On December 5, 2018, the State Bank of Vietnam (SBV) issued Document No. 9256/NHNN-TTGSNH approving an increase in the charter capital of the National Commercial Joint Stock Bank (NCB) from VND 3,010,215,520,000 to VND 5,004,601,510,000 through issuing new shares to the NCB’s officers and staff, and its existing shareholders in line with its recapitalization plan adopted by the General Shareholders’ Annual Meeting in Resolution No. 25/NQ.DHDCD 2018 dated April 26, 2018 and approved by the NCB’s Board of Directors in Resolution No. 60/2018/NQ-HDQT dated October 8, 2018.
The NCB is responsible for implementing the recapitalization in accordance with the applicable laws. The NCB shall submit the necessary documents requesting for the revision of its charter capital in the License to the SBV upon completion of the recapitalization.
The Document is valid for a duration of 12 months from the date of signing. The Document will cease to be valid in case that the recapitalization plan of the NCB is not implemented as scheduled, or that its General Shareholders’ Meeting adopts a new change in the recapitalization plan which has already been approved by the SBV.
Le Hang