The State Bank of Vietnam (SBV) issued Document No. 1804/NHNN-TTGSNH on March 21 to allow the KEB Hana Bank – Ho Chi Minh city (HCMC) branch to increase its charter capital from USD 35 million to USD 70 million.
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KEB Hana Bank – HCMC branch is responsible for: (i) developing a plan for and controlling its credit growth in line with the targets approved by the SBV for 2018; (ii) implementing the recapitalization in accordance with the applicable laws; and (iii) submitting the necessary documents requesting for the revision of its charter capital in the License to the SBV upon completion of the recapitalization.
This Document has a validity of 12 months from the date of signature. In case that the recapitalization is not completed within this validity period, this Document will cease to be effective.
Le Hang