On August 29, 2025, the Governor of the State Bank of Vietnam signed and issued Circular No. 24/2025/TT-NHNN (Circular No.24). This circular amends and supplements a number of articles of Circular No. 63/2024/TT-NHNN, which specifies the procedures and documentation for revoking licenses and liquidating assets of credit institutions and foreign bank branches, as well as for revoking licenses of foreign credit institutions' representative offices in Vietnam and other foreign organizations with banking operations.
The new circular consists of six articles:
Article 1: Amends and supplements a number of clauses in Article 3.
Article 2: Amends and supplements a number of clauses in Article 6.
Article 3: Amends and supplements Article 16.
Article 4: Amends and supplements Article 22.
Article 5: Outlines the responsibilities for implementation.
Article 6: Covers the terms of enforcement.
Circular No.24 will take effect on October 15, 2025.
SBVNews/VNBA News