Circular No. 13/2026/TT-NHNN amending and supplementing certain articles of Circular No. 53/2018/TT-NHNN on the operational network of non-bank credit institutions

SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

Hanoi, date/month/year 2026

Pursuant to the Law on the State Bank of Vietnam No. 01/2010/QH12; Pursuant to the Law on Credit Institutions No. 32/2010/QH12; Pursuant to Resolution No. 96/2025/QH15; Pursuant to Decree No. 202/2023/ND-CP of the Government detailing the organization, functions, duties, powers, and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the Non-Bank Credit Institution Supervision Department; The Governor of the State Bank of Vietnam hereby issues Circular amending and supplementing certain articles of Circular No. 53/2018/TT-NHNN on the operational network of non-bank credit institutions.

Article 1. Amendment and supplementation of Article 4

Article 4. Authority to approve and decide on the operational network of non-bank credit institutions

1. The Governor of the State Bank of Vietnam (hereinafter referred to as the Governor) considers and approves the establishment of representative offices, branches, and business units of non-bank credit institutions.

2. The State Bank of Vietnam regional branches consider and approve the following matters:
   a) Change of location of the head office of non-bank credit institutions to another locality (including cases of changing the location of the first operational site); b) Voluntary closure, liquidation, and termination of operations of branches, representative offices, and business units of non-bank credit institutions within the locality; c) Establishment, forced closure, liquidation, and termination of operations of branches, representative offices, and business units of non-bank credit institutions.

Article 2. Amendment and supplementation of Article 5

Article 5. Principles of dossier preparation, submission, and resolution

1. Dossiers must be prepared in Vietnamese. Documents in the dossier must be originals, copies from the original, or certified copies or copies presented alongside the original according to legal provisions. Each dossier must include a list of documents.

2. Requests and notifications of non-bank credit institutions must be signed by the legal representative or the authorized representative (hereinafter referred to as the legal representative).

In cases where the request of a non-bank credit institution is signed by an authorized representative, the dossier must include a power of attorney in accordance with legal provisions.

3. Dossiers must be submitted to the State Bank of Vietnam (hereinafter referred to as the State Bank) or the State Bank of Vietnam regional branch (hereinafter referred to as the Regional Branch) through one of the following methods:
   a) Online submission via the National Public Service Portal; b) Direct submission at the One-Stop Shop of the State Bank or the Regional Branch; c) Submission via postal services.

4. In cases of online submission via the National Public Service Portal, the dossier must use digital signatures as prescribed by law and implement electronic administrative procedures.

In cases where the National Public Service Portal encounters errors or cannot receive, exchange, or return electronic information, the non-bank credit institution must submit the dossier directly at the One-Stop Shop of the State Bank or the Regional Branch.

5. Results of administrative procedure resolution are sent to non-bank credit institutions via electronic documents through online methods; in cases where the non-bank credit institution has a request, the result is sent via paper documents through postal services or directly at the One-Stop Shop of the State Bank or the Regional Branch.

6. Documents in the aforementioned dossier are electronic documents generated from official documents (PDF format files) or images created from dossiers with digital signatures.

Article 3. Amendment and supplementation of Clause 3, Article 6

"3. Within 05 working days from the date of issuance or amendment/supplementation of the Decision on network management, non-bank credit institutions must send reports to the State Bank (Non-Bank Credit Institution Supervision Department) and the Regional Branch where the non-bank credit institution is located regarding the network management according to Article 4."

Article 4. Amendment and supplementation of Clause 1, Article 9

"1. Requests of non-bank credit institutions requesting the State Bank to approve the establishment of branches, and requests to the Regional Branch to approve the establishment of representative offices and business units, are attached to Appendix 1 issued together with this Circular."

Article 5. Amendment and supplementation of Clause 1, Article 10

"1. Time limit for approval prior to opening operations:
a) Non-bank credit institutions prepare 01 set of dossiers corresponding to each type of network form as prescribed in Article 9 of this Circular and send them to the State Bank or the Regional Branch. In case the dossier is incomplete or invalid, within 07 working days from the date of receipt of the dossier, the State Bank or the Regional Branch issues a request for the non-bank credit institution to amend or supplement the dossier; b) Non-bank credit institutions amend or supplement the dossier within a maximum period of 15 working days from the date the State Bank or the Regional Branch issues the request for amendment or supplement. If this period expires, the non-bank credit institution must resubmit the complete dossier to the State Bank or the Regional Branch for consideration and approval; c) For requests to establish branches, within 05 working days from the date of receipt of the request, the Non-Bank Credit Institution Supervision Department issues a document notifying the State Bank or the Regional Branch (where the non-bank credit institution plans to establish the branch) of information related to the conditions for establishing branches within the locality and the need for further supervision; d) Within 05 working days from the date of receipt of the notification document, the Non-Bank Credit Institution Supervision Department and agencies at the locations specified in this clause have opinions to participate in writing regarding the contents proposed; d) Within 11 working days from the date of receipt of the response document from the State Bank or the Regional Branch, the Governor issues a document approving or disapproving the establishment of branches by the non-bank credit institution; e) Within 21 working days from the date of receipt of the response document from the Regional Branch or within 11 working days from the date of receipt of the request to establish representative offices and business units of non-bank credit institutions, the State Bank or the Regional Branch issues a document approving or disapproving the request of the non-bank credit institution. In case of disapproval, the document must state the reasons; g) Within 12 months from the date the State Bank or the Regional Branch issues the approval document, non-bank credit institutions must open operations for branches, representative offices, and business units. If this period expires without opening operations for branches, representative offices, and business units, the approval document of the State Bank or the Regional Branch automatically becomes invalid."

Article 6. Amendment and supplementation of certain clauses of Article 14

1. Amend and supplement Clause 2 as follows:
   Replace the term "Banking Inspection and Supervision Agency" with the term "Non-Bank Credit Institution Supervision Department".

2. Add Clause 2a after Clause 2 as follows:
   "2a. In cases of changing the address of the head office of representative offices and business units but not generating changes in the head office location, non-bank credit institutions have documents notifying the Regional Branch where the representative office and business unit are located about the change of information and address of the head office of representative offices and business units within 05 working days from the date of the change."

Article 7. Amendment and supplementation of point b, Clause 2, Article 18 (as amended and supplemented by Clause 2, Article 21 of Circular No. 09/2025/TT-NHNN)

"b) Within 11 working days from the date of receipt of the complete and valid dossier specified in Clause 1 of this Article, the Regional Branch issues a document responding to the request of the non-bank credit institution; in case of disapproval, the document must state the reasons."

Article 8. Amendment and supplementation of Article 19

"1. Branches, representative offices, and business units of non-bank credit institutions are considered for suspension of operations, liquidation, and termination in the following cases:
a) The application dossier for the establishment of branches, representative offices, and business units contains false information leading to the establishment of branches, representative offices, and business units of non-bank credit institutions that do not meet the conditions for establishment; b) Operations do not comply with the content of operations permitted by law.

2. Upon discovering that a non-bank credit institution falls under one of the cases prescribed in Clause 1 of this Article, the Regional Branch where the branch, representative office, or business unit of the non-bank credit institution is located:
   a) Proposes to the State Bank (Non-Bank Credit Institution Supervision Department) to suspend operations and liquidate the branch of the non-bank credit institution; b) Issues a document requiring the non-bank credit institution to suspend operations and terminate representative offices and business units.

3. Within 11 working days from the date of receipt of the document proposing the suspension of operations and liquidation of the branch of the non-bank credit institution from the Regional Branch according to Clause 2 of this Article or during the process of inspection and supervision discovering the cases prescribed in Clause 1 of this Article, the Non-Bank Credit Institution Supervision Department issues a document requiring the non-bank credit institution to suspend operations and terminate branches.

4. Within 90 days from the date the Regional Branch issues a document requiring the non-bank credit institution to suspend operations and terminate representative offices and business units according to Clause 2 of this Article and the State Bank issues a document requiring the non-bank credit institution to suspend operations and terminate branches according to Clause 3 of this Article, the non-bank credit institution must proceed with legal procedures according to the provisions of law to suspend operations and terminate branches, representative offices, and business units; and send a report to the State Bank (Non-Bank Credit Institution Supervision Department) and the Regional Branch where the branch, representative office, or business unit is located regarding the results of suspension of operations and termination of branches, representative offices, and business units.

5. Within 05 working days from the date of receipt of the report prescribed in Clause 4 of this Article, the Regional Branch has the responsibility to notify by document the information on the suspension of operations and termination of branches, representative offices, and business units reported by the non-bank credit institution in Clause 4 of this Article to the provincial-level business registration agency."

Article 9. Addition of Clause 2a, Clause 2b after Clause 2 of Article 21

"2a. Bears responsibility for the organization and operations of branches; reports to the Regional Branch where the branch is located on the handling of issues arising related to the organization and operations of branches within the locality; 2b. Regularly manages and supervises the operations of branches."

Article 10. Amendment and supplementation of Article 22

"Article 22. Responsibilities of the Regional Branch where the non-bank credit institution is located at the branch, representative office, or business unit

1. Bears responsibility before the Governor for implementing issues according to the authority prescribed in this Circular.
2. Receives dossiers, approves or disapproves matters according to the authority prescribed in Clause 2, Article 4 of this Circular.
3. Manages, inspects, checks, and supervises the operations of branches, representative offices, and business units of non-bank credit institutions within the locality.
4. Within 05 working days from the date of receipt of the report from the non-bank credit institution specified in Clause 1a, Article 21 of this Circular, the Regional Branch has the responsibility to notify by document the information on the change of the head of the branch or equivalent position, the person in charge of the representative office, and the business unit of the non-bank credit institution reported in Clause 1a, Article 21 of this Circular to the provincial-level business registration agency.
5. Cooperates with the Non-Bank Credit Institution Supervision Department to handle issues arising related to the organization and operations of branches, representative offices, and business units of non-bank credit institutions within the locality.
6. Participates in opinions with the Non-Bank Credit Institution Supervision Department according to the provisions in point c, Clause 1, Article 10 of this Circular.
7. Issues documents to the State Bank (via the Non-Bank Credit Institution Supervision Department) according to the provisions in Clause 2, Article 19 of this Circular.
8. Receives reports and notifications from non-bank credit institutions according to the provisions in this Circular."

Article 11. Amendment and supplementation of Article 23

"Article 23. Responsibilities of Departments and Offices in the State Bank

1. Responsibilities of the Non-Bank Credit Institution Supervision Department
   a) Bears responsibility before the Governor of the State Bank for implementing issues according to the authority prescribed in this Circular; b) Regularly receives, considers, and submits to the Governor for approval or disapproval according to the provisions in Clause 1, Article 4 of this Circular; c) Sends documents to the Regional Branch approving matters in Clause 1, Article 4 of this Circular. The Regional Branch notifies the provincial-level business registration agency; d) Cooperates with the Regional Branch to handle issues arising related to the organization and operations of branches, transaction offices, representative offices, and business units of non-bank credit institutions; e) Receives reports and notifications from non-bank credit institutions according to the provisions in this Circular; f) Supervises non-bank credit institutions to maintain the value of charter capital at a minimum equal to the level of legal charter capital.

2. Responsibilities of related Departments and Offices in the State Bank
   a) In the process of inspection to discover cases prescribed in Clause 1, Article 19 of this Circular, the State Bank Inspection Office has the responsibility to provide information to the Non-Bank Credit Institution Supervision Department. The Non-Bank Credit Institution Supervision Department submits to the Governor a document requiring the non-bank credit institution to suspend operations and liquidate branches; b) Within 03 working days from the date of receipt of the document proposing the suspension of operations of the non-bank credit institution according to the provisions in Article 11, Article 15, Article 20 of this Circular, the State Bank Office has the responsibility to post the information on the electronic information portal of the State Bank; c) Departments, Offices, and units in the State Bank have the responsibility to participate in opinions on issues related to the content of the Governor's decisions of the Non-Bank Credit Institution Supervision Department and provisions in this Circular."

Article 12. Amendment and supplementation of Article 26

"Article 26. Responsibilities of implementing organizations

All units under the State Bank and non-bank credit institutions are responsible for implementing this Circular."

Article 13. Amendment and supplementation of the Appendix issued together with Circular No. 53/2018/TT-NHNN

Replace the Appendix issued together with Circular No. 53/2018/TT-NHNN with the Appendix issued together with this Circular.

Article 14. Implementation provisions

1. This Circular takes effect from January 03, 2026.

2. This Circular repeals:
   a) Clause 1, Clause 2, Clause 10, Clause 13, Article 1 of Circular No. 31/2024/TT-NHNN of the Governor of the State Bank of Vietnam amending and supplementing certain articles of Circulars regulating the implementation of administrative procedures in the field of banking establishment and operations; b) Article 19, Article 23, and the Appendix issued together with Circular No. 09/2025/TT-NHNN amending and supplementing certain articles of certain Circulars of the Governor of the State Bank of Vietnam in the field of banking management related to business registration documents and simplification of administrative procedures.

Article 15. Responsibilities for implementation

All units under the State Bank and non-bank credit institutions are responsible for implementing this Circular.

Recipients:

• Ministry of Justice;
• Office of the Government;
• Ministry of Justice (for inspection);
• Gazette;
• Electronic Information Portal of the State Bank;
• Archive: VP, ATHT (03 copies).

GOVERNOR

NGOC

(Signed)

Dinh Thi Son

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APPENDIX
ISSUED TOGETHER WITH
CIRCULAR NO. 13/2026/TT-NHNN
OF THE GOVERNOR
OF THE STATE BANK OF VIETNAM

Date: day/month/year 2026

SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

REQUEST FOR APPROVAL FOR ESTABLISHMENT OF BRANCHES, REPRESENTATIVE OFFICES/BUSINESS UNITS OF NON-BANK CREDIT INSTITUTIONS

To:

Company Code/Tax Code: ....................
Name of non-bank credit institution: ....................
Issued by: .................... on: ....................

Full name of non-bank credit institution: ....................
Address: ....................
Phone: ....................

We request approval for the following conditions for the establishment of branches/representative offices/business units:

I. Network unit requested
Establishment of branch, representative office, business unit:

1. Name:
   a. Full name in Vietnamese; name written in Vietnamese (if any); b. Full name in foreign language (if any); name written in foreign language (if any).
2. Location for registration of the head office.

II. Assessment of whether the non-bank credit institution meets conditions for the establishment of branches
Date: .... month .... year ....

1. For non-bank credit institutions with operation time from 12 months or more calculated from the date of opening operations to the date of request:
   1.1. Net profit after tax of the previous year to the year of request:

• According to the audited consolidated financial report.
• According to the audited separate financial report.
  1.2. Time of request is not subject to legal sanctions prohibiting the expansion of operations:
  a. Complies o b. Does not comply o
  1.3. Charter capital for the period of 3 months to 12 months prior to the year of request and the time of request (according to financial reports audited for the year prior to the year of request and the time closest to the time of request (if any)):
  1.4. Has a network system according to regulations:
  a. Complies o b. Does not comply o
  1.5. Has a plan for the establishment of branches according to regulations:
  a. Complies o b. Does not comply o
  1.6. At the time of request, the non-bank credit institution has a Charter, and the General Meeting of Shareholders, Board of Directors, Board of Auditors, Internal Audit Department, and Internal Control System comply with the provisions in laws and guidelines of the State Bank, while being supervised by:
  a. Complies o b. Does not comply o

2. For non-bank credit institutions with operation time less than 12 months from the date of opening operations to the date of request:
   2.1. Ratio of bad debts to total loans at the time closest to the time of request:
   a. Complies o b. Does not comply o
   2.2. Has contents at points 1.2, 1.4, 1.5, 1.6, Clause 1, Section II of this Appendix.

Assessment of whether the non-bank credit institution meets conditions for the establishment of representative offices and business units:
At the time of request, the non-bank credit institution is not subject to legal sanctions prohibiting the expansion of operations:
a. Complies o b. Does not comply o

The non-bank credit institution certifies the accuracy and truthfulness of the information provided in this document.

Assessment of the dossier
(Note attached documents)

LEGAL REPRESENTATIVE OF THE NON-BANK CREDIT INSTITUTION

(Signature and full name)