On August 20, 2024, the State Bank of Vietnam (SBV) issued Document No. 6865/NHNN-TTGSNH allowing Tien Phong Commercial Joint Stock Bank (TPBank) to increase its charter capital.
Accordingly, the SBV has approved of TPBank's request to increase its charter capital by the maximum amount of VND 4,403,270,010,000 (Four thousand four hundred oh three billion, two hundred seventy million, ten thousand Vietnamese Dongs) by issuing additional shares to the existing shareholders in line with the plan of recapitalization adopted by the Annual Shareholders’ Meeting of TPBank in Resolution No. 01/2024/NQ-TPB.DHDCD dated April 23, 2024, and approved by TPBank’s Board of Directors in Resolution No. 46/2024/NQ-TPB.HDQT dated July 31, 2024.
TPBank is only permitted to increase its charter capital in line with the above mentioned approval after having complied with the applicable laws, including the regulations on the limits of share ownership applied to shareholders, shareholders and their related persons, as stipulated in the Law on Credit Institutions, and the SBV’s guiding documents which are applicable to the recapitalization.
Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, TPBank is requested to 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.
This Document is valid within 12 months from the date of its signing.
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