On June 22, 2021, the State Bank of Vietnam (SBV) issued Document No. 4430/NHNN-TTGSNH allowing the Southeast Asia Commercial Joint Stock Bank (SeABank) to increase its charter capital.
Accordingly, the SBV has approved of SeABank's request to increase its charter capital by the maximum amount of VND 2,697,441,610,000 (Two thousand six hundred ninety-seven billion, four hundred forty-one million, six hundred ten thousand Vietnamese Dongs) through the means of issuing additional shares (i) to pay dividends from the remaining profit after having set aside the general provisions for 2020; (ii) for the existing shareholders; and (iii) in line with the optional program for SeABank’s staff in 2021 as adopted by the General Shareholders’ Meeting of SeABank in Resolution No.07 dated April 23, 2021.
SeABank 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.
Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, SeABank 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