On June 10, 2021, the State Bank of Vietnam (SBV) issued Decision No. 4107/NHNN-TTGSNH allowing Bac A Joint Stock Commercial Bank (BacABank) to increase its charter capital.
Accordingly, the SBV has approved of BacABank's request to increase its charter capital by the maximum amount of VND 446,355,000,000, from the current VND 7,085,000,000,000 through the means of issuing additional shares to pay dividends from the remaining after-tax profit in 2020, after having set aside the funds as required in Resolution No.02/2021/NQ-DHDCD dated April 26, 2021, which was adopted by the General Shareholders’ Meeting of BacABank.
BacABank is requested to increase its charter capital in compliance with the applicable legal regulations; also the Bank is required to implement the procedures for amending and supplementing its License as stated 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, foreign bank branches.
This Document is valid within 12 months from the date of its signing.
LK