The Governor of the State Bank of Vietnam (SBV) issued Decision No. 249/QD-NHNN on March 5 to acquire all the stakes of the Vietnam Construction Bank (VNCB) and turning VNCB into the One Member Limited Liability Vietnam Construction Bank under state ownership.
Specifically, the SBV Governor decided to make mandatory acquisition of all stakes of VNCB at the price of VND 0 per share, terminating entire rights, interests and shareholder status of all VNCB shareholders.
At the same time, the SBV decided to turn VNCB into the One Member Limited Liability Vietnam Construction Bank under state ownership, with the charter capital of VND 3,000 billion.
The Decision stated that the One Member Limited Liability Vietnam Construction Bank is responsible for implementing the entire rights, obligations and legal interests of the VNCB; revising the Charter in accordance with laws; adjusting the organizational structure in compliance with Law on Credit Institutions and relevant provisions; registering and re-registering the ownership of assets of the One Member Limited Liability Vietnam Construction Bank in accordance with law; making other adjustments and other changes to be in line with relevant regulations.
This Decision takes effect from the date of signing.
LH