The State Bank of Vietnam (SBV) issued Document No.5017/QĐ-NHNN on July 5, 2016 to revise charter capital written in the License of the establishment and operation of An Binh Commercial Join Stock Bank (ABBANK).
Accordingly, the SBV Governor allowed ABBANK to increase its charter capital from VND 4.797.999.760.000 to VND 5.320.000.000.000 under its Plan on recapitalization approved by the General Shareholders’ Annual Meeting in Resolution on April 27, 2015.
ABBANK is responsible to complete the recapitalization in compliance with SBV regulations and relevant laws. After completing the procedures of increasing charter capital, ABBANK is required to submit the amendments of charter capital at the Licence to SBV (through Banking Supervision Agency).
The Document takes effect within 12 months from the date of signing. In case the recapitalization approved by the SBV is not completed on time or rejected by General Shareholders’ Annual Meeting of ABBANK, this document cease to be effective.
Nguyen Giang