On May 10, 2023, the State Bank of Vietnam (SBV) issued Document No. 3391/NHNN-TTGSNH allowing Vietnam International Commercial Joint Stock Bank (VIB) to increase its charter capital. This Document is valid within 12 months from the date of its signing.
Specifically, the SBV has approved of the VIB's request to increase its charter capital by the maximum amount of VND 4,291,345,890,000 (Four thousand two hundred ninety-one billion, three hundred forty-five million, eight hundred ninety thousand Vietnamese Dongs) through the following means:
(i) Issuing bonus shares to existing shareholders with the maximum amount of VND 4,215,345,890,000 (Four thousand two hundred fifteen billion, three hundred forty-five million, eight hundred ninety thousand Vietnamese Dongs), in which the amount from the reserve fund to supplement the charter capital is VND 319,928,000,000, and the amount from the remaining undistributed profit after tax is VND 3,895,417,890,000;
(ii) Issuing bonus shares to the VIB’s staff and employees with the maximum amount of VND 76,000,000,000 (Seventy-six billion Vietnamese Dongs) from the remaining undistributed profit after tax, in line with the plan for increasing the charter capital adopted in Resolution No. 1.001.23.GSM dated March 15, 2023 of the General Shareholders’ Meeting of the VIB, Resolution No. 019.23.BOD dated March 23, 2023 of the Board of Directors of the VIB, and Resolution No. 020.23.BOD dated March 23, 2023 of the Board of Directors of the VIB.
The VIB is requested to increase its charter capital in compliance with the applicable provisions of law, and the charter capital increase can only be conducted after the VIB has ensured full 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, the VIB 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 stipulating the dossiers, sequences and procedures for requesting approval of a number of revised substances by commercial banks, foreign bank branches (as amended and supplemented).
LK