Please let us about the List of legal capital rates of credit institutions?
On 22 November 2006, the Government issued the List of legal capital rates of credit institutions attached to Decree No.141/2006/ND-CP. (“Decree 141”) replacing the List of legal capital rates of credit institutions attached to Decree No. 82/1998/ND-CP dated 3 October 1998 (Decree 82).
Under this Decree 141, to the year of 2008, the legal capital for setting up a joint-stock commercial bank shall be of VND 1,000 billion. This volume is much more than that was regulated in Decree 82 being of VND 70 billion. As for commercial banks established after the day of 31 December 2008, the legal capital shall be of VND 3000 billion. While the legal capital applicable to joint-venture banks is increased from US$10 million to VND 1,000 billion, the legal capital applicable to branches of foreign banks remains unchanged being US$ 15 million.
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