On May 13, 2021, the State Bank of Vietnam (SBV) issued Decision No. 3304/NHNN-TTGSNH revising the License of the Asia Joint-stock Commercial Bank (ACB).
Accordingly, the SBV has accepted the ACB's request to increase its charter capital by the maximum amount of VND 5,403,896,150,000, from the current VND 21,615,584,600,000 through the means of issuing additional shares to pay dividends from the profits which can be used after having fully ensured the provisioning requirements for 2020, as well as from the remaining profits of the previous years in line with Resolution No. 1019/TCQD-DHDCD.21 dated April 6, 2021 adopted by the ACB General Shareholders’ Meeting.
Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, the ACB is required to implement the procedures for amending and supplementing its License as stated in Paragraph 4, Article 11 of Circular No. 50/2018/TT-NHNN dated December 31, 2018 stipulating the dossiers, sequences and procedures for requesting approval of a number of revised substances by commercial banks, foreign bank branches.
This Document is valid within 12 months from the date of its signing.
Le Hang