On August 28th, 2018, the State Bank of Vietnam (SBV) issued Document No.6487/NHNN-TTGSNH approving the increase of the charter capital of Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank).
Accordingly, the SBV Governor approved the increase of the Bank’s charter capital from VND 3,249,000,000,000 (Three thousand two hundred and forty nine billion Vietnamese dongs) to VND 4,256,190,000,000 (Four thousand two hundred and fifty six billion, one hundred and ninety million Vietnamese dongs) through the issuance of new shares to existing shareholders and the issuance of shares under the optional program for the employees in accordance with the Plan to increase the charter capital adopted by the General Shareholders’ Meeting of VietBank in Resolution No. 24/NQ-DHDCD dated April 26th, 2018, and approved by the Board of Directors of VietBank in Resolution No.01/2018/NQ-DHDCD dated April 24th, 2018 and amended and supplemented in Resolution No.32/2018/NQ-HDQT dated June 14th, 2018.
VietBank is responsible for carrying out the charter capital increase in compliance with the applicable laws; including compliance with the shareholding limits of the shareholders and the related persons as stipulated in the Law on Credit Institutions and the guiding documents of the SBV after the capital increase.
After the completion of all recapitalization procedures, VietBank 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 VietBank 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