The State Bank of Vietnam (SBV) issued Decision No. 113/QD-NHNN dated January 19th, 2018 revising the charter capital related content in the Establishment and Operation License of HD Saison Finance Company Limited (HD Saison).
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Accordingly, the Governor of the SBV permitted the HD Saison to increase its charter capital from VND 800,000,000,000 (eight hundred billion Vietnam dongs) to VND 1,100,000,000,000 (one trillion one hundred billion Vietnam dongs). At the same time, SBV also amended the contents related to the charter capital in Article 2 of the Establishment and Operation License No. 67/GP-NHNN dated October 31st, 2017 granted to HD Saison Finance Company Limited as follows: "Charter capital: VND 1,100,000,000,000 (One trillion one hundred billion Vietnam dongs)", in which: Ho Chi Minh City Development Joint Stock Commercial Bank owns 50% of charter capital; Credit Saison Co., Ltd (Japan) owns 49% of charter capital; Ho Chi Minh City Securities Joint Stock Company owns 1% of charter capital.
This Decision takes effect from the date of signing and is an integral part of the License No. 67/GP-NHNN dated October 31st, 2017 granted to HD Saison Finance Company Limited.
HD Saison is responsible for amending and supplementing the Charter in accordance with the approved charter capital change. After completion of all recapitalization procedures, the HD Saison is required to submit the revised Charter in its License to the SBV, conducting business registration, publicizing the change and reporting the implementation to SBV (via the Banking Supervision Agency) as stipulated in the Law on Credit Institutions 2010, Law on amendment and supplement of a number of articles of Law on Credit Institutions 2010 and other applicable laws.
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