The State Bank of Vietnam (SBV) has issued Document No. 4376/NHNN-TTGSNH allowing Tien Phong Commercial Joint Stock Bank (TPBank) to increase its charter capital.
Accordingly, the SBV has approved of the TPBank's request to increase its charter capital by the maximum amount of VND 1,000,000,000,000 (one thousand billion Vietnamese Dongs) through the means of issuing individual shares in line with the plan for increasing the charter capital mentioned in Resolution No. 01/2021/NQ-TPB.DHDCD dated April 23, 2021, which was adopted by the General Shareholders’ Meeting of the TPBank.
The TPBank is requested to increase its charter capital in compliance with the applicable legal regulations, including the limits on share ownership of shareholders and their related people as stated in the 2010 Law on Credit Institutions (as amended and supplemented in 2017), and the SBV's guiding documents after having completed the charter capital increase. Also in this Document, the TPBank is requested to inform all investors/buyers of the TPBank’s shares to fulfill the shareholders' duties and obligations as prescribed in Articles 54 and 55 of the 2010 Law on Credit Institutions (as amended and supplemented in 2017); 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 (Circular No. 50) and other relevant legal documents.
Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, the TPBank shall implement the procedures for amending and supplementing its License as prescribed in Paragraph 2 of Article 12 of Circular No. 50.
This Document is valid within 12 months from the date of its signing.
LK