On September 16, 2021, the State Bank of Vietnam (SBV) issued Document No. 6622/NHNN-TTGSNH allowing Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) to increase its charter capital.
Specifically, the SBV has approved of the VPBank's request to increase its charter capital by the maximum amount of VND 19,757,987,000,000 (Nineteen thousand seven hundred fifty-seven billion, nine hundred eighty-seven million Vietnamese Dongs) through the means of issuing additional shares to pay dividends from the undistributed profit sources and issuing additional shares to increase its charter capital from the Bank's Development Investment Fund as well as its Reserve Fund for supplementing charter capital, which was adopted by the General Shareholders’ Meeting of VPBank in Resolution No. 02/2021/NQ-DHDCD dated July 28, 2021.
VPBank has the responsibility to increase its charter capital in 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, VPBank is requested to implement the procedures for amending and supplementing its License as prescribed for in Paragraph 4 of 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.
LK