According to the Decree, the bank's Vietnamese name is Vietnam Development Bank (abbreviated as Development Bank). International transaction name: Vietnam Development Bank. Abbreviated name is VDB.

The Development Bank has its head office located in Hanoi Capital; has transaction offices and branches in a number of provinces, centrally-run cities and regions; and other affiliated units. Website: www.vdb.gov.vn.

Legal status, legal entity, legal representative

The Development Bank is a policy bank established by the Prime Minister and operates in accordance with the provisions of the Law on Credit Institutions, this Decree and relevant laws.

The Development Bank has legal status, charter capital, and a seal in accordance with the provisions of law. The legal representative of the Development Bank is the General Director.

Development Bank operates not for profit

The Decree clearly states that the Development Bank operates on a non-profit basis to implement the State's socio-economic policies in accordance with the provisions of law.

The Development Bank is guaranteed by the State to have the ability to pay; is compensated for interest rate differences and management fees, and is exempted from paying taxes and other payments to the state budget according to the provisions of law. The Development Bank is not required to maintain compulsory reserves or participate in deposit insurance.

The charter capital of the Development Bank is provided by the state budget and supplemented from the state budget and other legal financial sources according to the provisions of law. The supplement of the charter capital of the Development Bank is implemented according to the provisions of law on the financial management mechanism of the Development Bank.

Responsibilities and powers of the Development Bank

The Development Bank is responsible for: Managing and using the State's capital and assets assigned to the Development Bank; ensuring the safety and preservation of capital and assets in accordance with the provisions of this Decree and relevant laws. Fully and timely repaying principal and interest on capital mobilized by the Development Bank in accordance with its commitments. Complying with regulations on inspection, examination and auditing of competent state management agencies in accordance with the provisions of law...

The Development Bank's authority is to open payment accounts and conduct deposit operations at the State Bank of Vietnam, the State Treasury, domestic and foreign commercial banks in accordance with the law; to open accounts for domestic and foreign customers in accordance with the law. To borrow refinancing capital from the State Bank of Vietnam in accordance with the law. To contribute capital to establish enterprises based on the approval of the Prime Minister's policy.

Business activities of the Development Bank

Capital mobilization activities include: Issuing bonds guaranteed by the Government in accordance with the law; issuing bonds and valuable papers in Vietnamese Dong of the Development Bank in accordance with the law; borrowing from Vietnam Social Security; borrowing from domestic and foreign financial and credit institutions in accordance with the law...

Credit activities include: Lending according to the State's investment credit policy as prescribed by law; credit guarantees for small and medium-sized enterprises borrowing capital from commercial banks according to the Prime Minister's decision promulgating regulations on guarantees for small and medium-sized enterprises borrowing capital from commercial banks; re-lending ODA loans and foreign preferential loans of the Government as prescribed by law...

Entrustment and entrustment receiving activities include: Performing lending activities under trust authorization, allocating capital under trust; guaranteeing under trust authorization; entrusting and receiving entrustment to provide financial and banking services to customers according to the provisions of law.

The financial management mechanism of the Development Bank is implemented according to the Government's regulations. The Development Bank implements the accounting and statistical regime according to the provisions of law and instructions of the Ministry of Finance.

This Decree takes effect from the date of signing (April 29, 2025). The Charter on organization and operation of the Vietnam Development Bank issued together with Decision No. 1515/QD-TTg dated September 3, 2015 of the Prime Minister ceases to be effective from the date this Decree takes effect.

Source: https://phunuvietnam.vn/quy-dinh-moi-ve-to-chuc-va-hoat-dong-cua-ngan-hang-phat-trien-viet-nam-20250430065055.htm