On June 15, 2020, the State Bank of Vietnam (SBV) issued Document No. 4348/NHNN-TTGSNH on the recapitalization of the Southeast Asia Commercial Joint Stock Bank (SeABank).
Accordingly, the SBV has approved an increase of SeABank’s charter capital from VND 9,369,000.000.000 (nine thousand three hundred and sixty nine billion Vietnamese dongs) to VND 12,088,000,000,000 (twelve thousand and eighty eight billion Vietnamese dongs) by issuing additional shares to the current shareholders and issuing additional shares to pay dividends in line with SeABank’s Plan on charter capital increase, which was adopted by the General Shareholders at the Resolution of the 2020 General Shareholders’ Meeting on April 29, 2019.
SeABank is responsible for increasing its charter capital in accordance with the law. Within a maximum of 10 working days from the completion of the issuance of the new shares in accordance with law, SeABank has to implement the procedures for amendment and supplementation of its Operation License as stipulated in Paragraph 4, Article 11 of Circular No. 50/2018/TT-NHNN dated December 31, 2018 stipulating the dossiers, sequences and procedures for requesting approval of a number of revised substances by commercial banks and foreign bank branches.
The Document shall be valid within 12 months from the date of its signing.
Le Hang