Circular No. 15/2026/TT-NHNN Amending and Supplementing Certain Articles of Circulars on Credit Institutions Being Cooperatives Related to Cutting Back, Decentralizing, and Simplifying Administrative Procedures

STATE BANK OF VIETNAM
SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

No. 15/2026/TT-NHNN
Hanoi, May 14, 2026

STATE BANK OF VIETNAM
LEGAL FRAMEWORK

APPROVED

No. 43../ .5.., / c2024

CIRCULAR

Amending and supplementing certain articles of certain Circulars on credit institutions being cooperatives related to cutting back, decentralizing, and simplifying administrative procedures

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12; Pursuant to the Law on Credit Institutions No. 32/2024/QH15, amended and supplemented by Law No. 96/2025/QH15; Pursuant to the Law on Cooperatives No. 17/2023/QH15; Pursuant to Decree No. 26/2025/ND-CP of the Government specifying the functions, duties, and powers of the organizational structure of the State Bank of Vietnam;

According to the conference of the Head of the Department of Security of the Credit System;

At the proposal of the Governor of the State Bank of Vietnam issuing the Circular amending and supplementing certain articles of certain Circulars on credit institutions being cooperatives related to cutting back, decentralizing, and simplifying administrative procedures.

Chapter I
AMENDMENTS AND SUPPLEMENTS TO CERTAIN ARTICLES OF CIRCULAR NO. 01/2025/TT-NHNN REGULATING THE ISSUANCE OF FIRST-LICENSE, RENEWAL OF LICENSES FOR PEOPLE'S CREDIT FUNDS, WHICH HAVE BEEN AMENDED AND SUPPLEMENTED BY CIRCULAR NO. 63/2025/TT-NHNN

Article 1. Amending, supplementing, and abolishing certain points and clauses of Article 8

1. Abolish points b, c of clause 5.

2. Amend and supplement clause 7 as follows:
   "7. A certified copy of the Decision on establishment or the Charter with legal validity (for members that are legal entities)."

Article 2. Amending and supplementing clause 1 of Article 9

"1. The Regional State Bank Office shall exploit necessary information from national databases and specialized databases when reviewing and assessing information regarding the business registration of members of the people's credit fund that are legal entities; residence, legal history, diplomas, certificates proving level and profession of personnel proposed for election or appointment as Chairman and members of the Board of Management, Head and members of the Supervisory Board, and Director of the people's credit fund.

In cases where information cannot be exploited from national databases or specialized databases, or if the exploited information is incomplete, the Regional State Bank Office shall request the credit institution to supplement documents, academic papers, or verification documents from competent authorities as prescribed by law to prove information regarding the business registration of members of the people's credit fund that are legal entities; information regarding residence, diplomas, and certificates proving level and profession of personnel proposed for election or appointment as Chairman, members of the Board of Management, Head, members of the Supervisory Board, and Director of the people's credit fund."

Article 3. Supplementing clause 8 into Article 18

"8. Have a request for the competent authority managing the database on legal history to provide information related to the legal history of personnel proposed for election or appointment as Chairman, members of the Board of Management, Head, members of the Supervisory Board, and Director of the people's credit fund as prescribed by law in cases where information related to legal history cannot be exploited from national databases or specialized databases, or if the exploited information is incomplete."

Article 4. Amending and supplementing point 4 of Appendix No. 04

"4. Capacity for civil acts; information on prohibition of holding positions, establishment, and management of enterprises and cooperatives (for counterparts to legal history forms without this information)."

Chapter II
AMENDMENTS AND SUPPLEMENTS TO CERTAIN ARTICLES OF CIRCULAR NO. 53/2025/TT-NHNN REGULATING THE OPERATION OF CREDIT INSTITUTIONS BEING COOPERATIVES

Article 5. Amending and supplementing certain points and clauses of Article 4

1. Amend and supplement clause 2 as follows:
   "2. The Head of the Department of Management and Supervision of Credit Institutions shall review:
   a) Approval for the establishment of a transaction office of the cooperative bank; b) Mandatory suspension of operations, dissolution of the transaction office of the cooperative bank."

2. Amend and supplement points a, b of clause 3 as follows:
   "a) Approval for the establishment of a representative office, public service unit; change of location shall be faster, transaction offices of the cooperative bank on the same territory (including cases of changing location before commencement of operations); b) Approval for voluntary suspension of operations, dissolution of branches, transaction offices; mandatory suspension of operations, dissolution of representative offices, public service units of the cooperative bank;"

Article 6. Abolish point b of clause 3 of Article 13

Article 7. Amending and supplementing certain clauses of Article 14

1. Amend and supplement clause 6 as follows:
   "6. Within 30 working days (for cases of establishing branches) from the date of receiving a written confirmation of receipt of a complete and valid dossier as prescribed in Article 13 of this Circular, the State Bank of Vietnam shall issue a written approval for the request to establish a branch of the cooperative bank according to the model prescribed in Appendix II issued together with this Circular. In case of non-approval, the State Bank of Vietnam shall issue a written document to the cooperative bank and state the reasons.

Within 30 working days (for cases of establishing transaction offices) from the date of receiving a written confirmation of receipt of a complete and valid dossier as prescribed in Article 13 of this Circular, the Department of Management and Supervision of Credit Institutions shall issue a written approval for the request to establish a transaction office of the cooperative bank according to the model prescribed in Appendix III issued together with this Circular. In case of non-approval, the Department of Management and Supervision of Credit Institutions shall issue a written document to the cooperative bank and state the reasons.

Within 10 working days (for cases of establishing representative offices, public service units) from the date of receiving a written confirmation of receipt of a complete and valid dossier as prescribed in Article 13 of this Circular, the Regional State Bank Office branch shall issue a written approval for the request to establish a representative office, public service unit of the cooperative bank according to the model prescribed in Appendix III issued together with this Circular. In case of non-approval, the Regional State Bank Office branch shall issue a written document to the cooperative bank and state the reasons."

2. Amend and supplement clause 7 as follows:
   "7. Within 12 months from the date the State Bank of Vietnam, the Department of Management and Supervision of Credit Institutions, or the Regional State Bank Office branch issues a written approval for establishment as prescribed in clause 6 of this Article, the cooperative bank must commence operations of its branches, transaction offices, representative offices, and public service units. If operations are not commenced after this period, the approval shall automatically expire."

Article 8. Amending and supplementing point b of clause 2 of Article 25

"b) Within 10 working days from the date of receiving a complete dossier as prescribed in clause 1 of this Article for cases of voluntary suspension of operations, dissolution of branches; or within 07 working days from the date of receiving a complete dossier as prescribed in clause 1 of this Article for cases of voluntary suspension of operations, dissolution of transaction offices, the Regional State Bank Office branch shall issue a written approval for the request of the cooperative bank according to the model prescribed in Appendix VII issued together with this Circular. In case of non-approval, the Regional State Bank Office branch shall issue a written document to the cooperative bank and state the reasons."

Article 9. Amending and supplementing Article 26

"Article 26. Mandatory Suspension of Operations, Dissolution of Branches, Transaction Offices, Representative Offices, and Public Service Units of Cooperative Banks

1. Branches, transaction offices, representative offices, and public service units of cooperative banks shall be subject to mandatory suspension of operations and dissolution when falling into one of the following cases:
   a) Evidence proves that the dossier requesting establishment of branches, transaction offices, representative offices, or public service units contains false information leading to an incorrect assessment of meeting the conditions for establishment; b) Change of location of branches or transaction offices without written approval; c) Operations not in accordance with the scope of operations and operational territory permitted by law.

2. Upon discovering cases prescribed in clause 1 of this Article, the Inspectorate of the State Bank of Vietnam or the Regional State Bank Office branch where the branch or transaction office is located shall issue a document to the Governor of the State Bank of Vietnam (for cases of suspension of operations, dissolution of branches) or the Head of the Department of Management and Supervision of Credit Institutions (for cases of suspension of operations, dissolution of transaction offices) requesting suspension of operations or dissolution of branches or transaction offices of the cooperative bank, clearly stating the reasons for the request.

3. Within 15 working days from the date of receiving the document requesting suspension of operations or dissolution of branches or transaction offices of the cooperative bank as prescribed in clause 2 of this Article, or during the supervision process discovering cases prescribed in clause 1 of this Article, the Department of Management and Supervision of Credit Institutions shall issue a document (for cases of suspension of operations, dissolution of transaction offices) or submit a document to the Governor of the State Bank of Vietnam (for cases of suspension of operations, dissolution of branches) requiring the cooperative bank to suspend operations or dissolve branches or transaction offices.

4. Upon discovering cases prescribed in clause 1 of this Article, the Inspectorate of the State Bank of Vietnam or the Department of Management and Supervision of Credit Institutions shall issue a document to the Regional State Bank Office branch where the representative office or public service unit is located, requesting suspension of operations or dissolution of representative offices or public service units of the cooperative bank, clearly stating the reasons for the request.

5. Within 15 working days from the date of receiving the document requesting suspension of operations or dissolution of representative offices or public service units of the cooperative bank as prescribed in clause 4 of this Article, or during the supervision process discovering cases prescribed in clause 1 of this Article, the Regional State Bank Office branch shall issue a document requiring the cooperative bank to suspend operations or dissolve representative offices or public service units.

6. Within 90 days from the date the State Bank of Vietnam issues a document requiring the cooperative bank to suspend operations or dissolve branches, transaction offices, representative offices, or public service units as prescribed in clauses 3 and 5 of this Article, the cooperative bank must complete the suspension of operations or dissolution of branches, transaction offices, representative offices, or public service units; and issue a report to the State Bank of Vietnam (for cases of suspension of operations, dissolution of branches, transaction offices) or the Regional State Bank Office branch (for cases of suspension of operations, dissolution of representative offices, public service units) specifying the time and results of suspension of operations or dissolution.

7. Within 12 months from the date the State Bank of Vietnam issues a document requiring the cooperative bank to mandatory suspend operations or dissolve branches, the cooperative bank must have a plan to handle transaction offices managed by branches to ensure compliance with the provisions of this Circular."

Article 10. Amending and supplementing clause 4 of Article 45

"4. Within 03 working days from the date the Regional State Bank Office branch has a record confirming that the cooperative bank has met the conditions as prescribed in clause 4 of Article 15, clause 7 of Article 19 of this Circular, or has a written approval or request as prescribed in clause 6 of Article 14, clause 2 of Article 25, clause 5 of Article 26 of this Circular, or from the date of receiving notifications or reports from the cooperative bank as prescribed in this Circular, the Regional State Bank Office branch shall send a document to the State Bank of Vietnam containing information on the following matters:
a) Commencement of operations of branches, transaction offices, representative offices, and public service units; b) Change of name, location of branches, transaction offices, representative offices, and public service units; c) Voluntary suspension of operations, dissolution of branches, transaction offices, representative offices, and public service units; d) Establishment of representative offices and public service units; e) Mandatory suspension of operations, dissolution of representative offices and public service units."

Article 11. Amending and supplementing point d of clause 1 of Article 46

"d) Provide written approval for the establishment of branches and transaction offices as prescribed in Article 14 of this Circular within 02 working days from the date of written approval for the Regional State Bank Office branch where the cooperative bank intends to locate its branches or transaction offices to notify the business registration authority;"

Article 12. Replacing certain terms and appendices

1. Replace the term "clause 4 of Article 26" with "clause 6 of Article 26" in clause 4 of Article 29.

2. Replace Appendix I and Appendix III issued together with Circular No. 53/2025/TT-NHNN with Appendix I and Appendix III issued together with this Circular.

Chapter III
AMENDMENTS AND SUPPLEMENTS TO CERTAIN ARTICLES OF CIRCULAR NO. 73/2025/TT-NHNN REGULATING ON DOSSIERS, PROCEDURES, AND APPROVAL OF CHANGES, LIST OF PERSONNEL PROPOSED FOR ELECTION OR APPOINTMENT OF CREDIT INSTITUTIONS BEING COOPERATIVES

Article 13. Amending and supplementing point c of clause 1 of Article 6

"c) Documents and materials proving that the credit institution is a cooperative with the right to use or legally own the land plot at the proposed location as prescribed by relevant laws.

For documents and materials proving that the credit institution is a cooperative with the right to use or legally own the land plot at the proposed location, this shall be the Certificate of Land Use Right, Right to Own Attached Assets to Land, and the Land Information Database regarding the Certificate of Land Use Right, Right to Own Attached Assets to Land issued by the competent authority. The credit institution is a cooperative shall supplement information on the Certificate of Land Use Right, Right to Own Attached Assets to Land number in the request document as prescribed in point a of this clause. In this case, the credit institution being a cooperative does not need to submit the Certificate of Land Use Right, Right to Own Attached Assets to Land.

In cases where the State Bank of Vietnam cannot exploit the aforementioned information from the national land database, or if the exploited information is incomplete or inaccurate, the State Bank of Vietnam shall request the credit institution being a cooperative to supplement a copy of the Certificate of Land Use Right, Right to Own Attached Assets to Land."

Article 14. Abolish point d of clause 1 of Article 8

Article 15. Amending and supplementing point b of clause 2 of Article 9

"b) Within 20 days from the date of receiving a valid dossier, the State Bank of Vietnam shall issue a Decision to amend and supplement the License for changing the operation time limit of the credit institution being a cooperative. In case of refusal, the State Bank of Vietnam shall reply in writing and state the reasons."

Article 16. Amending, supplementing, and abolishing certain points of Article 13

1. Abolish point d of clause 1.

2. Amend and supplement point e of clause 1 as follows:
   "e) Diplomas and certificates of personnel proposed for election or appointment proving that they meet the standards and conditions as prescribed by the State Bank of Vietnam, issued by foreign educational institutions recognized by competent authorities of Vietnam as prescribed by relevant laws (if any);"

3. Amend and supplement point a of clause 4 as follows:
   "a) At least 40 days before the date of the proposed General Meeting of Members or the Board of Management (in case of appointment) of the General Director (Director) of the credit institution being a cooperative, the credit institution being a cooperative shall prepare the dossier as prescribed in clause 1 of this Article and submit it to the State Bank of Vietnam.

The State Bank of Vietnam shall exploit necessary information from national databases and specialized databases when reviewing and assessing information corresponding to residence, legal history, diplomas, and certificates proving level and profession of personnel proposed for election or appointment of the credit institution being a cooperative.

In cases where information cannot be exploited from national databases or specialized databases, or if the exploited information is incomplete, the State Bank of Vietnam shall request the credit institution being a cooperative to supplement documents, materials, or verification documents from competent authorities as prescribed by law to prove information regarding residence, diplomas, and certificates proving level and profession of personnel proposed for election or appointment."

Article 17. Supplementing clause 7 into Article 15

"7. Have a request for the competent authority managing the database on legal history to provide information related to the legal history of personnel proposed for election or appointment of the cooperative bank as prescribed by law in cases where information related to legal history cannot be exploited from national databases or specialized databases, or if the exploited information is incomplete."

Article 18. Supplementing clause 10 into Article 16

"10. Have a request for the competent authority managing the database on legal history to provide information related to the legal history of personnel proposed for election or appointment of the people's credit fund as prescribed by law in cases where information related to legal history cannot be exploited from national databases or specialized databases, or if the exploited information is incomplete."

GOVERNOR

Doan Thai Son

Chapter IV
IMPLEMENTATION PROVISIONS

Article 19. Implementation Provisions

This Circular takes effect from May 14, 2026.

Article 20. Responsibilities for Implementation

Heads of agencies under the State Bank of Vietnam, cooperative banks, and people's credit funds are responsible for organizing the implementation of this Circular.

Internal Distribution:

• As per Article 20;
• Leadership of SBV;
• General Secretariat;
• Ministry of Justice (for reference);
• Press;
• Electronic Information Portal of SBV;
• Storage: VT, ATHT (03).

Doan Thai Son

APPENDIX

MODEL OF REQUEST FOR APPROVAL OF ESTABLISHMENT OF BRANCHES, TRANSACTION OFFICES, REPRESENTATIVE OFFICES, AND PUBLIC SERVICE UNITS OF COOPERATIVE BANKS (Issued together with Circular No. 15/2026/TT-NHNN dated May 14, 2026 of the Governor of the State Bank of Vietnam)

SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

No. .../... dated .../.../...

REQUEST FOR APPROVAL OF ESTABLISHMENT OF BRANCHES, TRANSACTION OFFICES, REPRESENTATIVE OFFICES, AND PUBLIC SERVICE UNITS OF COOPERATIVE BANKS

To: State Bank of Vietnam / Department of Management and Supervision of Credit Institutions / Regional State Bank Office Branch

Cooperative Bank:

• Full name in Vietnamese:
• Abbreviated name in Vietnamese (if any):
• Full name in foreign language (if any):
• Abbreviated name in foreign language (if any):
• Cooperative code:
• Enterprise code (if any):
• Head office address:
• Phone number:
• Email address:

Request the State Bank of Vietnam / Department of Management and Supervision of Credit Institutions / Regional State Bank Office Branch to review and approve the establishment of the following branches, transaction offices, representative offices, and public service units:

I. Details of the Requested Unit

1. Establishment of Branch:
   1.1. Branch Name:
   a) Full name in Vietnamese:
   b) Abbreviated name in Vietnamese (if any):
   c) Full name in foreign language (if any):
   d) Abbreviated name in foreign language (if any):
   1.2. Location of Branch Head Office:
2. Establishment of Transaction Office:
   2.1. Transaction Office Name:
   a) Full name in Vietnamese:
   b) Abbreviated name in Vietnamese (if any):
   c) Full name in foreign language (if any):
   d) Abbreviated name in foreign language (if any):
   2.2. Location of Transaction Office Head Office:
   2.3. Name and location of the Branch managing the Transaction Office:
3. Establishment of Representative Office, Public Service Unit:
   3.1. Name of Representative Office, Public Service Unit:
   a) Full name in Vietnamese:
   b) Abbreviated name in Vietnamese (if any):
   c) Full name in foreign language (if any):
   d) Abbreviated name in foreign language (if any):
   3.2. Location of Representative Office, Public Service Unit Head Office:
   3.3. Operational Content:
   3.4. Establishment Reasons:
   3.5. Projected Operational Plan for the First 03 Years.

II. Assessment of the Cooperative Bank Meeting Each Condition for Establishing Branches, Transaction Offices, Representative Offices, and Public Service Units as Prescribed in the Circular

1. Comply fully with regulations on asset classification, provisioning levels, provisioning methods, and use of provisions for risk resolution in operations as prescribed by law within 12 months prior to the date of request; Non-performing loan ratio as prescribed by the State Bank of Vietnam at the time of December 31 of the year preceding the request year and at the end of the month preceding the request date:
   a. Comply [ ] b. Do not comply [ ]

• NPL ratio at December 31, Year ...: ...%.
• NPL ratio at ...: ...%.

2. Organizational structure and operation of the management, executive, Supervisory Board, internal audit departments; internal control system; credit granting operations; limits, guarantees, and collateral in operations ensuring compliance with the Law on Credit Institutions and State Bank of Vietnam guidelines within 12 months prior to the date of request:
   a. Comply [ ] b. Do not comply [ ]
3. Net profit after tax from audited financial reports.
4. Not subject to measures prohibiting the expansion of operations:
   a. Comply [ ] b. Do not comply [ ]
5. Meeting conditions on the number of branches and transaction offices permitted for establishment as prescribed in the Circular:
   a. Comply [ ] b. Do not comply [ ]
6. For cases of establishing transaction offices:

STT	Number of existing branches, transaction offices at the location of the proposed transaction office	Information related to the proposed branch managing the transaction office
		Branch Name	Transaction Office Name
1
		Number of days since the branch commenced operations
		Compliance with regulations on credit granting, lending procedures, loan resolution; asset classification, provisioning, provisioning methods, and use of provisions for risk resolution in operations as prescribed by law within 12 months prior to the date of request
		a. Comply [ ] b. Do not comply [ ]

• Assessment of the cooperative bank regarding the proposed branch managing the transaction office.

III. Legal Representative of the Cooperative Bank Commitment: I am responsible for the accuracy and truthfulness of the information provided in this document.

Attachments: Dossier

LEGAL REPRESENTATIVE
(Write full name and sign)
OF THE COOPERATIVE BANK

APPENDIX

MODEL OF DECISION ON ESTABLISHMENT OF TRANSACTION OFFICES, REPRESENTATIVE OFFICES, AND PUBLIC SERVICE UNITS OF COOPERATIVE BANKS (Issued together with Circular No. 15/2026/TT-NHNN dated May 14, 2026 of the Governor of the State Bank of Vietnam)

SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

DEPARTMENT OF MANAGEMENT AND SUPERVISION OF CREDIT INSTITUTIONS / STATE BANK OF VIETNAM REGIONAL BRANCH

No. .../... dated .../.../...

DECISION

On the establishment of transaction offices, representative offices, and public service units of cooperative banks

HEAD OF DEPARTMENT OF MANAGEMENT AND SUPERVISION OF CREDIT INSTITUTIONS / DIRECTOR OF STATE BANK OF VIETNAM REGIONAL BRANCH

Pursuant to (1);

Considering the request for approval to establish transaction offices, representative offices, and public service units in Document No. ... dated .../.../... of the cooperative bank and attached dossiers;

According to the request (2)

DECIDES:

Article 1. Approve the establishment of transaction offices, representative offices, and public service units of the cooperative bank as follows:

1. Name of transaction office, representative office, public service unit:
   a) Full name in Vietnamese:
   b) Abbreviated name in Vietnamese (if any):
   c) Full name in foreign language (if any):
   d) Abbreviated name in foreign language (if any):
2. Location of transaction office, representative office, public service unit head office:

Article 2. This Decision takes effect from the date of signing.