The State Bank of Vietnam (SBV) issued Document No. 6993/NHNN-TTGSNH on August 31 to allowed Vietnam Prosperity Joint – Stock Commercial Bank (VPBank) to increase its charter capital.
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Accordingly, VPBank is permitted to increase its charter capital from VND 14,059,086,350,000 to VND 15,706,230,150,000 upon the request of VPBank under its recapitalization plan approved by the General Shareholders’ Annual Meeting in Resolution No. 01/2017/BB-ĐHĐCĐ-VPBank dated April 10, 2017 and approved by the VP’s Board of Directors in Resolution No. 732/2017/NQ-ĐHĐCĐ dated July 7, 2017.
The VPBank is responsible for complying with applicable laws, Law on Credit Institutions and SBV’s guiding documents. After completion of all the recapitalization procedures, VPBank is required to submit the documents on revising its charter capital to the SBV (via Banking Supervision Agency).
This Document took effect on the date of signing. The Document will cease to be effective in case that the recapitalization plan of the VPBank is not implemented as scheduled, and that its General Shareholders’ Meeting adopts a change of the recapitalization plan which has already been approved by the SBV.
Le Hang