The State Bank of Vietnam (SBV) issued Document No. 9938/NHNN-TTGSNH on December 28, 2016 revising the charter capital written in the License of the establishment and operation of the Viet Nam Thuong Tin Commercial Joint Stock Bank (VietBank).
Accordingly, the SBV Governor allowed VietBank to increase its charter capital from VND 3,000,000,000,000 to VND 3,249,000,000,000 as approved by the General Shareholders in Resolution No. 02/NQ-ĐHĐCĐ.16, dated December 26, 2016.
Following the completion of the procedures for increasing charter capital, VietBank is required to submit the amendments to the charter capital section of the Licence to SBV (through the Soc Trang Branch of the SBV). The SBV Governor also assigned the SBV Soc Trang Branch to direct and supervise VietBank in implementing the above requirements; receiving and evaluating the dossiers for license revision of the new charter capital of VietBank; submit the Governor (through the Agency of Banking supervision and Inspection) to revise the License.
Vietbank is responsible for completing recapitalization in compliance with SBV regulations and all relevant laws. The Document takes effect within 12 months from the date of signing. If the recapitalization scheme approved by the SBV is not completed on time, this document ceases to be effective.
Giang Nguyen