On December 2, 2021, the State Bank of Vietnam (SBV) issued Document No. 8510/NHNN-TTGSNH allowing Tien Phong Commercial Joint Stock Bank (TPBank) to increase its charter capital.
Accordingly, the SBV has approved of the TPBank's request to increase its charter capital by the maximum amount of VND 4,100,851,020,000 (Four thousand one hundred billion, eight hundred fifty-one million, twenty thousand Vietnamese Dongs) through the means of issuing ordinary shares to existing shareholders from the remaining undistributed profit in line with the plan for increasing the charter capital adopted in Resolution No. 02/2021/NQ-TPB.DHDCD dated November 1, 2021 of the General Shareholders’ Meeting of TPBank.
TPBank is requested to increase its charter capital in compliance with the applicable provisions of law, including complying with the limits on share ownership of shareholders and their related people as stated in the 2010 Law on Credit Institutions (as amended and supplemented in 2017), and the SBV's guiding documents upon having completed the charter capital increase. TPBank may only increase its charter capital once it ensured compliance with the applicable provisions of law. Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, TPBank shall implement the procedures for amending and supplementing its License as prescribed in Paragraph 4 of Article 11 of Circular No. 50/2018/TT-NHNN dated December 31, 2018 issued by the SBV Governor 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.
LK