On October 17, 2022, the State Bank of Vietnam (SBV) issued Document No. 7266/NHNN-TTGSNH allowing Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank) to increase its charter capital.
Accordingly, the SBV has approved of LienVietPostBank's request to increase its charter capital by the maximum amount of VND 5,255,378,980,000 (Five thousand two hundred fifty-five billion, three hundred seventy-eight million, nine hundred eighty thousand Vietnamese Dongs) through the means of issuing additional shares: (i) to pay dividends in 2021 with a maximum amount of VND 2,255,378,980,000 (Two thousand two hundred fifty-five billion, three hundred seventy-eight million, night hundred eighty thousand Vietnamese Dongs), and (ii) for the existing shareholders with a maximum amount of VND 3,000,000,000,000 (Three thousand billion Vietnamese Dongs) in line with the recapitalization plan adopted by the 2022 General Shareholders’ Meeting of LienVietPostBank in its Resolution dated April 28, 2022, and approved by the Board of Directors of LienVietPostBank in Resolution No. 515/2022/NQ-HDQT dated September 26, 2022.
LienVietPostBank is requested to increase its charter capital in compliance with the applicable laws. Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, LienVietPostBank shall implement the procedures for amending and supplementing its License as prescribed for 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 (as amended and supplemented).
This Document is valid within 12 months from the date of its signing.
LK