The Governor of the State Bank of Vietnam (SBV) issued Document No. 63/NHNN-TTGSNH on January 6 to allow the Nam A Joint-Stock Commercial Bank (NAB) to increase its charter capital from VND 3,000 billion to VND 4,000 billion under its Plan on recapitalization approved by the General Shareholders’ Meeting in Resolution No 590/2014/NQDHCD-NHNA dated September 19, 2014 and Resolution No. 747/2014/NQHDQT-NHNA of the Board of Directors dated November 25, 2014.
NAB is responsible for complying with the legal procedures, information and report regime related to recapitalization in accordance with law. In addition, NAB is responsible for requiring its shareholders to comply with the relevant regulations in purchasing its shares. After completion of all the recapitalization procedures, NAB is required to submit the documents on revising its charter capital to the SBV.
This Document is effective within 12 months from the date of signing. It will cease to be effective in case that the recapitalization plan of NAB is not implemented as scheduled, and that its General Shareholders’ Meeting adopts a change of the recapitalization plan which has already been approved by the SBV.
MHN