The State Bank of Vietnam (SBV) issued Document No. 4278/NHNN-TTGSNH on June 6 to allow SHB Cambodia Bank, which is a subsidiary of Sai Gon – Hanoi Joint-Stock Commercial Bank (SHB), to increase its charter capital.
Accordingly, the SBV Governor allow the SHB to contribute additional USD 25 million to SHB Cambodia Bank to raise the charter capital of SHB Cambodia Bank form USD 50 million to USD 70 million at the request of SHB in Document No. 253/HĐQT dated October 19, 2016.
SHB is responsible for implementing procedures of revising SHB Cambodia Bank’s Certificate of overseas investment in line with applicable law; complying with current laws on forex management and overseas investment, and other regulations on ensuring safe and sound banking operations before and after contributing additional capital to SHB Cambodia Bank in line with law and SHB’s instruction; reporting the implementation to the SBV (via Banking Supervision Agency, Hanoi Banking Supervision Department).
The SBV Governor assigned Banking Supervision Agency, Hanoi Banking Supervision Department to monitor the implementation of the SHB.
Le Hang