The State Bank of Vietnam (SBV) issued Document No. 3455/NHNN-TTGSNH on May 15 to allow Hanoi branch of NongHyup Bank to increase its charter capital from USD 35 million to USD 80 million.
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Hanoi branch of NongHyup Bank 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