On October 17, 2024, the State Bank of Vietnam (SBV) issued Document No. 8520/NHNN-TTGSNH allowing Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank) to increase its charter capital.
Accordingly, the SBV has approved of Vietbank's request to increase its charter capital by the maximum amount of VND 1,427,883,180,000 (One thousand four hundred twenty-seven billion, eight hundred eighty-three million, one hundred eighty thousand Vietnamese Dongs) by the means of issuing shares to pay dividends in line with the Recapitalisation Plan which had been adopted by the Annual General Shareholders’ Meeting of Vietbank at Resolution No. 01/2024/NQ-DHDCD dated April 26, 2024, and approved by Vietbank’s Board of Directors at Resolution No. 144/2024/NQ-HDQT dated September 24, 2024, and Resolution No. 148/2024/NQ-HDQT dated October 3, 2024.
Vietbank is also requested to implement the charter capital increase 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, Vietbank 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.
This Document is valid within 12 months from the date of its signing.
HP