On December 07, 2021, the State Bank of Vietnam (SBV) issued Document No. 8625/NHNN-TTGSNH allowing the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to increase its charter capital.
Accordingly, the SBV has approved of the BIDV's request to increase its charter capital by the maximum amount of VND 10,365,220,360,000 (Ten thousand three hundred sixty-five billion, two hundred twenty million, three hundred sixty thousand Vietnamese Dongs) through the means of issuing additional shares to pay dividends from the remaining profits accumulated by end of 2019, as well as the after-tax profits, after having set aside the provisioning funds and paid the dividends in cash in 2020, in line with Resolution No. 1411/2021/NQ-DHDCD dated December 5, 2021 which was adopted by the General Shareholders’ Meeting of the BIDV.
After having completed the offering procedures in accordance with the applicable legal regulations on the issuance of new shares to increase a Bank's charter capital, the BIDV is requested to submit the necessary dossiers to the SBV for revising the charter capital in its License as prescribed in Circular No. 50/2018/TT-NHNN dated December 31, 2018 issued by the SBV Governor 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