The State Bank of Vietnam (SBV) issued Document No.3854/NHNN-TTGSNH on May 24, 2017 on revising the charter capital of the Technological Commercial Joint – Stock Bank (Techcombank).
Accordingly, the SBV Governor allowed Techcombank to increase its charter capital from VND 8,878,078,710,000 to VND 13,878,078,710,000 as approved by the General Shareholders in Resolution dated April 15, 2017.
Following the completion of the procedures for increasing charter capital, Techcombank is required to submit the dossier of charter recapitalization section of the License to SBV (through the Banking Agency of Inspection and Supervision).
Techcombank is responsible for implementing the recapitalization in compliance with relevant laws and regulation on limits of shareholding of major shareholders, shareholders being members of the Board of Directors, the Board of Supervisors, the General Director and relevant people as stipulated in the Law on Credit Institutions and SBV guidance after increasing the charter capital.
The Document takes effect within 12 months from the date of signing. If the recapitalization plan approved by the SBV is not completed by Techcombank on time, this document ceases to be effective.
Giang Nguyen