On July 3rd, 2019, the State Bank of Vietnam (SBV) issued Document No. 5096/NHNN-TTGSNH approving the increase of the charter capital of Shinhan Bank Vietnam Limited (Shinhan Bank Vietnam).
Accordingly, the SBV approved an increase of Shinhan Bank Vietnam’s charter capital from VND 4,547.1 billion to VND 5,709.9 billion in accordance with Document No.31-2019/SHBVN-SPD dated June 17th, 2019 and the attached documents of Shinhan Bank Vietnam.
The SBV also required Shinhan Bank Vietnam to be responsible for: developing plans and controlling credit growth in line with the targets approved by the SBV in 2019; increasing its charter capital in accordance with the law; within 15 working days from the date of completion of the recapitalization, Shinhan Bank Vietnam has to submit to the SBV a written request for amendment of the charter capital stipulated in the Bank’s License issued by the SBV.
The Document shall be valid within 12 months from the date of signing.
VA