The State Bank of Vietnam (SBV) issued Document No. 9609/NHNN-TTGSNH on December 16, 2016 to revise charter capital written in the License of the establishment and operation of Saigon - Hanoi Commercial Joint Stock Bank (SHB).
Accordingly, the SBV Governor allowed SHB to increase its charter capital from VND 9,485,944,610,000 to VND 10,197,019,610,000 as approved in Resolution No.01/NQ-ĐHĐCĐ, dated April 21, 2016.
SHB is responsible to complete the recapitalization in compliance with SBV regulations and relevant laws. After completing the procedures of increasing charter capital, SHB is required to submit the amendments of charter capital at the Licence to SBV. The Document takes effect within 12 months from the date of signing. In case the recapitalization approved by the SBV is not completed on time, this document ceases to be effective.
Giang Nguyen