The State Bank of Vietnam (SBV) issued Document No. 5728/NHNN-TTGSNH on July 27, 2016 to revise charter capital written in the License of the establishment and operation of Bank SinoPac - HCM City branch.
Accordingly, the SBV Governor allowed Bank SinoPac - HCM City branch to increase its charter capital from USD 25,951,077 to USD 65,951,077.
Bank SinoPac - HCM City branch is responsible to complete the recapitalization in compliance with SBV regulations and relevant laws. After completing the procedures of increasing charter capital, Bank SinoPac - HCM City branch is required to submit the amendments of charter capital at the Licence to SBV.
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, this document cease to be effective.
Giang Nguyen