Circular 13/2026/TT-NHNN: Amendments to Branch and Representative Office Network Rules for Non-Bank Credit Institutions
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Based on:13/2026/TT-NHNN - Government Official Gazette
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The State Bank of Vietnam (SBV) issued Circular 13/2026/TT-NHNN on 19 May 2026, effective 3 July 2026, amending Circular 53/2018/TT-NHNN on the branch, representative office, and administrative-unit network of non-bank credit institutions - that is, finance companies and financial leasing companies operating under the Law on Credit Institutions. It does not apply to commercial banks or ordinary businesses. Key changes include reallocating approval authority (the SBV Governor decides on establishing or compulsorily terminating branches, while Regional SBV Branch Directors handle relocations, voluntary terminations, and representative offices or administrative units); allowing online filing via the National Public Service Portal using digital signatures; setting concrete processing timelines (21 working days for branches, 11 working days for representative offices); and reissuing the standard application form as an appendix. This is an internal banking-sector administrative circular that directly affects only finance companies and financial leasing companies when they expand or scale back their branch networks. It contains no provisions on VAT, corporate income tax, e-invoicing, IFRS/accounting standards, labor, or customs, and has no direct bearing on most SMEs or accountants.
Circular 13/2026/TT-NHNN
Number: 13/2026/TT-NHNN Issued: 19 May 2026 Effective: 3 July 2026 Issuing authority: State Bank of Vietnam (SBV) Amends: Circular 53/2018/TT-NHNN on the operating network of non-bank credit institutions
Scope and applicability
The Circular amends Circular 53/2018/TT-NHNN and applies to non-bank credit institutions (finance companies and financial leasing companies) when establishing, changing, or terminating branches, representative offices, or administrative units. It does not apply to commercial banks or ordinary enterprises.
Approval authority
- SBV Governor: approves the establishment, compulsory termination, or dissolution of branches.
- Regional SBV Branch Director: approves relocations of branch offices within the region, voluntary termination or dissolution of branches, and the establishment, termination, or dissolution of representative offices and administrative units.
Filing principles and channels
Application dossiers must be in Vietnamese, include a document checklist, and be signed by the institution's legal representative. Dossiers may be submitted (i) online via the National Public Service Portal using a digital signature; (ii) in person at the One-Stop Department; or (iii) by postal service. Results are delivered electronically via the online channel, or on paper if the institution requests.
Procedure and processing timelines
For incomplete dossiers, the receiving authority has 7 working days to request supplementation; the institution then has up to 21 working days to supplement. For branch-establishment requests specifically, the Department of Credit Institution Supervision consults SBV Inspection and the relevant Regional SBV Branch (5 days to send the request, 5 days to respond, 11 days to submit to the Governor for a decision). Overall processing time from receipt of a complete dossier: 21 working days for branches, 11 working days for representative offices/administrative units. Institutions must commence operations within 12 months of approval, after which an unused approval automatically lapses.
Address changes (new provision)
Where only the address changes without an actual relocation, the institution need only notify the Regional SBV Branch in writing within 5 working days of the change, without seeking a fresh approval.
Termination and dissolution
A branch, representative office, or administrative unit may be ordered to terminate operations if its establishment dossier contained false information that misrepresented eligibility, or if it operated outside its permitted scope. A Regional SBV Branch that detects such a violation must submit a written request to the Department of Credit Institution Supervision for the Governor's decision (branches) or directly require termination (representative offices/administrative units). Institutions then have 90 days to complete the legal procedures for termination or dissolution and report the outcome.
Responsibilities of relevant units
The Circular clarifies the responsibilities of Regional SBV Branches (receiving dossiers, inspection and supervision, notifying the provincial business registration authority) and the Department of Credit Institution Supervision (lead unit submitting to the Governor, monitoring maintenance of minimum charter capital). The former term «SBV Banking Supervision Agency» is replaced throughout with «Department of Credit Institution Supervision».
Application form and entry into force
The appendix to Circular 53/2018/TT-NHNN is replaced with a new application form requiring institutions to demonstrate compliance with branch-establishment conditions (post-tax profit, bad-debt ratio, network management regulations, branch-establishment scheme, Board of Directors/Supervisory Board structure, no vacancy in the General Director position, etc.). The Circular takes effect on 3 July 2026 and repeals certain clauses of Circular 30/2024/TT-NHNN as well as Articles 19 and 23 and the appendix of Circular 69/2025/TT-NHNN.