On April 15, 2022, the State Bank of Vietnam (SBV) - Ho Chi Minh City Branch issued Document No. 1000/HCM-TTr2 allowing JPMorgan Chase Bank, N.A. – Ho Chi Minh City Branch (JPM HCM) to increase its contributed capital.
Accordingly, the SBV - Ho Chi Minh City Branch has approved of JPM HCM's request to increase its contributed capital by the amount of USD 123,000,000 (One hundred twenty-three million United States dollars) from its parent bank (JPMorgan Chase Bank, N.A.) in order to increase JPM HCM’s total contributed capital to USD 200,000,000 (Two hundred million United States dollars).
JPM HCM is requested to advise its parent bank (JPMorgan Chase Bank, N.A.) about this acceptance by the SBV – Ho Chi Minh Branch for JPM HCM to increase its contributed capital as mentioned above in order to implement the procedures for increasing JPM HCM’s contributed capital in accordance with the law. The parent bank (JPMorgan Chase Bank, N.A.) is responsible for ensuring the legality of the fund used to increase JPM HCM’s contributed capital.
Within a maximum of 15 working days from the completion date of the increase of the contributed capital, JPM HCM shall have to submit a written request to the SBV – Ho Chi Minh City Branch for revising the contributed capital substance in its License in accordance with the applicable laws.
The Document will cease to be valid if JPM HCM does not complete the above-mentioned increase of the contributed capital within 6 months from the date of its signing.
LK