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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