NEW REGULATIONS ON THE REORGANIZATION OF CREDIT INSTITUTIONS

New regulations of reorganizing credit institutions are provided by Vietnam State Bank issued Circular 36/2015/TT-NHNN on December 31st 2015.

Accordingly, the cases of reorganization of credit institutions include:
  • Merger of credit institutions:
    • Commercial banks, finance companies merge into a commercial bank;
    • Financial companies merge into a financial company.
  • Consolidation of credit institutions:
    • Commercial banks commercial banks consolidate into a commercial bank;
    • A commercial Bank consolidates with a financial company into a commercial bank;
    • A company consolidates a financial finance company into a financial company.
  • Convert the legal form of credit institutions:
    • Commercial banks, financial companies convert from a limited liability company into a joint stock company and vice versa.
    • Commercial banks, financial companies convert from a limited liability company one member of a limited liability company with two members or more, and vice versa.

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