On September 19th, 2018, the State Bank of Vietnam (SBV) issued Document No. 7105/NHNN-TTGSNH on the increase of charter capital of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).
Accordingly, the SBV Governor approved the increase of the Bank’s charter capital from VND 35,977,685,750,000 (Thirty five thousand nine hundred seventy seven billion, six hundred eighty five million, seven hundred fifty thousand Vietnamese dongs) to VND 39,575,454,320,000 (Thirty nine thousand five hundred and seventy five billion, four hundred fifty four million, three hundred and twenty thousand Vietnamese dongs) under a plan to issue individual shares to increase the charter capital of Vietcombank, which has been approved by the General Shareholders’ Meeting of Vietcombank as stipulated in Resolution No.10/TN2017/NQ-DHDCD dated April 28th 2017 and approved by Board of Directors of Vietcombank in Resolution No.54/NQ-VCB-HDQT dated February 5th 2018.
Vietcombank is responsible for carrying out the charter capital increase in compliance with the applicable laws. Upon completion of all recapitalization procedures, Vietcombank 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 Vietcombank 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