On December 4, 2023, the State Bank of Vietnam (SBV) issued Document No. 9269/NHNN-TTGSNH allowing Bac A Commercial Joint Stock Bank to increase its charter capital.
Accordingly, the SBV has approved of Bac A Bannk's request to increase its charter capital by the maximum amount of VND 1,521,003,620,000 (One thousand five hundred twenty-one billion, three million, six hundred twenty thousand Vietnamese Dongs) by issuing additional shares to pay dividends to the existing shareholders, and by the maximum amount of VND 895,933,640,000 (Eight hundred ninety-five billion, nine hundred thirty-three million, six hundred forty thousand Vietnamese Dongs) through a public offering to the existing shareholders in line with the plan of recapitalization as adopted by Bac A Bank General Shareholders’ Meeting at Resolution No. 02/2023/NQ-DHDCD dated April 22, 2023, and approved by Bac A Bank’s Board of Directors at Resolution No. 137/2023/NQ-HĐQT dated October 23, 2023.
Bac A Bank is required to implement the recapitalization plan 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, Bac A Bank shall implement the procedures for amending and supplementing its License as stated in Paragraph 4 of Article 11, and Paragraph 2 of Article 12 of Circular No. 50/2018/TT-NHNN dated December 31, 2018.
This Document is valid within 12 months from the date of its signing.
Le Hang