On October 19, 2022, the State Bank of Vietnam (SBV) issued Document No. 7343/NHNN-TTGSNH allowing An Binh Commercial Joint Stock Bank (ABBank) to increase its charter capital.
Accordingly, the SBV has approved of ABBank's request to increase its charter capital by the maximum amount of VND 990,947,080,000 (Nine hundred ninety billion, nine hundred forty-seven million, eighty thousand Vietnamese Dongs) through the means of: (i) issuing additional shares to pay dividends from the remaining profits of 2021, with a maximum amount of VND 940,947,080,000 (Nine hundred forty billion, nine hundred forty-seven million, eighty thousand Vietnamese Dongs); (ii) issuing additional shares for ABBank’s staff and employees as an optional program with a maximum amount of VND 50,000,000,000 (Fifty billion Vietnamese Dongs) in line with the recapitalization plan adopted by the 2022 General Shareholders’ Meeting of ABBank in its Resolution dated April 20, 2022, and approved by the Board of Directors of ABBank in Resolution No. 11/NQ-HDQT.22 dated September 28, 2022.
ABBank is requested to increase its charter capital in compliance with the applicable laws. Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, ABBank shall implement the procedures for amending and supplementing its License as prescribed for 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 (as amended and supplemented).
This Document is valid within 12 months from the date of its signing.
LK