On August 20th, 2018, the State Bank of Vietnam (SBV) issued Document No.6271/NHNN-TTGSNH approving the increase of the charter capital of Kien Long Commercial Joint Stock Bank (KLB).
Accordingly, the SBV Governor approved the increase of the Bank’s charter capital from VND 3,000,000,000,000 (Three trillion Vietnamese dongs) to VND 3,236,960,000,000 (Three thousand two hundred thirty six billion, nine hundred sixty million Vietnamese dongs) as stipulated in the Plan adopted by the General Shareholders’ Meeting of KLB in Resolution No. 24/NQ-DHDCD dated April 26th, 2018, and approved by the Board of Directors of KLB in Resolution No.14/NQ-HDQT dated May 31st, 2018.
KLB is responsible for carrying out the charter capital increase in compliance with the applicable laws; Upon completion of all recapitalization procedures, KLB is required to submit the documents for revising its charter capital in its License to the SBV.
The Document shall be valid within 12 months from the date of signing. The Document will cease to be valid in case that the recapitalization plan of KLB is not implemented as scheduled, or that its General Shareholders’ Meeting adopts a change in the recapitalization plan, which has already been approved by the SBV.
VA