Tiếng Việt

LEGAL UPDATE RELATING TO FINANCE AND CREDIT (MONTHLY LEGAL UPDATE – 02/2026)

by | Mar 4, 2026 | Banking, EN, Legal Update

  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.

  1. 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.

  1. 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.

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