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The State Bank of Vietnam (SBV) made decision to end up the operation of a foreign bank named ABN AMRO N.V branch in Hanoi from March 15, 2010.

According to the decision, ABN AMRO’s branch in Hanoi has to stop all banking transactions like deposit, lending, borrowing, etc.

Simultaneously, this bank also has to disseminate information through 3 consecutive periods of a central and local newspaper that executes the liquidation procedures following the current regulation.

ABN AMRO N.V Bank – Hanoi branch was established and run in Vietnam since 1995 with the initial charter capital of $15 million. On March 9, 2009, SBV allowed this bank to raise capital to $19 million.

ABN AMRO Bank N.V. is a Dutch state-owned bank with head office located in Amsterdam. It was re-established, in its current form, in 2009 following the acquisition and break up of ABN AMRO Group by a banking consortium consisting of Royal Bank of Scotland Group, Santander and Fortis. Following the collapse of Fortis, the acquirer of the Dutch business, it was nationalized by the Dutch government along with Fortis Bank Nederland.