On October 1st, 2018, the State Bank of Vietnam (SBV) issued Document No. 7479/NHNN-TTGSNH on the increase of charter capital of the Viet Capital Joint Stock Commercial Bank (VCCB).
Accordingly, the SBV Governor approved the increase of the Bank’s charter capital from VND 3,000,000,000,000 (Three trillion Vietnamese dongs) under a plan to increase the charter capital, which has been approved by the General Shareholders’ Meeting of VCCB as stipulated in Resolution No. 01A/18/NQ-ĐHĐCĐ dated April 27th, 2018 and approved by Board of Directors of VCCB in Resolution No. 92/18/QĐ-HĐQT dated July 5th, 2018.
VCCB is responsible for carrying out the charter capital increase in compliance with the applicable laws. Upon completion of all recapitalization procedures, VCCB is required to submit the documents for revising its charter capital in its License to the SBV (via Banking Supervision Agency).
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 VCCB 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