On August 29th, 2018, the State Bank of Vietnam (SBV) issued Document No. 6515/NHNN-TTGSNH approving the increase of the charter capital of Woori Bank Vietnam Limited (Woori Bank Vietnam).
Accordingly, the SBV Governor approved the increase of the Bank’s charter capital from VND 3,000,000,000,000 dongs (Three trillion Vietnamese dongs) to VND 4,600,000,000,000 dongs (Four thousand six hundred billion Vietnamese dongs) through the Plan to increase the charter capital approved by the parent bank in Decision dated July 24th, 2018.
Woori Bank Vietnam is responsible for carrying out the charter capital increase in compliance with the applicable laws; after the completion of all recapitalization procedures, Woori Bank Vietnam 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 Woori Bank Vietnam is not implemented as scheduled.
VA