The State Bank of Vietnam (SBV) issued Document No.7445/NHNN-TTGSNH on October 4, 2016 to revise charter capital written in the License of the establishment and operation of Military Commercial Joint Stock Bank (MB).
Accordingly, the SBV Governor allowed MB to increase its charter capital from VND 16,311,818,180,000 to VND 17,127,409,090,000 under its Plan on recapitalization approved by the General Shareholders’ Annual Meeting in Resolution No. 11/NQ-MB-ĐHĐCĐ on April 16, 2016.
MB is responsible to complete the recapitalization in compliance with SBV regulations and relevant laws. After completing the procedures of increasing charter capital, MB is required to submit the report on amendments of its charter capital to the 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 Vietcombank, this document cease to be effective.
Giang Nguyen