On May 30, 2022, the State Bank of Vietnam (SBV) issued Document No. 3614/NHNN-TTGSNH allowing Viet Capital Commercial Joint Stock Bank (Viet Capital Bank) to increase its charter capital.
Accordingly, the SBV has approved of Viet Capital Bank's request to increase its charter capital by the maximum amount of VND 1,618,360,000,000 (One thousand six hundred eighteen billion, three hundred sixty million Vietnamese Dongs) through the means of issuing additional shares (i) from the equity sources (with a maximum amount of VND 550,635,000,000); (ii) for the existing shareholders (with a maximum amount of VND 917,725,000,000); and (iii) for the existing employees of Viet Capital Bank in line with an optional program (with a maximum amount of VND 150,000,000,000) as adopted by the General Shareholders’ Meeting of Viet Capital Bank in Resolution No. 03/22/NQ-DHDCD dated April 08, 2022, and approved by the Board of Directors of Viet Capital Bank in Resolution No. 62/22/NQ-HDQT dated April 12, 2022.
Viet Capital Bank is requested to increase its charter capital in compliance with the applicable laws and the SBV's regulations. Viet Capital Bank can only conduct its recapitalization plan after having complied with all applicable laws and regulations. Viet Capital Bank is also requested to take responsibilities for informing in writing and requesting all individuals and organizations purchasing its shares to fully implement the obligations of shareholders in accordance with the regulations as stated in Article 54 of the 2010 Law on Credit Institutions (as amended and supplemented in 2017), Circular No. 50/2018/TT-NHNN dated December 31, 2018, and the other applicable provisions of law.
Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, Viet Capital Bank shall implement the procedures for amending and supplementing its License as prescribed in Paragraph 4, 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