On August 03, 2022, the State Bank of Vietnam (SBV) issued Document No. 5359/NHNN-TTGSNH allowing Nam A Commercial Joint Stock Bank (Nam A Bank) to increase its charter capital.
Specifically, the SBV has approved of Nam A Bank's request to increase its charter capital by the maximum amount of VND 1,900,000,000,000 (One thousand nine hundred billion Vietnamese Dongs), in which: Increasing the charter capital by the maximum amount of VND 1,229,936,040,000 through the means of issuing additional shares to pay dividends; Increasing the charter capital by the maximum amount of VND 670,063,960,000 through the means of issuing additional shares to increase the share amount from the equity sources in line with the recapitalization Plan that was adopted by the 2022 Annual General Shareholders’ Meeting of Nam A Bank in its Resolution dated April 29, 2022.
Also in the Document, Nam A Bank is requested to increase its charter capital in compliance with the applicable laws, including compliance with the share ownership limits of shareholders, shareholders and their related people in line with the 2010 Law on Credit Institutions (as amended and supplemented), and the SBV's guidance upon completion of the charter capital increase.
Nam A Bank can only conduct its recapitalization plan after having complied with all 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, Nam A Bank shall implement the procedures for amending and supplementing its License as prescribed 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.
LK