On December 21, 2023, the State Bank of Vietnam (SBV) issued Document No. 9764/NHNN-TTGSNH approving of the request for of Saigon Commercial Joint Stock Bank (SaigonBank) to increase its charter capital. This Document is valid within 12 months from the date of its signing.
Accordingly, the SBV has approved of SaigonBank's request to increase its charter capital by the maximum amount of VND 308,000,000,000 (three hundred oh eight billion Vietnamese Dongs) by issuing additional shares to pay dividends to the existing shareholders in line with the plan of recapitalization adopted by SaigonBank General Shareholders’ Meeting in Resolution No. 1717/SGB-DHDCD-NQ dated April 27, 2023, and approved by SaigonBank’s Board of Directors in Resolution No. 3236/SGB-HDQT-NQ dated July 31, 2023.
SaigonBank is required to implement the recapitalization plan 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, SaigonBank shall 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.
Le Hang