On July 5, 2022, the State Bank of Vietnam (SBV) issued Document No. 4592/NHNN-TTGSNH allowing Vietnam Thuong Tin Joint Stock Commercial Bank (VietBank) to increase its charter capital.
Accordingly, the SBV has approved of VietBank's request to increase its charter capital by the maximum amount of VND 1,003,133,600,000 through the issuance of additional shares to the existing shareholders in line with VietBank's Plan of Recapitalization, which has been adopted by its General Shareholders’ Meeting.
In the same Document, VietBank is also requested to implement the recapitalization in line with the applicable laws; notify in writing all investors purchasing VietBank’s shares to implement the shareholders’ obligations in line with Article 54 of the 2010 Law on Credit Institutions (as amended and supplemented), Article 12 of Circular No. 50/2018/TT-NHNN dated December 31, 2018 and other relevant legal documents.
Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, VietBank is required to implement the procedures for amending and supplementing its License as stated in Paragraph 2, Article 12 of Circular No. 50/2018/TT-NHNN stipulating the dossiers, sequences and procedures for requesting approval of a number of revised substances by commercial banks, foreign bank branches, and other relevant legal documents.
This Document is valid within 12 months from the date of its signing.
Le Hang