On December 23, 2021, the State Bank of Vietnam (SBV) issued Document No. 9055/NHNN-TTGSNH on the recapitalization of Viet A Joint Stock Commercial Bank (VietABank).
Accordingly, the SBV has allowed VietABank to increase its charter capital by the maximum amount of VND 950 billion through the means of issuing additional shares to pay dividends from the profit after tax, which had not been distributed by December 31, 2020, in line with the Plan adopted by the 2021 Annual General Shareholders’ Meeting of VietABank at Resolution No. 119/2021/NQ-HDQT dated August 4, 2021.
VietABank is responsible for implementing the recapitalization in line with the applicable laws and regulations.
Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, VietABank 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