On June 24, 2021, the State Bank of Vietnam (SBV) issued Document No. 4536/NHNN-TTGSNH allowing Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank) to increase its charter capital.
Accordingly, the SBV has allowed LienVietPostBank to increase its charter capital by the maximum amount of VND 1,289,566,690,000 through the means of issuing additional shares as dividend payment to the existing shareholders as proposed by LienVietPostBank in Document No. 4904/2021/LienVietPostBank dated May 18, 2021, in line with the Resolution dated 29 April 2021 adopted by the General Shareholders’ Meeting of LienVietPostBank.
LienVietPostBank 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. LienVietPostBank may only issue additional shares as dividend payment provided that it has fulfilled all requirements prescribed by the existing applicable laws. Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, LienVietPostBank shall implement the procedures for amending and supplementing its License as prescribed in Paragraph 4 of 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