the Administrative Procedures newly issued, amended, supplemented, and repealed in the field of banking establishment and operations under the management authority of the State Bank of Vietnam, promulgated together with Decision No. 78/QĐ-NHNN.

2.7. Decree No. 340/2025/ND-CP prescribing penalties for administrative violations in monetary and banking sector

• Name of legal document: Decree 340/2025/ND-CP dated 25/12/2025 issued by the State Bank of Vietnam prescribing penalties for administrative violations in monetary and banking sector (hereinafter referred to as “Decree No. 340/2025/ND-CP”).
• Effective date: 09/02/2026.

The content should be noted: Violations against regulations on licenses granted by State Bank of Vietnam and prohibited acts

Specifically, Article 7 of Decree No. 340/2025/ND-CP stipulates: “Article 7. Article 4. Violations against regulations on licenses granted by SBV, and prohibited acts

1. A fine ranging from VND 20.000.000 to VND 40.000.000 shall be imposed for using documents containing an organization’s name different from the one specified in its license during its operation.
2. A fine ranging from VND 40.000.000 to VND 50.000.000 shall be imposed for failing to fulfill, or failing to maintain the fulfillment of, conditions for inauguration of domestic branches or transaction offices of a credit institution.
3. A fine ranging from VND 50.000.000 to VND 100.000.000 shall be imposed for failing to fulfill conditions for inauguration as prescribed by the Law on Credit Institutions.
4. A fine ranging from VND 100.000.000 to VND 150.000.000 shall be imposed for committing one of the following violations:a) Borrowing, lending, leasing, letting out, trading, or transferring a license, except the case prescribed in point b clause 4 Article 31 hereof;b) Erasing or altering the contents of a license, if not liable to criminal prosecution, except the case prescribed in point b clause 4 Article 31 hereof.
5. A fine ranging from VND 150.000.000 to VND 200.000.000 shall be imposed for committing one of the following violations:a) Falsifying documents proving the satisfaction of eligibility requirements enclosed with the application for license, if not liable to criminal prosecution, except the case prescribed in clause 2 Article 22, point a clause 4 Article 31 hereof;b) Conducting operations against the license, except the cases prescribed in clause 1, point b clause 6 of this Article; clause 6 Article 21; point c clause 8 Article 27; points c, dd clause 5, point a clause 6 Article 28; point d clause 4 Article 31 hereof;c) A transaction office performs operations which it is not allowed to perform in accordance with regulations of law on operating network of commercial banks.
6. A fine ranging from VND 300.000.000 to VND 400.000.000 shall be imposed for committing one of the following violations:a) Continuing to carry out operations after a competent authority has issued a decision on restriction, suspension or termination of operations as prescribed by the Law on the State Bank of Vietnam;b) Carrying out banking operations or other business operations other than those specified in the issued license, except the case specified in point dd clause 4 Article 8 hereof.
7. A fine ranging from VND 400.000.000 to VND 500.000.000 shall be imposed for committing one of the following violations:a) Carrying out banking operations without obtaining a license, except the cases prescribed in point c clause 8 Article 27; points d, dd clause 5, clause 8 Article 28; clause 6 Article 31 hereof;b) Committing any violation against regulations on use of terms relating to banking operations as prescribed in the Law on Credit Institutions;c) Unlawfully intervening in banking operations or other business operations of credit institutions or FBBs;d) Committing any violation against regulations on sale of optional insurance products in combination of provision if banking products and services in any shape or form as prescribed in the Law on Credit Institutions.
8. Remedial measures:a) Enforced transfer of profits illegally obtained from any of the violations in clause 4, points a, b clause 5, clause 6 and point a clause 7 of this Article to state budget;b) Proposed revocation of the license if any of the violations prescribed in points a, b clause 5 and point a clause 6 of this Article is committed;c) Proposed suspension by competent authorities of violating persons and/or persons responsible for the violation from holding the administration, management or control positions for 01 – 03 months, or proposed dismissal or prohibition of them from holding the administration, management or control positions at credit institutions or FBBs if any of the violations prescribed in clause 4, points a, b clause 5, clause 6 and point a clause 7 of this Article is committed.

The relevant credit institution or FBB is requested to remove from office and implement other appropriate measures against violating persons within their competence.

d) Enforced return of erased or altered licenses to licensing authorities or persons if the violation in point b clause 4 of this Article is committed;

dd) Enforced implementation of measures for termination of contracts for supply of insurance products and payment of costs and/or compensation for damage caused by such contract termination at the request of customers if the violation in point d clause 7 of this Article is committed.”.

2.8. Circular No. 82/2025/TT-NHNN on gold position of credit institutions

• Name of legal document: Circular No. 82/2025/TT-NHNN dated 31/12/2025 issued by the State Bank of Vietnam on gold position of credit institutions (hereinafter referred to as “Circular No. 82/2025/TT-NHNN”).
• Effective date: 12/02/2026.

The content should be noted: Limits on gold position.

Specifically, Article 4 of Circular No. 82/2025/TT-NHNN stipulates: “Article 4. Limits on gold position

1. End-of-day gold position of a credit institution:a) Must not exceed 5% of the own capital of the credit institution for credit institutions permitted to produce gold bullion;b) Must not exceed 2% of the own capital of the credit institution for credit institutions permitted to trade in the purchase and sale of gold bullion, except for credit institutions specified at point a of this Clause.
2. Own capital used to calculate the gold position limit of a credit institution shall be the own capital of the month immediately preceding the reporting period of the credit institution, determined in accordance with the regulations of the State Bank of Vietnam on safety ratios in the operations of credit institutions.
3. Credit institutions are not allowed to maintain a negative gold position.
4. Where necessary, a credit institution may maintain a gold position different from the limits specified in Clauses 1, 2 and 3 of this Article upon approval by the Governor of the State Bank of Vietnam.”.

2.9. Decision No. 63/QD-NHNN on the announcement of amended and supplemented administrative procedures in the field of establishment and operation of banks implemented at the One-Stop Shop under the management authority of the State Bank of Vietnam

• Name of legal document: Decision No. 63/QD-NHNN dated 16/01/2026 issued by the State Bank of Vietnam on the announcement of amended and supplemented administrative procedures in the field of establishment and operation of banks implemented at the One-Stop Shop under the management authority of the State Bank of Vietnam (hereinafter referred to as “Decision No. 63/QD-NHNN”).
• Effective date: 13/02/2026.

The content should be noted: Amendment and supplementation of the procedure for approval of capital contribution and share acquisition by credit institutions as listed in Part I.1 of the amended and supplemented administrative procedures in the field of establishment and operation of banks under the management authority of the State Bank of Vietnam promulgated together with Decision No. 63/QD-NHNN.

2.10. Circular No. 60/2025/TT-NHNN regulating the conditions, dossiers and procedures for approval of capital contribution and share acquisition by credit institutions

• Name of legal document: Circular No. 60/2025/TT-NHNN dated 30/12/2025 issued by the State Bank of Vietnam regulating the conditions, dossiers and procedures for approval of capital contribution and share acquisition by credit institutions (hereinafter referred to as “Circular No. 60/2025/TT-NHNN”).
• Effective date: 15/02/2026.

The content should be noted: Procedures for approval of capital.

Specifically, Article 5 of Circular No. 60/2025/TT-NHNN stipulates: “Article 5. Conditions for capital contribution and share acquisition by credit institutions

1. Conditions for capital contribution and share acquisition to establish or acquire subsidiaries as prescribed at points a and c, Clause 1, Article 1 of this Circular (excluding subsidiaries operating in the field of debt management and asset exploitation):a) The license for establishment and operation of the credit institution includes activities of capital contribution and share acquisition;b) Compliance with the minimum capital adequacy ratio as prescribed at point b, Clause 1, Article 138 of the Law on Credit Institutions during the 24 consecutive months preceding the month of application and at the time of completion of the capital contribution or share acquisition;c) Compliance with the limits on capital contribution and share acquisition as prescribed in Article 137 of the Law on Credit Institutions during the 24 consecutive months preceding the month of application and at the time of completion of the capital contribution or share acquisition;d) Profitable business performance according to the audited financial statements of the year immediately preceding the year of application, audited by an independent auditing organization;đ) No administrative sanctions imposed for violations relating to debt classification, provisioning and use of provisions for risk handling, capital contribution and share acquisition during the 12 consecutive months preceding the month of application;e) A non-performing loan ratio, as prescribed by the Governor of the State Bank of Vietnam on classification of assets in the operations of commercial banks, non-bank credit institutions and foreign bank branches, of less than 3% during the 12 consecutive months preceding the month of application;g) Assurance of a management organizational structure; the number of members, structure and terms of office of the Board of Directors, Members’ Council, Supervisory Board and General Director (Director) in compliance with the Law on Credit Institutions at the time of application.
2. Conditions for capital contribution and share acquisition to establish or acquire associate companies as prescribed at points a and c, Clause 1, Article 1 of this Circular (excluding associate companies operating in the field of debt management and asset exploitation):a) The conditions prescribed at points a, d, đ, e and g, Clause 1 of this Article;b) Compliance with the minimum capital adequacy ratio as prescribed at point b, Clause 1, Article 138 of the Law on Credit Institutions during the 12 consecutive months preceding the month of application and at the time of completion of the capital contribution or share acquisition;c) Compliance with the limits on capital contribution and share acquisition as prescribed in Article 137 of the Law on Credit Institutions during the 12 consecutive months preceding the month of application and at the time of completion of the capital contribution or share acquisition.
3. Conditions for capital contribution and share acquisition to establish or acquire subsidiaries or associate companies operating in the field of debt management and asset exploitation:a) The license for establishment and operation of the credit institution includes activities of capital contribution and share acquisition;b) Compliance with the limits on capital contribution and share acquisition as prescribed in Article 137 of the Law on Credit Institutions at the time of application and at the time of completion of the capital contribution or share acquisition;c) Compliance with the minimum capital adequacy ratio as prescribed at point b, Clause 1, Article 138 of the Law on Credit Institutions at the time of application and at the time of completion of the capital contribution or share acquisition.
4. Conditions for capital contribution and share acquisition in respect of other domestic enterprises as prescribed at point b, Clause 1, Article 1 of this Circular:a) The conditions prescribed in Clause 1 of this Article;b) Compliance with the maximum ratio of short-term funds used for medium- and long-term lending as prescribed by the Governor of the State Bank of Vietnam on limits and safety assurance ratios in the operations of banks and foreign bank branches during the 24 consecutive months preceding the month of application and at the time of completion of the capital contribution or share acquisition.
5. Conditions for conversion of debt into contributed capital or share capital as prescribed at point d, Clause 1, Article 1 of this Circular:a) The conditions prescribed at points a, b, c, d, đ and g, Clause 1 of this Article;b) The debt converted into contributed capital or share capital must be a non-performing loan, and the conversion of debt into contributed capital or share capital must be for the purpose of handling the non-performing loan. A non-performing loan is a loan determined in accordance with the regulations of the Governor of the State Bank of Vietnam on classification of assets in the operations of commercial banks, non-bank credit institutions and foreign bank branches.”.

2.11. Circular No. 61/2025/TT-NHNN regulating the operating network of commercial banks

• Name of legal document: Circular No. 61/2025/TT-NHNN dated 31/12/2025 issued by the State Bank of Vietnam regulating the operating network of commercial banks (hereinafter referred to as “Circular No. 61/2025/TT-NHNN”).
• Effective date: 15/02/2026.

The content should be noted: Authority for approval of the operating network of commercial banks.

Specifically, Article 4 of Circular No. 61/2025/TT-NHNN stipulates: “Article 4. Authority for approval of the operating network of commercial banks

1. The Governor of the State Bank of Vietnam shall consider approving the establishment, termination of operation, dissolution (except for voluntary termination of operation) of domestic branches; the establishment of overseas branches, representative offices, subsidiary banks; and the conversion of the legal form of overseas subsidiary banks of commercial banks.
2. The Director General of the Department of Credit Institutions Supervision and Regulation shall consider approving the establishment, termination of operation, dissolution (except for voluntary termination of operation) of transaction offices, representative offices, and public service units in the country by commercial banks.
3. The Director of the Regional Branch of the State Bank of Vietnam shall consider approving:a) Change of location of branch headquarters and transaction offices;b) Voluntary termination of operation of branches and transaction offices.
4. In certain specific cases, the Governor of the State Bank of Vietnam shall consider deciding on approval:a) Establishment of domestic branches, representative offices, public service units, transaction offices; overseas branches, representative offices, subsidiary banks of commercial banks on the basis of dossiers and procedures in accordance with this Circular and suitable to actual conditions in order to:

(i) Serve the objectives of socio-economic development, politics, security, national defense, diplomacy and monetary policy administration in each period;

(ii) Support commercial banks in participating in the handling of people’s credit funds under special control;

b) Conversion of transaction offices into domestic branches of commercial banks on the basis of dossiers, conditions, order and procedures for establishment of domestic branches as prescribed in this Circular, suitable to actual conditions in order to implement restructuring plans of credit institutions approved by competent authorities;

c) Matters relating to the operating network of commercial banks to implement restructuring plans of commercial banks under special control that have been approved, on the basis of dossiers and procedures prescribed in this Circular.”

2.12. Circular No. 66/2025/TT-NHNN providing amendments and supplements to a number of articles of Circular No. 34/2024/TT-NHNN regulating the re-issuance of licenses, addition of business activities to licenses, and the organization and operation of commercial banks, branches of foreign banks, and representative offices in Vietnam of foreign credit institutions and other foreign organizations engaging in banking activities

• Name of legal document: Circular No. 66/2025/TT-NHNN dated 31/12/2026 issued by the State Bank of Vietnam providing amendments and supplements to a number of articles of Circular No. 34/2024/TT-NHNN regulating the re-issuance of licenses, addition of business activities to licenses, and the organization and operation of commercial banks, branches of foreign banks, and representative offices in Vietnam of foreign credit institutions and other foreign organizations engaging in banking activities (hereinafter referred to as “Circular No. 66/2025/TT-NHNN”).
• Effective date: 15/02/2026.

The content should be noted: Competence to decide on the re-issuance of Licenses and the addition of business activities to Licenses.

Specifically, Article 1 of Circular No. 66/2025/TT-NHNN stipulates: “Article 1. Amendments and supplements to Article 3

Article 3. Competence to decide on the re-issuance of Licenses and the addition of business activities to Licenses

1. The Governor of the State Bank of Vietnam has the competence to decide on the re-issuance of Licenses or the addition of business activities to Licenses concurrently with the re-issuance of Licenses for commercial banks and branches of foreign banks that are subjects of micro-prudential supervision by the Credit Institutions Supervision and Regulation Department.
2. The Director General of the Credit Institutions Supervision and Regulation Department has the competence to decide on the addition of business activities to Licenses for commercial banks and branches of foreign banks that are subjects of micro-prudential supervision by the Credit Institutions Supervision and Regulation Department.
3. The Director of the State Bank of Vietnam Regional Branch (hereinafter referred to as the Director of the State Bank of Vietnam Branch) has the competence to decide on:a) The re-issuance of Licenses or the addition of business activities to Licenses or the addition of business activities to Licenses concurrently with the re-issuance of Licenses for branches of foreign banks headquartered in provinces or centrally-run cities, except for branches of foreign banks specified in Clause 1 of this Article;b) Amendments and supplements to Licenses for foreign representative offices headquartered in provinces or centrally-run cities.”.”

2.13. Circular No. 69/2025/TT-NHNN providing amendments and supplements to a number of articles of several circulars of the Governor of the State Bank of Vietnam in the field of banking management and supervision related to the reduction of business conditions and the simplification of administrative procedures

• Name of legal document: Circular No. 69/2025/TT-NHNN dated 31/12/2025 issued by the State Bank of Vietnam providing amendments and supplements to a number of articles of several circulars of the Governor of the State Bank of Vietnam in the field of banking management and supervision related to the reduction of business conditions and the simplification of administrative procedures (hereinafter referred to as “Circular No. 69/2025/TT-NHNN”).
• Effective date: 15/02/2026.

The content should be noted: Subjects, purposes and principles of issuance of bonds and special bonds.

Specifically, Article 16 of Circular No. 69/2025/TT-NHNN stipulates: “Article 16. Amendments and supplements to Article 7

“Article 7. Conditions for establishment of branches

1. A non-bank credit institution having an operating period of 12 months or more (calculated from the date of commencement of operations to the time of application) is permitted to establish no more than 03 branches in 01 financial year upon satisfying the following conditions:a) Profitable business operations according to the audited consolidated financial statements and separate financial statements of the year immediately preceding the year of application. This condition shall not apply to a non-bank credit institution submitting the application dossier in the second year from the date of commencement of operations;b) At the time of application, it is not subject to a measure imposed by a competent authority prohibiting the expansion of its operating area;c) The ratio of non-performing loans to total outstanding loans as at 31 December of the year immediately preceding the year of application and at the time of application does not exceed 4% or another ratio as decided by the Governor in each period;d) At the time of application, the non-bank credit institution has an adequate number and structure of the Board of Directors, Members’ Council and Supervisory Board; has an internal audit unit and an internal control system in compliance with the Law on Credit Institutions and the guidance of the State Bank of Vietnam, and is not lacking a General Director;đ) Has regulations on network management in accordance with Article 6 of this Circular;e) Has a branch establishment plan.
2. A non-bank credit institution having an operating period of less than 12 months (calculated from the date of commencement of operations to the time of application) is permitted to establish no more than 02 branches upon satisfying the following conditions:a) The ratio of non-performing loans to total outstanding loans as at the last day of the month immediately preceding the month of application does not exceed 4% or another ratio as decided by the Governor in each period;b) The provisions specified at points b, d, đ and e clause 1 of this Article.”.”.

2.14. Decision No. 115/QD-NHNN on the announcement of new, amended, supplemented, replaced and abolished administrative procedures in the field of establishment and operation of banks implemented at the One-Stop Shop under the management authority of the State Bank of Vietnam

• Name of legal document: Decision No. 115/QD-NHNN dated 26/01/2026 issued by the State Bank of Vietnam on the announcement of new, amended, supplemented, replaced and abolished administrative procedures in the field of establishment and operation of banks implemented at the One-Stop Shop under the management authority of the State Bank of Vietnam (hereinafter referred to as “Decision No. 115/QD-NHNN”).
• Effective date: 15/02/2026.

The content should be noted: Promulgation of a new Procedure for approval of satisfaction of conditions for commencement of operation of domestic branches and transaction offices of commercial banks as listed in Section I.I.1 of the amended and supplemented administrative procedures in the field of establishment and operation of banks under the management authority of the State Bank of Vietnam promulgated together with Decision No. 115/QD-NHNN.

2.15. Circular No. 67/2025/TT-NHNN providing for the abolition of a number of legal normative documents promulgated by the Governor of the State Bank of Vietnam

• Name of legal document: Circular No. 67/2025/TT-NHNN dated 31/12/2025 issued by the State Bank of Vietnam providing for the abolition of a number of legal normative documents promulgated by the Governor of the State Bank of Vietnam (hereinafter referred to as “Circular No. 67/2025/TT-NHNN”).
• Effective date: 16/02/2026.

The content should be noted: Complete abolition of 18 legal normative documents.

Specifically, Article 1 of Circular No. 67/2025/TT-NHNN stipulates: “Article 1. Complete abolition of 18 legal normative documents

The following 18 legal normative documents promulgated by the Governor of the State Bank of Vietnam are completely abolished:

1. Decision No. 96/1997/QD-NH2 dated 19 April 1997 of the Governor of the State Bank of Vietnam on the promulgation of the form of cash withdrawal slip.
2. Decision No. 353/1997/QD-NHNN2 dated 22 October 1997 of the Governor of the State Bank of Vietnam promulgating the “Regulation on electronic funds transfer”.
3. Decision No. 543/2002/QD-NHNN dated 29 May 2002 of the Governor of the State Bank of Vietnam promulgating regulations on the development, issuance, management and use of electronic signatures on electronic vouchers in interbank electronic payment.
4. Decision No. 674/2002/QD-NHNN dated 27 June 2002 of the Governor of the State Bank of Vietnam permitting 06 (six) units of the State Bank of Vietnam to directly participate in the interbank electronic payment system to use interbank settlement accounts for recording fund transfer transactions among themselves through the interbank electronic payment system.

…”.

2.16. Circular No. 74/2025/TT-NHNN providing for amendments and supplements to a number of articles of Circular No. 14/2018/TT-NHNN guiding the implementation of monetary policy instrument management measures to support credit institutions in lending for agricultural and rural development

• Name of legal document: Circular No. 74/2025/TT-NHNN dated 31/12/2025 issued by the State Bank of Vietnam providing for amendments and supplements to a number of articles of Circular No. 14/2018/TT-NHNN guiding the implementation of monetary policy instrument management measures to support credit institutions in lending for agricultural and rural development (hereinafter referred to as “Circular No. 74/2025/TT-NHNN”).
• Effective date: 16/02/2026.

The content should be noted: Amendments and supplements to the rights and obligations of credit institutions.

Specifically, Article 4 of Circular No. 74/2025/TT-NHNN stipulates: “Article 4. Amendment and supplementation of Clause 3 Article 5

“3. To report and take responsibility for the accuracy, completeness, legality and validity of data on total outstanding credit balance and outstanding credit balance for the agricultural and rural sector as the basis for applying the supporting required reserve ratio provided for in this Circular; to provide written explanations of such data in case of receiving a written request for explanation from the State Bank of Vietnam (Department of Credit for Economic Sectors).”.”

2.17. Decision No. 82/QD-NHNN on the announcement of amended and supplemented administrative procedures in the field of establishment and operation of banks implemented at the One-Stop Shop under the management authority of the State Bank of Vietnam

• Name of legal document: Decision No. 82/QD-NHNN dated 20/01/2026 issued by the State Bank of Vietnam on the announcement of amended and supplemented administrative procedures in the field of establishment and operation of banks implemented at the One-Stop Shop under the management authority of the State Bank of Vietnam (hereinafter referred to as “Decision No. 82/QD-NHNN”).
• Effective date: 16/02/2026.

The content should be noted: Amendment and supplementation of the Procedure for re-issuance of the License for establishment and operation of People’s Credit Funds as listed in Part I.4 of the amended and supplemented administrative procedures in the field of establishment and operation of banks under the management authority of the State Bank of Vietnam promulgated together with Decision No. 82/QD-NHNN.

2.18. Decision No. 84/QD-NHNN on the announcement of amended and supplemented administrative procedures in the field of monetary activities implemented at the One-Stop Shop under the management authority of the State Bank of Vietnam

• Name of legal document: Decision No. 84/QD-NHNN dated 21/01/2026 issued by the State Bank of Vietnam on the announcement of amended and supplemented administrative procedures in the field of monetary activities implemented at the One-Stop Shop under the management authority of the State Bank of Vietnam (hereinafter referred to as “Decision No. 84/QD-NHNN”).
• Effective date: 16/02/2026.

The content should be noted: Amendment and supplementation of the Application for applying the supportive required reserve ratio of credit institutions as listed in Part I.1 of the amended and supplemented administrative procedures in the field of monetary activities under the management authority of the State Bank of Vietnam promulgated together with Decision No. 84/QD-NHNN.

1. Legal documents are issued in 12/2025

1.1. Consolidated Document No. 28/VBHN-NHNN on payment agency activities

• Name of legal document: Consolidated Document No. 28/VBHN-NHNN issued on 08/12/2025 by the State Bank of Vietnam on payment agency activities.
• Consolidation date: 08/12/2025.

The content should be noted: This document consolidates Circular No. 07/2024/TT-NHNN dated 21/6/2024 of the Governor of the State Bank of Vietnam on payment agency activities; Circular No. 06/2025/TT-NHNN dated 30/5/2025 of the Governor of the State Bank of Vietnam amending and supplementing Clause 7 Article 7 of Circular No. 07/2024/TT-NHNN dated 21/6/2024 on payment agency activities; and Circular No. 44/2025/TT-NHNN dated 18/11/2025 of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 07/2024/TT-NHNN on payment agency activities.

1.2. Consolidated Document No. 29/VBHN-NHNN on the provision of intermediary payment services

• Name of legal document: Consolidated Document No. 29/VBHN-NHNN issued on 08/12/2025 by the State Bank of Vietnam on the provision of intermediary payment services.
• Consolidation date: 08/12/2025.

The content should be noted: This document consolidates Circular No. 40/2024/TT-NHNN issued on 17/07/2024 of the Governor of the State Bank of Vietnam on the provision of intermediary payment services and Circular No. 41/2025/TT-NHNN issued on 05/11/2025 of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 40/2024/TT-NHNN on the provision of intermediary payment services.

1.3. Decision No. 1814/QD-KTNN on promulgating guidance on the risk-based audit approach and the determination of materiality in audits of banks’ financial statements

• Name of legal document: Decision No. 1814/QD-KTNN issued on 16/12/2025 by the State Auditor General on promulgating guidance on the risk-based audit approach and the determination of materiality in audits of banks’ financial statements (hereinafter referred to as “Decision No. 1814/QD-KTNN”).
• Effective date: 16/12/2025.

The content should be noted: Identification and assessment of the risks of material misstatement.

Specifically, Article 3 of the Guidance on the risk-based audit approach and the determination of materiality in audits of banks’ financial statements promulgated together with Decision No. 1814/QD-KTNN provides as follows: “Article 3. Identification and assessment of the risks of material misstatement

1. Based on information on banks and other credit institutions (hereinafter collectively referred to as banks) collected from the survey outline for information collection and other information-gathering methods (interviews, requests for document submission, discussions with the audited entity, mass media, etc.), information from other relevant entities (banking regulators, customers having credit relationships with banks, etc.), and information from previous audits (if any), State Auditors shall assess inherent risk and control risk in accordance with the banks’ operational conditions in order to design appropriate audit procedures to achieve audit objectives.
2. State Auditors shall identify and assess the risks of material misstatement at the level of banks’ financial statements and at the assertion level (transaction classes, account balances, and disclosures). State Auditors shall refer to the method for determining the level of risks of material misstatement provided in Appendix No. 01/RRTY-NH enclosed with this Guidance to draw conclusions on the risks of material misstatement. Certain risk indicators to be noted in the assessment include:a) Risks of material misstatement at the financial statement level

• • Risks arising from banks’ fields of operation; or changes in organizational structure and operational characteristics of banks, such as restructuring/reorganization of banks, or changes in the scope and fields of operation of banks;
  • New legal regulations and policies related to banking operations, such as preferential credit programs, capital mobilization regulations, interest rate subsidy programs, regulations on loan classification and provisioning for credit risk, or risks arising from the external business environment (objective and force majeure factors such as natural disasters and epidemics affecting banks’ operations and services);
  • Complex internal control systems and geographically dispersed operations; changes or shortages in senior management personnel; supervisory, control, and internal audit staff lacking appropriate professional qualifications; inspection and control activities that are infrequent or ineffective; management override of internal controls (interference with information technology systems, data collection and processing, accounting and preparation of banks’ financial statements, adjustment of ratios and amounts of credit risk provisions); information technology governance creating vulnerabilities or being inconsistent with banks’ characteristics and business processes;b) Risks of material misstatement at the assertion level

• • Income items: Recognition of income in incorrect periods (under-recognition of accrued interest, failure to allocate guarantee fees/letters of credit issuance fees, etc.); failure to recognize income from payment services; income relating to liabilities with unidentified creditors;
  • Expense items: Inappropriate calculation and recognition of provision expenses due to loan reclassification, increase/decrease in ratios/values of deductible collateral; payment of interest on mobilized capital and operating expenses not in compliance with regulations;
  • Tax and amounts payable to the State: Under-declaration and under-recognition of taxes and amounts payable to the State (incorrect application of tax rates, improper declaration of deductible VAT, failure to exclude non-business-related expenses incurred during the period when calculating corporate income tax);
  • Financial investment items: Failure to maintain detailed tracking of each type of security and each capital contribution investment by banks in finance companies/other enterprises; provisioning not in accordance with regulations;
  • Customer loan items: Improper loan classification and credit risk provisioning in violation of State Bank of Vietnam regulations and banks’ internal regulations; inappropriate determination of ratios/values of deductible collateral; improper debt handling;
  • Fixed assets (FA) and tools and equipment (TE): Recognition of fixed assets that do not meet recognition criteria; untimely capitalization of fixed assets; inaccurate depreciation; inappropriate classification between fixed assets and tools and equipment; improper allocation of tool and equipment costs.”

1.4. Decision No. 3925/QD-NHNN on the standardization of the list of administrative procedures within the scope of the State Bank of Vietnam’s management functions

• Name of legal document: Decision No. 3925/QD-NHNN issued on 16/12/2025 on the standardization of the list of administrative procedures within the scope of the State Bank of Vietnam’s management functions.
• Effective date: 16/12/2025.

The content should be noted: Abolition of the procedure for reporting newly issued card service fee schedules or amendments and supplements thereto, as listed in the Appendix on the list of abolished administrative procedures in the fields of banking establishment and operation, monetary activities, credit activities, and payment activities within the scope of the State Bank of Vietnam’s management functions promulgated together with Decision No. 3925/QD-NHNN.

1.5. Decision No. 3937/QD-NHNN on the promulgation of the list of administrative procedures under the management scope of the State Bank of Vietnam eligible for online public service provision on the National Public Service Portal

• Name of legal document: Decision No. 3937/QD-NHNN issued on 17/12/2025 by the State Bank of Vietnam on the promulgation of the list of administrative procedures under the management scope of the State Bank of Vietnam eligible for online public service provision on the National Public Service Portal.
• Effective date: 17/12/2025.

The content should be noted: Promulgation of the procedure for application for issuance of a bank card issuer identification number (hereinafter referred to as the “BIN”), as listed in the Appendix on the list of administrative procedures under the management scope of the State Bank of Vietnam eligible for online public service provision on the National Public Service Portal promulgated together with Decision No. 3937/QD-NHNN.

1.6. Decree No. 324/2025/ND-CP on financial policies applicable to international financial centers in Vietnam

• Name of legal document: Decree No. 324/2025/ND-CP issued on 18/12/2025 by the Government on financial policies applicable to international financial centers in Vietnam (hereinafter referred to as “Decree No. 324/2025/ND-CP”).
• Effective date: 18/12/2025.

The content should be noted: Financial regime applicable to Members operating in the banking sector.

Specifically, Article 12 of Decree No. 324/2025/ND-CP provides as follows: “Article 12. Financial regime applicable to Members operating in the banking sector

Single-member limited liability commercial banks and branches of foreign banks that are Members may, at their option, apply the financial regime currently applied under the policies of the owner or the parent bank, or implement the financial regime in accordance with Decree No. 135/2025/ND-CP dated 12/6/2025 of the Government on the financial regime applicable to credit institutions and branches of foreign banks and on financial supervision and evaluation of the effectiveness of state capital investment in credit institutions wholly owned by the State and credit institutions with state capital, and the amending, supplementing, or replacing documents thereof (if any).”

1.7. Decree No. 329/2025/ND-CP on licensing of the establishment and operation of banks, foreign exchange management, anti-money laundering, counter-terrorist financing, and countering the financing of the proliferation of weapons of mass destruction at international financial centers in Vietnam

• Name of legal document: Decree No. 329/2025/ND-CP issued on 18/12/2025 by the Government on licensing of the establishment and operation of banks, foreign exchange management, anti-money laundering, counter-terrorist financing, and countering the financing of the proliferation of weapons of mass destruction at international financial centers in Vietnam (hereinafter referred to as “Decree No. 329/2025/ND-CP”).
• Effective date: 18/12/2025.

The content should be noted: Responsibilities of member banks in protecting customers’ rights and interests.

Specifically, Article 5 of Decree No. 329/2025/ND-CP provides as follows: “Article 5. Responsibilities of member banks in protecting customers’ rights and interests

Facilitating customers in depositing and withdrawing funds; ensuring full and timely payment of the principal and interest of deposits in accordance with agreements and in compliance with applicable laws; and not being required to participate in deposit insurance in accordance with the Law on Deposit Insurance of Vietnam. Other responsibilities of member banks in protecting customers’ rights and interests shall be implemented in accordance with Article 10 of the Law on Credit Institutions.”

1.8. Consolidated Document No. 30/VBHN-NHNN consolidating Circulars on banking card activities

• Name of legal document: Consolidated Document No. 30/VBHN-NHNN issued on 19/12/2025 by the State Bank of Vietnam consolidating Circulars on banking card activities (hereinafter referred to as “Consolidated Document No. 30/VBHN-NHNN”).
• Consolidation date: 19/12/2025.

The content should be noted: This document consolidates Circular No. 18/2024/TT-NHNN issued on 28/06/2024 of the Governor of the State Bank of Vietnam on banking card activities and Circular No. 45/2025/TT-NHNN issued on 19/11/2025 of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 18/2024/TT-NHNN on banking card activities.

1.9. Decision No. 3955/QD-NHNN on the promulgation of newly issued administrative procedures in the field of banking information technology activities implemented at the one-stop shop under the management authority of the State Bank of Vietnam

• Name of legal document: Decision No. 3955/QD-NHNN dated 19/12/2025 of the State Bank of Vietnam on the promulgation of newly issued administrative procedures in the field of banking information technology activities implemented at the one-stop shop under the management authority of the State Bank of Vietnam.
• Effective date: 15/01/2026.

The content should be noted: Promulgation of the Procedure for requesting the establishment, modification, or termination of connection to the computer network of the State Bank of Vietnam, as listed in Section I.A.1 of the newly issued administrative procedures in the field of banking information technology activities under the management authority of the State Bank of Vietnam promulgated together with Decision No. 3955/QD-NHNN.

1.10. Circular No. 49/2025/TT-NHNN providing for dossiers and procedures for approval of changes of non-bank credit institutions

• Name of legal document: Circular No. 49/2025/TT-NHNN dated 23/12/2025 of the State Bank of Vietnam providing for dossiers and procedures for approval of changes of non-bank credit institutions (hereinafter referred to as “Circular No. 49/2025/TT-NHNN”).
• Effective date: 06/02/2026.

The content should be noted: Increase of charter capital of limited liability non-bank credit institutions.

Specifically, Article 9 of Circular No. 49/2025/TT-NHNN provides as follows: “Article 9. Increase of charter capital of limited liability non-bank credit institutions

1. Application dossier shall include:a) A written request for approval of the increase of charter capital and for amendment and supplementation of the License in relation to the increase of charter capital of the non-bank credit institution;b) A document of the competent authority approving the charter capital increase plan of the non-bank credit institution, which shall at least include the following contents:

(i) Reasons for and necessity of the charter capital increase;

(ii) Current charter capital and proposed amount of additional charter capital;

(iii) Expected phases of charter capital increase during the year and sources for increasing charter capital;

(iv) Expected timeline for completion of the charter capital increase;

(v) Expected balance sheets and business performance statements for three (03) consecutive years following the charter capital increase; expected plan for use of the increased charter capital in business operations;

(vi) Capacity for governance, management, and risk control corresponding to the new charter capital scale;

c) An explanatory document of the non-bank credit institution, certified by an auditing organization, regarding the impact of qualified audit opinions on the conditions for capital increase (in cases where the audited financial statements contain qualified opinions);

d) In case the charter capital is increased through additional capital contribution by the owner or capital-contributing members, in addition to the dossiers specified at Points a, b, and c of this Clause, the non-bank credit institution shall submit the following additional documents:

(i) A commitment on the use of lawful funds of the owner or capital-contributing members for additional capital contribution;

(ii) A written confirmation from a Vietnamese commercial bank certifying the contributed capital amount of the owner or capital-contributing members or capital contribution from new capital-contributing members;

(iii) Audited financial statements of the owner or capital-contributing members for the fiscal year immediately preceding the year of application for charter capital increase, audited by an independent auditing organization in accordance with law (except where the owner or capital-contributing member is a Vietnamese credit institution). Where audited financial statements are not yet available at the time of dossier submission, unaudited financial statements shall be submitted and audited financial statements shall be submitted immediately after issuance by the auditing organization, and the applicant shall be responsible for the contents of the submitted financial statements;

đ) In case the charter capital is increased through capital contribution by new capital-contributing members, in addition to the dossiers specified at Points a, b, c, d(i), and d(ii) of this Clause, the non-bank credit institution shall submit the dossier of the new capital-contributing members in accordance with the requirements applicable to founding members establishing a non-bank credit institution under relevant laws;

e) In case the charter capital is increased from undistributed profits and other funds in accordance with law, in addition to the dossiers specified at Points a, b, and c of this Clause, the non-bank credit institution shall provide information on the reserve fund for charter capital supplementation, undistributed profits, and other funds as determined based on the independent audit results; and information on the amounts from such funds used for the charter capital increase.

2. Approval procedures:

a) The non-bank credit institution shall prepare and submit the dossier to the State Bank of Vietnam. Where the dossier is incomplete or invalid, within ten (10) days from the date of receipt, the State Bank of Vietnam shall issue a written request for supplementation of the dossier;

b) Within thirty (30) days from the date of receipt of a complete and valid dossier, the State Bank of Vietnam shall issue a decision to amend and supplement the License; in case the License is not amended or supplemented, the State Bank of Vietnam shall issue a written response stating the reasons.”

1.11. Circular No. 50/2025/TT-NHNN providing for dossiers and procedures for approval of certain changes of commercial banks and branches of foreign banks

• Name of legal document: Circular No. 50/2025/TT-NHNN dated 24/12/2025 of the State Bank of Vietnam providing for dossiers and procedures for approval of certain changes of commercial banks and branches of foreign banks (hereinafter referred to as “Circular No. 50/2025/TT-NHNN”).
• Effective date: 07/02/2026.

The content should be noted: Change of name of commercial banks and branches of foreign banks.

Specifically, Article 5 of Circular No. 50/2025/TT-NHNN provides as follows: “Article 5. Change of name

1. Application dossier shall include:a) A written request, which shall at least include the following contents:

(i) Current name;

(ii) Proposed new name, ensuring compliance with relevant laws and regulations on naming;

(iii) Reasons for the change of name;

(iv) Number and date of the resolution or decision of the General Meeting of Shareholders, in respect of a joint stock commercial bank, approving the change of the bank’s name;

b) A resolution or decision of the Members’ Council, in respect of a limited liability commercial bank, approving the change of the bank’s name; a written approval of the parent bank approving the change of name of the branch of a foreign bank in Vietnam.

2. Approval procedures:

a) The commercial bank or branch of a foreign bank shall prepare the dossier in accordance with Clause 1 of this Article and submit it to the State Bank of Vietnam. Where the dossier is incomplete or invalid, within seven (07) working days from the date of receipt, the State Bank of Vietnam shall issue a written request for supplementation and completion of the dossier;

b) Within twenty-five (25) working days from the date of receipt of a complete and valid dossier, the State Bank of Vietnam shall approve the change of name of the commercial bank or branch of the foreign bank and issue a decision amending the License; in case of refusal, the State Bank of Vietnam shall issue a written response clearly stating the reasons.”

1.12. Decree No. 340/2025/ND-CP providing for administrative sanctions in the field of monetary and banking activities

• Name of legal document: Decree No. 340/2025/ND-CP dated 25/12/2025 of the Government providing for administrative sanctions in the field of monetary and banking activities (hereinafter referred to as “Decree No. 340/2025/ND-CP”).
• Effective date: 09/02/2025.

The content should be noted: Violations of regulations on licenses issued by the State Bank of Vietnam and prohibited acts

Specifically, Article 7 of Decree No. 340/2025/ND-CP provides: “Article 7. Violations of regulations on licenses issued by the State Bank of Vietnam and prohibited acts

1. A fine ranging from VND 20,000,000 to VND 40,000,000 shall be imposed for using the organizational name stated on documents and papers in operations that is inconsistent with the organizational name stated in the license.
2. A fine ranging from VND 40,000,000 to VND 50,000,000 shall be imposed for failure to meet or maintain full compliance with the requirements for commencement of operations of domestic branches or transaction offices of credit institutions.
3. A fine ranging from VND 50,000,000 to VND 100,000,000 shall be imposed for failure to fully comply with the conditions for commencement of operations as prescribed in the Law on Credit Institutions.
4. A fine ranging from VND 100,000,000 to VND 150,000,000 shall be imposed for one of the following violations:a) Borrowing, lending, leasing, subleasing, purchasing, selling, or transferring a license, except for the case prescribed at Point b Clause 4 Article 31 of this Decree;b) Erasing or altering a license resulting in changes to its contents without reaching the threshold for criminal prosecution, except for the case prescribed at Point b Clause 4 Article 31 of this Decree.
5. A fine ranging from VND 150,000,000 to VND 200,000,000 shall be imposed for one of the following violations:a) Fraudulent acts in documents proving eligibility for license issuance in the application dossier without reaching the threshold for criminal prosecution, except for the cases prescribed at Clause 2 Article 22 and Point a Clause 4 Article 31 of this Decree;b) Conducting operations inconsistent with the contents stated in the license, except for the cases prescribed at Clause 1, Point b Clause 6 of this Article; Clause 6 Article 21; Point c Clause 8 Article 27; Point c, Point d Clause 5, Point a Clause 6 Article 28; Point d Clause 4 Article 31 of this Decree;c) A transaction office carrying out activities that it is not permitted to perform under the law on the operational network of commercial banks.
6. A fine ranging from VND 300,000,000 to VND 400,000,000 shall be imposed for one of the following violations:a) Continuing operations after a competent authority has applied restrictive, suspension, or temporary suspension measures in accordance with the Law on the State Bank of Vietnam;b) Conducting banking activities or other business activities beyond the scope stated in the license, except for the case prescribed at Point d Clause 4 Article 8 of this Decree.
7. A fine ranging from VND 400,000,000 to VND 500,000,000 shall be imposed for one of the following violations:a) Conducting banking activities without a license, except for the cases prescribed at Point c Clause 8 Article 27; Point d, Point e Clause 5, Clause 8 Article 28; Clause 6 Article 31 of this Decree;b) Violating regulations on the use of terms related to banking activities in accordance with the Law on Credit Institutions;c) Illegally interfering in banking activities or other business activities of credit institutions or foreign bank branches;d) Violating regulations on tying the sale of non-mandatory insurance products to the provision of banking products or services in any form in accordance with the Law on Credit Institutions.
8. Remedial measures:a) Mandatory remittance to the state budget of illicit profits obtained from violations prescribed at Clause 4, Points a and b Clause 5, Clause 6, and Point a Clause 7 of this Article;b) Requesting competent authorities to revoke licenses for violations prescribed at Points a and b Clause 5 and Point a Clause 6 of this Article;c) Considering, proposing, or requesting competent authorities to apply suspension measures from 01 month to 03 months or to dismiss individuals from managerial, executive, or supervisory positions; prohibiting individuals from holding managerial, executive, or supervisory positions at credit institutions or foreign bank branches for violations prescribed at Clause 4, Points a and b Clause 5, Clause 6, and Point a Clause 7 of this Article.

Considering and requesting credit institutions or foreign bank branches to dismiss individuals and apply other handling measures in accordance with law for individuals under the authority of the credit institutions or foreign bank branches.

d) Requiring the return of licenses that have been erased or altered, resulting in distorted contents, to the competent authority that issued the license for violations prescribed at Point b Clause 4 of this Article;

đ) Requiring the implementation of measures to terminate contracts and bearing all costs and damages arising from the termination of insurance product supply contracts in cases where customers request contract termination for violations prescribed at Point d Clause 7 of this Article.”

1.13. Decision No. 4033/QD-NHNN on the correction of Circular No. 52/2025/TT-NHNN dated 25/12/2025 of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 39/2016/TT-NHNN dated 30/12/2016 of the Governor of the State Bank of Vietnam regulating lending activities of credit institutions and foreign bank branches to customers

• Name of legal document: Decision No. 4033/QD-NHNN dated 25/12/2025 of the State Bank of Vietnam on the correction of Circular No. 52/2025/TT-NHNN dated 25/12/2025 of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 39/2016/TT-NHNN dated 30/12/2016 of the Governor of the State Bank of Vietnam regulating lending activities of credit institutions and foreign bank branches to customers (hereinafter referred to as “Decision No. 4033/QD-NHNN”).
• Effective date: 25/12/2025.

The content should be noted: Technical correction.

Specifically, Article 1 of Decision No. 4033/QD-NHNN provides: “Article 1. Correction of a technical error in Article 1 of Circular No. 52/2025/TT-NHNN dated 25/12/2025 of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 39/2016/TT-NHNN dated 30/12/2016 of the Governor of the State Bank of Vietnam regulating lending activities of credit institutions and foreign bank branches to customers, as follows:

The phrase “working day” is corrected to “day”.”

1.14. Circular No. 51/2025/TT-NHNN amending and supplementing a number of articles of Circular No. 16/2021/TT-NHNN dated 10/11/2021 of the Governor of the State Bank of Vietnam regulating the purchase and sale of corporate bonds by credit institutions and foreign bank branches

• Name of legal document: Circular No. 51/2025/TT-NHNN dated 25/12/2025 of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 16/2021/TT-NHNN dated 10/11/2021 of the Governor of the State Bank of Vietnam regulating the purchase and sale of corporate bonds by credit institutions and foreign bank branches (hereinafter referred to as “Circular No. 51/2025/TT-NHNN”).
• Effective date: 25/12/2025.

The content should be noted: Amendments and supplements to internal regulations.

Specifically, Article 1 of Circular No. 51/2025/TT-NHNN provides: “Article 1. Amendment and supplementation of Clause 4 Article 6

“4. Based on the provisions of this Circular and other relevant laws, within 10 (ten) working days from the date the credit institution promulgates, amends, or supplements its internal regulations on the purchase and sale of corporate bonds:

a) The credit institution shall submit its internal regulations to the State Bank of Vietnam (the Agency for Banking Supervision and Inspection), except for the case specified at point b of this Clause;

b) Credit institutions subject to micro-prudential inspection and supervision by the regional branches of the State Bank of Vietnam shall submit their internal regulations to the respective regional branches of the State Bank of Vietnam.”.”

1.15. Circular No. 59/2025/TT-NHNN regulating the provision and use of specialized electronic signatures and specialized electronic signature certificates of the State Bank of Vietnam

• Name of legal document: Circular No. 59/2025/TT-NHNN dated 29/12/2025 of the State Bank of Vietnam regulating the provision and use of specialized electronic signatures and specialized electronic signature certificates of the State Bank of Vietnam (hereinafter referred to as “Circular No. 59/2025/TT-NHNN”).
• Effective date: 01/03/2026.

The content should be noted: Contents of electronic signature certificates.

Specifically, Article 5 of Circular No. 59/2025/TT-NHNN provides: “Article 5. Contents of electronic signature certificates

Electronic signature certificates issued by the State Bank of Vietnam include the following contents:

1. Name of the State Bank of Vietnam.
2. Name of the subscriber.
3. Identification of the subscriber.
4. Serial number of the electronic signature certificate.
5. Validity period of the electronic signature certificate.
6. Data used to verify the electronic signature of the agency, organization, or individual granted the electronic signature certificate.
7. Electronic signature of the State Bank of Vietnam.
8. Purpose and scope of use of the electronic signature certificate.
9. Legal responsibilities of the State Bank of Vietnam.”

1.16. Decision No. 4062/QĐ-NHNN regulating the promulgation of amended and supplemented administrative procedures in the field of establishment and banking operations implemented at the one-stop-shop unit within the scope of management functions of the State Bank of Vietnam

• Name of legal document: Decision No. 4062/QĐ-NHNN dated 30/12/2025 of the State Bank of Vietnam regulating the promulgation of amended and supplemented administrative procedures in the field of establishment and banking operations implemented at the one-stop-shop unit within the scope of management functions of the State Bank of Vietnam.
• Effective date: 29/01/2026.

The content should be noted: Amendment and supplementation of the procedure for approval of overseas listing of shares on foreign securities markets of joint-stock credit institutions as listed in Part I.A.1 of the amended and supplemented administrative procedures in the field of establishment and banking operations within the scope of management functions of the State Bank of Vietnam promulgated together with Decision No. 4062/QĐ-NHNN.

1.17. Circular No. 61/2025/TT-NHNN regulating the operational network of commercial banks

• Name of legal document: Circular No. 61/2025/TT-NHNN dated 31/12/2025 of the State Bank of Vietnam regulating the operational network of commercial banks (hereinafter referred to as “Circular No. 61/2025/TT-NHNN”).
• Effective date: 15/02/2026.

The content should be noted: Competence to approve matters related to the operational network of commercial banks.

Specifically, Article 4 of Circular No. 61/2025/TT-NHNN provides: “Article 4. Competence to approve the operational network of commercial banks

1. The Governor of the State Bank of Vietnam shall consider and approve the establishment, termination of operations, dissolution (except for voluntary termination of operations) of domestic branches; the establishment of overseas branches, representative offices, and subsidiary banks; and the conversion of the legal form of overseas subsidiary banks of commercial banks.
2. The Director General of the Agency for Banking Supervision and Inspection shall consider and approve the establishment, termination of operations, dissolution (except for voluntary termination of operations) of domestic transaction offices, representative offices, and public service units of commercial banks.
3. The Director of the Regional Branch of the State Bank of Vietnam shall consider and approve:a) Change of location of branch headquarters and transaction offices;b) Voluntary termination of operations of branches and transaction offices.
4. In certain specific cases, the Governor of the State Bank of Vietnam shall consider and decide to approve:a) The establishment of domestic branches, representative offices, public service units, and transaction offices; and overseas branches, representative offices, and subsidiary banks of commercial banks, based on dossiers and procedures as prescribed in this Circular and in accordance with actual conditions in order to:

(i) Serve objectives of economic, social, political, security, national defense, diplomatic development and monetary policy administration in each period;

(ii) Support commercial banks in participating in the restructuring of people’s credit funds subject to special control;

b) The conversion of a domestic transaction office into a branch of a commercial bank, based on dossiers, conditions, order and procedures for establishment of domestic branches prescribed in this Circular, in accordance with actual conditions in order to implement an approved credit institution restructuring plan;

c) Matters related to the operational network of commercial banks to implement the approved restructuring plan of commercial banks subject to special control, based on dossiers and procedures prescribed in this Circular.”

2. Legal documents are effective in 01/2026

2.1. Law on Personal Data Protection No. 91/2025/QH15

• Name of legal document: Law on Personal Data Protection No. 91/2025/QH15 promulgated on 26/6/2025 by the National Assembly of Vietnam (hereinafter referred to as “Law No. 91/2025/QH15”).
• Effective date: 01/01/2026.

The content should be noted: Personal data protection in finance, banking, and credit information activities.

Specifically, Article 27 of Law No. 91/2025/QH15 provides: “Article 27. Personal data protection in finance, banking, and credit information activities

1. Organizations and individuals operating in finance, banking, and credit information activities shall:a) Comply with regulations on the protection of sensitive personal data and safety and confidentiality standards in finance and banking according to the law;b) Refrain from using personal data subject matters’ credit information to mark, rank, evaluate credit information, or assess creditworthiness without their consent;c) Only collect personal data necessary for credit information activities from sources in conformity with this Law and relevant laws;d) Issue notices to personal data subject matters in case of leakage or loss of information on bank accounts, finance, credit, or credit information.
2. Organizations and individuals engaging in credit information activities shall comply with this Law; apply measures to prevent unauthorized access, use, disclosure, and modification of clients’ personal data; adopt measures to restore clients’ personal data in case it is lost; ensure confidentiality during the collection, provision, and processing of clients’ personal data in service of credit information assessment.
3. The Government of Vietnam shall elaborate on this Article.”

2.2. Circular No. 45/2025/TT-NHNN on amendments to certain Articles of Circular No. 18/2024/TT-NHNN on bank card operations

• Name of legal document: Circular 45/2025/TT-NHNN issued on 19/11/2025 by the State Bank of Vietnam on amendments to certain Articles of Circular No. 18/2024/TT-NHNN on bank card operations (hereinafter referred to as “Circular No. 45/2025/TT-NHNN”).
• Effective date: 05/01/2026.

The content should be noted: Amending and supplementing the total cash withdrawal limit of credit cards

Specifically, Article 6 of Circular No. 45/2025/TT-NHNN provides: “Article 6. Amendments to clause 3 of Article 13

“3. Total monthly cash withdrawal limit for a cardholder by BIN of a credit card is 100 (one hundred) million VND.”.

2.3. Decision No. 4062/QD-NHNN on the promulgation of amended and supplemented administrative procedures in the field of establishment and operation of banks implemented at the one-stop-shop under the management functions of the State Bank of Vietnam

• Name of legal document: Decision No. 4062/QD-NHNN dated 30/12/2025 issued by the State Bank of Vietnam on the promulgation of amended and supplemented administrative procedures in the field of establishment and operation of banks implemented at the one-stop-shop under the management functions of the State Bank of Vietnam.
• Effective date: 29/01/2026.

The content should be noted: Amendment and supplementation of the Procedure for approval of overseas listing of shares on foreign securities markets of joint-stock credit institutions as listed in Section I.A.1 of the amended and supplemented administrative procedures in the field of establishment and operation of banks under the management functions of the State Bank of Vietnam promulgated together with Decision No. 4062/QD-NHNN.

1. Legal documents are issued in 11/2025

1.1. Circular No. 41/2025/TT-NHNN amendment to circular No. 40/2024/TT-NHNN on intermediary payment service

• Name of legal document: Circular N 41/2025/TT-NHNN dated 05/11/2025 amendment to circular No. 40/2024/TT-NHNN on intermediary payment service (referred to as the “Circular No. 41/2025/TT-NHNN”).
• Effective date: 05/11/2025.

The content should be noted: Amendments and supplements relating to the use of e-wallet services.

Specifically, Article 9 of Circular No. 41/2025/TT-NHNN provides: “Article 9. Amendment and repeal of Article 25

1. Repeal Clause 1.
2. Amend Point a and Point b Clause 2:

“a) Withdraw from e-wallet to VND accounts or debit cards associated with VND accounts of e-wallet owners at co-operative banks;

b) Transfer to VND accounts or debit cards associated with VND accounts opened by banks and FBBs with the exception of Point a of this Clause;”

1. Amend Clause 5:

“5. E-wallet service providers are not allowed to receive cash from customers to deposit to e-wallet; let customers from withdrawing cash from e-wallet at e-wallet service providers; grant credit extension to customers using e-wallets; pay interest for e-wallet balance.”

4. Amend Point d Clause 6:

“d) Means for electronic transaction verification are adopted for each type of transaction in payments using electronic means in accordance with regulations of SBV pertaining to safety and security in provision of online services in banking sector.”.”

1.2. Consolidated Document No. 25/VBHN-NHNN on the classification, packaging and delivery of precious metals and gemstones

• Name of legal document: Consolidated Document No. 25/VBHN-NHNN dated 13/11/2025 consolidating regulations on the classification, packaging, and delivery of precious metals and gemstones (referred to as the “Consolidated Document No. 25/VBHN-NHNN”).
• Effective date: 13/11/2025.

The content should be noted: Consolidation of Circular No. 17/2014/TT-NHNN dated 01/08/2014 of Governor of State Bank of Vietnam on the classification, packaging, and delivery of precious metals and gemstones and Circular No. 33/2025/TT-NHNN 30/09/2025 of Governor of State Bank of Vietnam amending and supplementing Circular No. 17/2014/TT-NHNN.

1.3. Consolidated Document No. 26/VBHN-NHNN consolidating regulations on the provision of non-cash payment services

• Name of legal document: Consolidated Document No. 26/VBHN-NHNN dated 13/11/2025 consolidating regulations on non-cash payment services (referred to as the “Consolidated Document No. 26/VBHN-NHNN”).
• Effective date: 13/11/2025.

The content should be noted: Consolidation of Circular No. 15/2024/TT-NHNN dated 28/06/2025 of Governor of State Bank of Vietnam on non-cash payment services and Circular No. 30/2025/TT-NHNN dated 30/09/2025 of Governor of State Bank of Vietnam amending and supplementing Circular No. 15/2024/TT-NHNN.

1.4. Circular No. 43/2025/TT-NHNN amendments to some articles of circular No. 08/2022/TT-NHNN on banking supervision procedures

• Name of legal document: Circular 43/2025/TT-NHNN dated 14/11/2025 amendments to some articles of circular No. 08/2022/TT-NHNN on banking supervision procedures (referred to as the “Circular No. 43/2025/TT-NHNN”).
• Effective date: 01/01/2026.

The content should be noted: Amendments and supplements relating to microprudential supervision of credit institutions and branches of foreign banks.

Specifically, Clause 1 of Article 4 Circular No. 43/2025/TT-NHNN provides: “Article 4. Amendments to some points and clauses of Article 9

1. Points a, b and c clause 1 shall be amended as follows:

“a) Supervision of compliance with statistical reporting regimes, information reporting regimes according to regulations of the Law No. 46/2010/QH12, the Law No. 32/2024/QH15 and relevant guiding documents within the scope of jurisdiction and responsibilities of the micro-prudential supervision unit;

1. b) Supervision of compliance with prudential ratios and limits in the operation of credit institutions and foreign bank branches as prescribed in Articles 134, 135, 136, 137 and 138 of the Law No. 32/2024/QH15; classification of existing assets, making and use of provisions for management of risks to operation of credit institutions and foreign bank branches;
2. c) Supervision of compliance with regulations on satisfaction of conditions and standards applied to managers and executives prescribed in Article 41 and clause 3 Article 98 of the Law No. 32/2024/QH15; and compliance with regulations on organizational structure, administration, management and control by entities subject to supervision as prescribed in Chapter IV of the Law No. 32/2024/QH15;”.”

1.5. Circular No. 44/2025/TT-NHNN amendments to certain articles of circular No. 07/2024/TT-NHNN prescribing operation of payment agents

• Name of legal document: Circular 44/2025/TT-NHNN dated 18/11/2025 amendments to certain articles of circular No. 07/2024/TT-NHNN prescribing operation of payment agents (referred to as the “Circular No. 44/2025/TT-NHNN”).
• Effective date: 03/01/2026.

The content should be noted: Amendments and supplements to the scope of payment agency activities.

Specifically, Article 1 of Circular No. 44/2025/TT-NHNN provides: “Article 1. Amendments to Article 4

“Article 4. Details of payment agent operation

The Principal is entitled to appoint the Agent to perform one or more professional operations below:

1. Receive applications for opening of checking accounts; check legitimacy and validity; carry out cross-check to ensure the consistency and accuracy of documents, information and data provided by clients; verify client identification information in accordance with the instructions of the Principal so as to send it to the Principal and instruct clients to use their checking accounts.
2. Receive applications for issuance of bank cards; check legitimacy and validity; carry out cross-check to ensure the consistency and accuracy of documents, information and data provided by clients; verify client identification information in accordance with the Principal’s instructions so as to send it to the Principal and instruct clients to use their bank cards.
3. Receive clients’ requests for payment services, prepare, sign or apply methods of electronic confirmation of, control and process clients’ transaction documents, transfer clients’ transaction information to the Principal, receive cash from clients or provide cash to clients in order to carry out the following transactions:
4. a) Depositing/withdrawing cash into/from clients’ checking accounts opened at the Principal;
5. b) Depositing/withdrawing cash into/from clients’ debit cards or personalized prepaid cards issued by the Principal;
6. c) Depositing cash to pay clients’ credit cards issued by the Principal;
7. d) Providing payment order execution, collection order execution, money transfer, cash collection and payment services.
8. Within 01 working day from the receipt of the client’s request for payment services, the Agent shall process the client’s transaction document and transfer the client’s transaction information to the Principal, unless any system breakdown and/or other force majeure event results in the client’s transaction not being able to be conducted.”.”

1.6. Circular No. 45/2025/TT-NHNN amending and supplementing a number of articles of Circular No. 18/2024/TT-NHNN on bank card operations

• Name of legal document: Circular No. 45/2025/TT-NHNN dated 19/11/2025 on amending and supplementing a number of articles of Circular No. 18/2024/TT-NHNN on bank card operations (referred to as the “Circular No. 45/2025/TT-NHNN”).
• Effective date: 05/01/2026.

The content should be noted: Amendments and supplements to regulations on card issuance procedures.

Specifically, Clause 1 Article 2 of Circular No. 45/2025/TT-NHNN provides: “Article 2. Amendments and supplements to a number of clauses of Article 9

1. Amend and supplement Clause 2 as follows:

“2. Prior to entering into a card issuance and usage agreement at the request of the customer, the Card Issuer shall require the cardholder to provide sufficient documents, information, and data for customer identification in accordance with the laws on anti-money laundering and other relevant laws:

1. a) For Vietnamese individual customers, the Card Issuer shall require the customer to provide identification documents: Citizen Identity Card, Identity Card, or Electronic Identity;
2. b) For individual customers of Vietnamese origin who have not yet determined their nationality, the Card Issuer shall require the customer to provide identification documents: Certificate of Identity;
3. c) For foreign individual customers, the Card Issuer shall require the customer to provide identification documents: Passport or electronic identity (via access to the Level-2 electronic identification account) (if available). The Card Issuer shall require the customer to provide necessary documents to verify the permitted duration of residence in Vietnam;
4. d) For institutional customers, the Card Issuer shall require the customer to provide information, documents, and data for customer identification in accordance with the laws on anti-money laundering and the provisions of this Article; including documents, information, and data relating to the organization’s legal representative or authorized representative (collectively referred to as the “legal representative”) and supplementary cardholders.”.”

1.7. Decision No. 3730/QĐ-NHNN announcing amended administrative procedures within the State Bank of Vietnam’s One-Stop Department

• Name of legal document: Decision No. 3730/QĐ-NHNN dated 28/11/2025 announcing amended administrative procedures within the State Bank of Vietnam’s One-Stop Department (referred to as the “Decision No. 3730/QĐ-NHNN”).
• Effective date: 28/11/2025.

The content should be noted: Amendments and supplements to the procedure for requesting approval for the maximum credit limit exceeding statutory thresholds applicable to credit institutions and branches of foreign banks, as listed in Section I.2.1 of the amended and supplemented administrative procedures implemented at the One-Stop Department under the management authority of the State Bank of Vietnam, promulgated together with Decision No. 3730/QĐ-NHNN.

2. 2. Legal documents are effective in 12/2025

2.1. Decree No. 304/2025/NĐ-CP on conditions for collateral of non-performing loans subject to seizure

• Name of legal document: Decree No. 304/2025/NĐ-CP dated 25/11/2025 on conditions for collateral of non-performing loans subject to seizure (referred to as the “Decree No. 304/2025/NĐ-CP”).
• Effective date: 01/12/2025.

The content should be noted: Regulations on the conditions for seizing collateral securing non-performing loans.

Specifically, Article 4 of Decree No. 304/2025/NĐ-CP provides: “Article 4. Conditions for collateral of non-performing loans to be seized

1. Collateral securing non-performing loans that constitutes the debtor’s sole residence or primary or sole means of livelihood may only be seized when the conditions under Points a, b, c, d, dd Clause 2, Article 198a of Law No. 32/2024/QH15, as amended by Law No. 96/2025/QH15, are met, and one of the following conditions is satisfied:
2. a) For seizure of the sole residence that has been verified and proven under Clause 1, Article 5 of this Decree, the secured party shall provide the securing party with an amount equal to 12 months of salary, calculated based on the minimum wage provided in Clause 2, Article 3 of this Decree;
3. b) For seizure of the primary or sole means of livelihood that was not formed from loan proceeds and has been verified and proven under Clause 1, Article 5 of this Decree, the secured party shall provide the securing party with an amount equal to 06 months of salary, calculated based on the minimum wage provided in Clause 2, Article 3 of this Decree.
4. Collateral of non-performing loans that is not among the assets specified in Clause 1 of this Article may be seized when the conditions under Points a, b, c, d, dd Clause 2, Article 198a of Law No. 32/2024/QH15, as amended by Law No. 96/2025/QH15, are met.”.”

2.2. Circular No. 37/2025/TT-NHNN amendments to circular No. 31/2024/TT-NHNN of governor of the state bank of vietnam prescribing classification of assets in operations of commercial banks, non-bank credit institutions and foreign bank branches

• Name of legal document: Circular 37/2025/TT-NHNN dated 31/10/2025 amendments to circular no. 31/2024/TT-NHNN of governor of the state bank of vietnam prescribing classification of assets in operations of commercial banks, non-bank credit institutions and foreign bank branches (referred to as the “Circular No. 37/2025/TT-NHNN”).
• Effective date: 15/12/2025.

The content should be noted: Amendments and supplements relating to internal regulations on credit granting, debt management, and provisioning policies.

Specifically, Article 2 of Circular No. 37/2025/TT-NHNN provides: “Article 2. Amendments to clause 2 Article 7

“2. Banks and non-bank credit institutions shall send reports to SBV as prescribed in clause 1 of this Article as follows:

1. a) Banks and non-bank credit institutions shall send their reports to SBV (via the Credit Institution Management and Supervision Department), except the cases in point b of this clause;
2. b) If an FBB is subject to microprudential inspection and supervision of a SBV’s regional branch, it shall submit reports to that SBV’s regional branch.”.”

2.3. Circular No. 39/2025/TT-NHNN on opening and use of foreign-currency accounts abroad by resident organizations

• Name of legal document: Circular 39/2025/TT-NHNN dated 31/10/2025 on opening and use of foreign-currency accounts abroad by resident organizations (referred to as the “Circular No. 39/2025/TT-NHNN”).
• Effective date: 15/12/2025.

The content should be noted: Regulations on cases in which licensed credit institutions may open and use foreign currency accounts abroad.

Specifically, Article 2 of Circular No. 39/2025/TT-NHNN provides: “Article 2. Cases of opening and use of foreign-currency accounts abroad by licensed credit institutions

1. Licensed credit institutions that conduct foreign exchange activities abroad in accordance with the License issued by the State Bank of Vietnam (hereinafter referred to as the State Bank) may open and use foreign-currency accounts abroad to carry out foreign exchange activities consistent with the contents approved by the State Bank and the regulations of the host-country law where the accounts are opened, without having to apply for permission to open and use foreign-currency accounts abroad under this Circular.
2. Where implementing offshore loans in accordance with current regulations of law, licensed credit institutions may open and use foreign-currency accounts abroad to carry out offshore loans under the contract or agreement signed with the foreign lender requiring the opening of foreign-currency accounts abroad for implementation of the offshore loans, and in accordance with the host-country law where the accounts are opened, without having to apply for permission to open and use foreign-currency accounts abroad under this Circular.
3. After being granted the License to open and use foreign-currency accounts abroad (hereinafter referred to as the License), licensed credit institutions may open and use foreign-currency accounts abroad in accordance with the contents stated in the License, the Decision on amendments to the License (if any), this Circular, and the host-country law where the licensed credit institutions open the accounts in the following cases:
4. a) Licensed credit institutions open and use foreign-currency accounts abroad to meet licensing conditions for establishment and operation of representative offices, branches or wholly-owned banks abroad in accordance with the host-country law;
5. b) Licensed credit institutions open and use foreign-currency accounts abroad to serve the operation of representative offices abroad.”

2.4. Decision No. 3707/QĐ-NHNN on amended administrative procedures in banking establishment and operations

• Name of legal document: Decision No. 3707/QĐ-NHNN dated 25/11/2025 on amended administrative procedures in banking establishment and operations (referred to as the “Decision No. 3707/QĐ-NHNN”).
• Effective date: 15/12/2025.

The content should be noted: Amendments and supplements to procedures for approving qualitative methods for loan classification and off-balance sheet item classification for commercial banks, non-bank credit institutions, and branches of foreign banks, as listed in Section I of the amended administrative procedures issued together with Decision No. 3707/QĐ-NHNN.

2.5. Decision No. 3708/QĐ-NHNN on amended, supplemented, replaced and abolished administrative procedures in foreign exchange activities

• Name of legal document: Decision No. 3708/QĐ-NHNN dated 25/11/2025 on amended, supplemented, replaced and abolished administrative procedures in foreign exchange activities (referred to as the “Decision No. 3708/QĐ-NHNN”).
• Effective date: 15/12/2025.

The content should be noted: Amendments and supplements to procedures for licensing the opening and use of offshore foreign currency accounts to serve the operations of branches and representative offices abroad of economic entities, as listed in Section I.1.4 of the amended administrative procedures issued together with Decision No. 3708/QĐ-NHNN.

1. LEGAL DOCUMENTS ARE ISSUED IN 10, 11/2025

1.2. Circular No. 23/2025/TT-NHNN amendments to Circular No. 30/2019/TT-NHNN dated December 27, 2019 of governor of state bank of vietnam prescribing reserve requirements to be satisfied by credit institutions and foreign bank branches.

• Name of legal document: Circular N 23/2025/TT-NHNN issued on August 12, 2025, by the State Bank of Vietnam on the amendments to Circular No. 30/2019/TT-NHNN dated December 27, 2019 of governor of state bank of Vietnam prescribing reserve requirements to be satisfied by credit institutions and foreign bank branches (hereinafter referred to as “Circular 23/2025/TT-NHNN”).
• Effective Date: 01/10/2025.

The content should be noted: Regulations on reduction in reserve ratios.

Specifically, Article 2 of Circular No. 23/2025/TT-NHNN stipulates: “Article 2. Amendments to Article 7 of Circular No. 30/2019/TT-NHNN

Article 7 is amended as follows:

“Article 7. Reduction in reserve ratios

1. The reserve ratio imposed on an assisting credit institution as defined in clause 39 Article 4 of the Law on Credit Institutions (hereinafter referred to as “assisting credit institution”) shall be reduced by 50% according to the plan for recovery of the credit institution placed under special control approved by a competent authority (hereinafter referred to as “approved recovery plan”).
2. The reserve ratio imposed on a credit institution that receives mandatory transfer of a commercial bank placed under special control as prescribed in the Law on Credit Institutions (hereinafter referred to as “transferee”) shall be reduced by 50% according to the plan for mandatory transfer of a commercial bank placed under special control approved by a competent authority (hereinafter referred to as “approved mandatory transfer plan”).
3. The rate of reduction in reserve ratio granted to each of the credit institutions prescribed in clauses 1 and 2 of this Article shall be calculated according to the reserve ratio imposed on that credit institution as prescribed in clause 1 Article 6 of this Circular, regardless of types of reservable deposits.”

1.2. Decision No. 3440/QD-NHNN on the promulgation of newly issued, amended, supplemented, replaced, or abolished administrative procedures in the foreign exchange operations sector implemented at the single-window division under the functional management scope of the State Bank of Vietnam.

• Name of legal document: Decision No. 3440/TT-NHNN issued on October 12, 2025, by the State Bank of Vietnam on the promulgation of newly issued, amended, supplemented, replaced, or abolished administrative procedures in the foreign exchange operations sector implemented at the single-window division under the functional management scope of the State Bank of Vietnam (hereinafter referred to as “Decision No. 3440/QD-NHNN”).
• Effective date: 12/10/2025.

The content should be noted: Regulations on the procedure for licensing commercial banks to produce gold bars.

Specifically, Clause 1.11, Article 1, Part II of Decision No. 3340/QD-NHNN stipulates: “1.11. Requirements and Conditions:

…

– For Commercial Banks:

a) Must possess a License for gold bar trading/business;

b) Must have a charter capital of VND 50,000 billion or more;

c) Must not have been penalized for administrative violations related to gold business operations or, if penalized for administrative violations related to gold business operations, must have completed all remedial measures in accordance with the Decision on administrative violation penalties and the time-bound recommendations in the inspection and examination conclusions of competent State agencies (if any);

d) Must have internal regulations on gold bar production, including fundamental contents such as the raw material import process; the gold bar production process; the production monitoring process; and the product quality control process.”

1.3. Circular No. 21/2025/TT-NHNN prescribing credit rating of credit institutions and foreign bank branches.

• Name of legal document: Circular No. 21/2025/TT-NHNN issued on July 31, 2025, by the State Bank of Vietnam on the prescribing credit rating of credit institutions and foreign bank branches (hereinafter referred to as “Circular 21/2025/TT-NHNN”).
• Effective Date: 01/11/2025.

The content should be noted: Regulations on the rating criteria system.

Specifically, Article 6 of Circular No. 21/2025/TT-NHNN stipulates: “Article 6. Credit rating criteria system

1. The system of criteria used for the credit rating of credit institutions and FBBs shall include:a) Capital (C);b) Asset quality (A);c) Management and administration (M);d) Business efficiency (E);đ) Liquidity (L);e) Sensitivity to market risk (S).
2. Credit institutions and FBBs may be scored according to criteria and subgroup of indicators prescribed in Article 7, 8, 9, 10, 11 and 12 hereof.”

1.4. Circular No. 27/2025/TT-NHNN on guidelines for implementation of a number of articles of the law on anti-money laundering.

• Name of legal document: Circular N 27/2025/TT-NHNN issued on September 15, 2025, by the State Bank of Vietnam on the guidelines for implementation of a number of articles of the law on anti-money laundering (hereinafter referred to as “Circular 27/2025/TT-NHNN”).
• Effective Date: 15/11/2025.

The content should be noted: Procedures for money laundering risk management.

Specifically, Clause 1 of Article 4 of Circular No. 27/2025/TT-NHNN stipulates: “Article 4. Procedures for money laundering risk management…

1. Based on the results of assessment and update of money laundering risk as prescribed in Article 3 of this Circular, reporting entities shall formulate and promulgate procedures for money laundering risk management at reporting entities. Procedures for money laundering risk management must be approved by senior managers that have authority under the law of reporting entities or by persons authorized by such senior managers, and must be presented step by step in line with the size, scope, and characteristics of operations of reporting entities for money laundering risk management. Procedures for money laundering risk management must include at least the following:a) Defining the scope and objectives of money laundering risk management activities;b) Identifying and assessing the level of impact of money laundering risk at reporting entities;c) Customer risk rating by money laundering risk levels of low, medium, and high based on the following factors: customers; products and services that customers are using or intend to use; geographic locations where customers reside or have their head offices; and other factors self-identified by reporting entities in line with actual circumstances and specified in risk management procedures;d) Procedures for identifying and assessing money laundering risk before providing new products or services, or existing products and services applying innovative technology;đ) Risk management procedures for executing, refusing, suspending, controlling after transaction, or considering and reporting suspicious transactions of wire transfer transactions with inaccurate or incomplete information as required;e) Risk management procedures in cases where products or services are provided to customers before completion of verification of customer due diligence (CDD) information as required by law, including specific conditions under which customers may use products or services before completion of verification of CDD information;g) Measures applied corresponding to customer money laundering risk levels, including updating CDD information, frequency of updating CDD information, verifying CDD information, monitoring customer transactions according to money laundering risk levels, simplified CDD measures, and enhanced CDD measures as prescribed in Clauses 2 and 5 of this Article.”

1.5. Circular No. 29/2025/TT-NHNN on providing guidance for credit institutions and foreign bank branches on granting loans for agriculture and rural development.

• Name of legal document: Circular N 29/2025/TT-NHNN issued on September 30, 2025, by the State Bank of Vietnam on providing guidance for credit institutions and foreign bank branches on granting loans for agriculture and rural development (hereinafter referred to as “Circular 29/2025/TT-NHNN”).
• Effective date: 15/11/2025.

The content should be noted: Regulations on the debt rescheduling for borrowers facing difficulties due to objective and force majeure reasons.

Specifically, Article 3 of Circular No. 29/2025/TT-NHNN stipulates: “Article 3. Debt rescheduling for borrowers facing difficulties due to objective and force majeure reasons

1. In cases where customers face difficulties due to objective and force majeure reasons as defined in Clause 12 of Article 3 and Clause 1 of Article 12 of Decree No. 55/2015/ND-CP, which is amended by Decree No. 116/2018/ND-CP and Decree No. 156/2025/ND-CP, and specifically determined on each occasion by the credit institution and the borrower(hereinafter referred to as specific objective and force majeure reasons), the credit institution shall consider rescheduling outstanding principal and/or interest and maintaining debt group classification of rescheduled debts (principal and/or interest) under the applicable regulations at the most recent time before debt rescheduling under this Circular, based on the borrower’s proposal, the financial capacity of the credit institution, and compliance with the following conditions:a) There exists an outstanding principal incurred before or during the occurrence of the specific objective and force majeure reasons;b) The outstanding principal and/or interest of each repayment period of the debt to be rescheduled is either undue or overdue by up to 10 (ten) days from the agreed repayment due date;c) The credit institution determines that the borrower is facing difficulties and unable to repay the principal and/or interest on time as agreed due to specific objective and force majeure reasons, and is capable of fully repaying the principal and/or interest after the debt is rescheduled;d) A debt may be rescheduled an unlimited number of times; however, the duration granted for each rescheduling for the same specific objective and force majeure reason must not exceed:i) 12 months from the due date of each outstanding principal and interest of the rescheduled short-term debts;ii) 36 months from the due date of each outstanding principal and interest of the rescheduled medium-term and long-term debts;The due date of each outstanding debt rescheduled under this point shall be based on the repayment term and periods most recently agreed upon before it is rescheduled for the first time under this Circular for the same specific objective and force majeure reason.

2. Debts that have been rescheduled under other laws and satisfy the regulations herein may be considered by the credit institution for debt rescheduling in accordance herewith.”

1.6. Circular No. 33/2025/TT-NHNN on amendment to Circular No. 17/2014/TT-NHNN on classification, packaging, delivery of precious metal and precious jewels.

• Name of legal document: Circular N 33/2025/TT-NHNN issued on September 30, 2025, by the State Bank of Vietnam on the guidelines for implementation of a number of articles of the law on anti-money laundering (hereinafter referred to as “Circular 33/2025/TT-NHNN”).
• Effective Date: 15/11/2025.

The content should be noted: Amendments to the regulations on the documents required upon delivery of precious metals and precious jewels.

Specifically, Article 10 of Circular No. 33/2025/TT-NHNN stipulates: “Article 10. Amendment to Clause 1 Article 15

“1. The following documents shall be required upon delivery of precious metal and precious jewels:

a) Storage withdrawal order of competent authorities, SBV, credit institutions;

b) Notice of storage withdrawal;

c) Power of attorney of receiving persons, receiving entities (when receiving on behalf);

d) ID Card or electronic ID Card or passport of receiving persons.”

1.7      Circular No. 30/2025/TT-NHNN on  amendments to certain articles of the Circular No. 15/2024/TT-NHNN on provision of cashless payment services.

• Name of legal document: Circular N 30/2025/TT-NHNN issued on September 30, 2025, by the State Bank of Vietnam on amendments to certain articles of the Circular No. 15/2024/TT-NHNN on provision of cashless payment services.
• Effective date: 18/11/2025.

The content should be noted: Regulations on the procedures and conditions for cash deposit and withdrawal via the National Inter – bank Electronic Payment System.

Specifically, Clause 1 of Article 3 of Circular No. 30/2025/TT-NHNN stipulates: “Article 1. Amendments to some points and clauses of Article 7

1. Point a Clause 2 Article 7 is amended as follows:“a) Where a credit institution deposits or withdraws cash via the National Inter – bank Electronic Payment System, the credit institution or the branch of the credit institution shall send list of officials authorized to conduct cash transactions with SBV’s regional branch and written authorization produced by each official and signed by legal representative of the credit institution (Appendix No. 1 attached hereto) to SBV’s regional branch.  The written authorization must specify information on the authorized individual, term of authorization, detail of authorization pertaining to cash transactions and transport;”.”

2. LEGAL DOCUMENTS ARE EFFECTIVE IN 09, 10/2025

2.1.      Circular No. 31/2025/TT-NHNN on the operations conducted by subsidiaries or associate companies of credit institutions in the field of debt and collateral management.

• Name of legal document: Circular N 31/2025/TT-NHNN issued on September 30, 2025, by the State Bank of Vietnam on the operations conducted by subsidiaries or associate companies of credit institutions in the field of debt and collateral management.
• Effective date: 01/12/2025.

The content should be noted: Regulations on the operations conducted by debt management companies.

Specifically, Article 4 of Circular No. 31/2025/TT-NHNN stipulates: “Article 4. Operations conducted by debt management companies

A debt management company is allowed to conduct the following operations:

1. Debt management and settlement as authorized by the authorizing party as prescribed in Article 6 of this Circular.
2. Management of debt collateral as authorized by the authorizing party as prescribed in Article 6 of this Circular.
3. Utilization of collateral as authorized by the authorizing party through leasing of part of the authorizing party’s business building which is not yet used in accordance with regulations of Article 139 of the Law on Credit Institutions.
4. Debt purchase and sale as prescribed in Article 7 of this Circular.
5. Purchase of bad debt collateral as prescribed in Article 8 of this Circular.
6. Settlement of bad debts and disposal of collateral of other bad debts according to the restructuring plan approved by the competent authority.
7. Valuation of collateral of debts during implementation of the operations specified in clauses 1, 2, 4, 5 and 6 of this Article.”

1.     LEGAL DOCUMENTS ARE EFFECTIVE IN 09/2025

1.1. Circular No.14/2025/TT-NHNN stipulates the capital adequacy ratio applicable to commercial banks and branches of foreign banks

• Name of legal document: Circular No. 14/2025/TT-NHNN, issued on June 30, 2025, by the State Bank of Vietnam, provides regulations on the capital adequacy ratio applicable to foreign banks (hereinafter referred to as “Circular No. 14/2025/TT-NHNN”).
• Effective date: 15/09/2025.

The content should be noted: Banks regulate transactions by mitigating credit risks

Specifically, Clauses 1 and 2, Article 25 of Circular No. 14/2025/TT-NHNN stipulates: “Article 25. Credit Risk Mitigation

Banks are allowed to adjust the value of receivables or transactions downward using the credit risk mitigation measures specified in Clause 2 of this Article.

Credit risk mitigation as mentioned in Clause 1 of this Article shall be implemented through one or a combination of the following measures:

a) Collateral;

b) On-balance sheet netting;

c) Third-party guarantees;

d) Credit derivatives.”.

2.     LEGAL DOCUMENTS ARE ISSUED IN 08/2025

2.1. Decision No. 2916a/QĐ-NHNN of 2025 announcing the amended and supplemented administrative procedures in the field of establishment and operation of banks, implemented at the One-Stop Shop under the scope of management functions

• Name of legal document: Decision No. 2916a/QĐ-NHNN of 2025 announcing the amended and supplemented administrative procedures in the field of bank establishment and operation, to be implemented at the One-Stop Shop within the scope of management functions (hereinafter referred to as “Decision No. 2916a/QĐ-NHNN”).
• Consolidated date: 02/08/2025.

The content should be noted: Amendments and supplements to the procedures for approving the expected appointment of personnel for the appointment of the General Director (Director) of foreign bank branches

Specifically, Section 1, Part I of the amended and supplemented administrative procedures the field of establishment and operation of banks under the management of the State Bank of Vietnam promulgated together with Decision No. 2916a/QD-NHNN stipulates: “PART I. LIST OF ADMINISTRATIVE PROCEDURES

1. List of amended and supplemented administrative procedures under the management of the State Bank of Vietnam

”

2.2. Consolidated Document No. 16/VBHN‑NHNN of 2025 consolidating the Circular regulating refinancing for credit institutions after credit institutions have lent to Vietnam Airlines Corporation ‑ Joint Stock Company, and restructuring of repayment terms, maintaining loan classification, and provisioning for risk in respect of debts of Vietnam Airlines Corporation ‑ Joint Stock Company due to the impacts of the COVID‑19 pandemic

• Name of legal document: Consolidated Document No. 16/VBHN-NHNN issued on September 15, 2025, by the State Bank of Vietnam, stipulating regulations on refinancing for credit institutions after such institutions have provided loans to Vietnam Airlines Corporation – Joint Stock Company, and on the restructuring of repayment terms, maintenance of debt classification, and risk provisioning for debts of Vietnam Airlines Corporation – Joint Stock Company due to the impacts of the COVID-19 pandemic.
• Effective date: 06/08/2025.

The content should be noted: Consolidating Circular No. 04/2021/TT-NHNN dated April 5, 2021, of the Governor of the State Bank of Vietnam, stipulating regulations on refinancing for credit institutions after such institutions have granted loans to Vietnam Airlines Corporation – Joint Stock Company, and on the restructuring of repayment terms, maintenance of debt classification, and risk provisioning for debts of Vietnam Airlines Corporation – Joint Stock Company due to the impacts of the COVID-19 pandemic, which took effect from April 5, 2021; Circular No. 42/2024/TT-NHNN dated July 22, 2024, of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 04/2021/TT-NHNN dated April 5, 2021, on the same subject, which took effect from July 22, 2024; and Circular No. 16/2025/TT-NHNN dated July 11, 2025, of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 04/2021/TT-NHNN dated April 5, 2021, on the same subject, which took effect from July 11, 2025.

2.3. Consolidated Document No.17/VBHN-NHNN of 2025 consolidating the Circular guiding foreign exchange management for border trade activities between Vietnam and China

• Name of legal document: Consolidated Document No. 17/VBHN-NHNN issued on August 11, 2025, by the State Bank of Vietnam, consolidating the Circular providing guidance on foreign exchange management for border trade activities between Vietnam and China.
• Consolidated date: 11/08/2025.

The content should be noted: Consolidating Circular No. 19/2018/TT-NHNN dated August 28, 2018, of the Governor of the State Bank of Vietnam providing guidance on foreign exchange management for border trade activities between Vietnam and China, which took effect on October 12, 2018; Circular No. 55/2024/TT-NHNN dated December 18, 2024, of the Governor of the State Bank of Vietnam amending Clause 4, Article 2 of Circular No. 19/2018/TT-NHNN dated August 28, 2018, providing guidance on foreign exchange management for border trade activities between Vietnam and China, which took effect on February 1, 2025; and Circular No. 17/2025/TT-NHNN dated July 30, 2025, of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 19/2018/TT-NHNN dated August 28, 2018, providing guidance on foreign exchange management for border trade activities between Vietnam and China, which took effect on September 15, 2025.

2.4. Circular 81/2025/TT-BTC regulating the management and use of payment accounts of the State Treasury opened at the State Bank of Vietnam and commercial banks

• Name of legal document: Circular 81/2025/TT-BTC of the Ministry of Finance issued on August 13, 2025 regulating the management and use of payment accounts of the State Treasury opened at the State Bank of Vietnam and commercial banks (hereinafter referred to as “Circular 81/2025/TT-BTC”).
• Consolidated date: 13/08/2025.

The content should be noted: Regulations on commercial banks where the State Treasury opens payment accounts

Specifically, Article 4 of Circular No. 81/2025/TT-BTC stipulates: “Article 4. Commercial banks where the State Treasury opens current accounts

1. The State Treasury shall open a payment account at a commercial bank, ensuring that such commercial bank is not subject to compulsory transfer or special control under a decision of the State Bank of Vietnam; capable of electronic bilateral payment according to professional requirements and technical specifications published on the State Treasury’s web portal.
2. Before opening a payment account with each commercial bank, the State Treasury and the commercial bank shall reach an agreement on electronic bilateral payment according to the principal contents in the Appendix issued together with this Circular. In particular, the electronic bilateral payment with each commercial bank under the model of a distributed payment account or a centralized payment account model is based on the ability to meet the professional requirements and technical specifications of that commercial bank according to each model.”.

2.5. Consolidated Document No. 18/VBHN-NHNN of 2025 consolidating the Circular on the implementation of mandatory reserve requirements for credit institutions and foreign bank branches

• Name of legal document: Consolidated Document No. 18/VBHN-NHNN issued on August 19, 2025, by the State Bank of Vietnam, regulating the implementation of mandatory reserve requirements for credit institutions and foreign bank branches.
• Consolidated date: 19/08/2025.

The content should be noted: Consolidation of Circular No. 30/2019/TT-NHNN dated December 27, 2019, issued by the Governor of the State Bank of Vietnam, regulating the implementation of mandatory reserve requirements for credit institutions and foreign bank branches, effective from March 1, 2020, and Circular No. 23/2025/TT-NHNN dated August 12, 2025, issued by the Governor of the State Bank of Vietnam, amending and supplementing certain provisions of Circular No. 30/2019/TT-NHNN dated December 27, 2019, regulating the implementation of mandatory reserve requirements for credit institutions and foreign bank branches, effective from October 1, 2025.

2.6. Circular No. 25/2025/TT-NHNN amending Circular No. 17/2024/TT-NHNN on the opening and use of payment accounts at payment service providers

• Name of legal document: Circular No. 25/2025/TT-NHNN issued on August 30, 2025, by the State Bank of Vietnam, amending Circular No. 17/2024/TT-NHNN on the opening and use of payment accounts at payment service providers (hereinafter referred to as “Circular No. 25/2025/TT-NHNN”).
• Consolidated date: 31/08/2025.

The content should be noted: Amending and supplementing regulations on dossiers of opening payment accounts for individuals who are Vietnamese citizens.

Specifically, Clause 1, Article 3 of Circular No. 25/2025/TT-NHNN stipulates: “Article 3. Amendments and supplements to several points and clauses of Article 12

1. To amend and supplement Point a, Clause 2, Article 12 as follows: “a) In case an individual is a Vietnamese citizen: Citizen identity card, identity card or electronic identity card or birth certificate for a person under 14 years old who does not have an identity card;”.

1.     LEGAL DOCUMENTS ARE EFFECTIVE IN 08/2025

1.1. Decree No. 135/2025/ND-CP on the financial regime applicable to credit institutions, branches of foreign banks, and the financial supervision and evaluation of the efficiency of state capital investment in wholly state-owned credit institutions and state-invested credit institutions

• Name of legal document: Decree No. 135/2025/ND-CP issued on 12/06/2025 by the Government on the financial regime applicable to credit institutions, branches of foreign banks, and the financial supervision and evaluation of the efficiency of state capital investment in wholly state-owned credit institutions and state-invested credit institutions (referred to as the “Decree No. 135/2025/ND-CP”).
• Effective date: 01/08/2025.

The content should be noted: Responsibilities of credit institutions and foreign bank branches for capital safety assurance.

Specifically, Article 7 of Decree No. 135/2025/ND-CP stipulates: “Article 7. Capital safety assurance

Credit institutions and branches of foreign banks shall comply with regulations on capital safety assurance as follows:

1. Manage and use capital and assets, distribute profits, and implement financial management and accounting regimes in accordance with the Law on Credit Institutions, this Decree, and other relevant laws;
2. Comply with regulations on operational safety in accordance with the Law on Credit Institutions and other relevant laws;
3. Purchase asset insurance for assets required to be insured;
4. Participate in deposit insurance and the safety assurance fund for the system of people’s credit funds as prescribed by the Law on Credit Institutions;
5. Handle asset losses in accordance with Article 9 of this Decree;
6. Recognize risk provisions as business expenses in accordance with the Law on Credit Institutions and other relevant laws;
7. Other capital preservation measures as prescribed by law.”

1.2. Circular No. 20/2025/TT-NHNN elaborating applications and procedures for approving list of expected personnel of commercial banks, foreign bank branches, and non-bank credit institutions

• Name of legal document: Circular No. 20/2025/TT-NHNN issued on 31/07/2025 by the State Bank of Vietnam elaborating applications and procedures for approving list of expected personnel of commercial banks, foreign bank branches, and non-bank credit institutions (referred to as the “Circular No. 20/2025/TT-NHNN”).
• Effective date: 10/08/2025.

The content should be noted: Effective period of written approval for list of expected personnel.

Specifically, Article 5 of Circular No. 20/2025/TT-NHNN stipulates: “Article 5. Effective period of written approval for list of expected personnel

Written approval issued by SBV for list of expected personnel of banks and non-bank credit institutions shall remain effective for 6 months from the date of signing. Where election and assignment of personnel of banks and non-bank credit institutions have not been completed within the aforementioned time limit, written approval issued by SBV for expected personnel of banks and non-bank credit institutions shall expire by default.”

2.     LEGAL DOCUMENTS ARE ISSUED IN 07/2025

2.1. Consolidated Document No. 12/VBHN-NHNN operational network of commercial banks

• Name of legal document: Consolidated Document No. 12/VBHN-NHNN issued on 10/07/2025 by the the State Bank of Vietnam operational network of commercial banks.
• Consolidated date: 10/07/2025.

The content should be noted: This document consolidates:

Circular No. 32/2024/TT-NHNN dated June 30, 2024 of the Governor of the State Bank of Vietnam operational network of commercial banks, effective from August 15, 2024 and Circular No. 08/2025/TT-NHNN dated June 6, 2025 of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 43/2015/TT-NHNN dated December 31, 2015 of the Governor of the State Bank of Vietnam regulating the organization and operation of postal transaction offices under Lien Viet Post Joint Stock Commercial Bank, Circular No. 29/2024/TT-NHNN dated June 28, 2024 of the Governor of the State Bank of Vietnam regulating people’s credit funds and Circular No. 32/2024/TT-NHNN Decree dated June 30, 2024 of the Governor of the State Bank of Vietnam operational network of commercial banks, effective from July 1, 2025

2.2. Decision No. 2866/QD-NHNN on maximum outstanding balance for a borrower at a peer-to-peer lending solution and all peer-to-peer lending solutions participating in the Controlled Testing Mechanism

• Name of legal document: Decision No. 2866/QD-NHNN issued on 22/07/2025 by the State Bank of Vietnam on maximum outstanding balance for a borrower at a peer-to-peer lending solution and all peer-to-peer lending solutions participating in the Controlled Testing Mechanism (referred to as the “Decision No. 2866/QD-NHNN”).
• Effective date: 22/07/2025.

The content should be noted: The maximum outstanding balance of a borrower at one and all peer-to-peer lending solutions participating in the Controlled Testing Mechanism prescribed in Decree No. 94/2025/ND-CP.

Specifically, Article 1 of Decision No. 2866/QD-NHNN stipulates: “Article 1. The maximum outstanding balance of a borrower at one and all peer-to-peer lending solutions participating in the Controlled Testing Mechanism prescribed in Decree No. 94/2025/ND-CP dated April 29, 2025 of the Government regulating the Controlled Testing Mechanism in the banking sector is as follows:

1. At one peer-to-peer lending solution participating in the Controlled Testing Mechanism: VND 100 million (VND 100,000,000).
2. At all peer-to-peer lending solutions participating in the Controlled Testing Mechanism: VND 400 million (VND 400,000,000).”

2.3. Consolidated Document No. 13/VBHN-NHNN regulating the system of bank codes used in banking activities and operations

• Name of legal document: Consolidated Document No. 13/VBHN-NHNN issued on 23/07/2025 by the the State Bank of Vietnam regulating the system of bank codes used in banking activities and operations.
• Consolidated date: 23/07/2025.

The content should be noted: This document consolidates: Circular No. 17/2015/TT-NHNN dated October 21, 2015 of the Governor of the State Bank of Vietnam regulating the system of bank codes used in banking activities and operations, effective from July 1, 2016; Circular No. 18/2023/TT-NHNN dated December 28, 2023 of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 17/2015/TT-NHNN dated October 21, 2015 of the Governor of the State Bank of Vietnam regulating the system of bank codes used in banking activities and operations, effective from July 1, 2024; and Circular No. 11/2025/TT-NHNN dated June 26, 2025 of the Governor of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 17/2015/TT-NHNN dated October 21, 2015 of the Governor of the State Bank of Vietnam regulating the banking code system used in banking activities and operations, effective from June 26, 2025./.