On October 19, 2023, the State Bank of Vietnam (SBV) issued Decision No. 8125/NHNN-TTGSNH allowing the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to increase its charter capital.
Accordingly, the SBV has approved of the BIDV's request to increase its charter capital by a maximum amount of VND 6,419,266,720,000 (six thousand four hundred nineteen billion, two hundred sixty-six million, seven hundred twenty thousand Vietnamese Dongs) in line with the Plan on issuing additional shares to pay dividends from the remaining 2021 post-tax profits, after having set aside all regulatory provisioning (as attached to Document No. 937/BIDV-TC dated October 11, 2023), which had been adopted by the BIDV General Shareholders’ Meeting at Resolution No. 393/2022/NQ-DHDCD dated April 28, 2023.
After the completion of all procedures for the issuance of the additional shares to increase the charter capital in accordance with the laws, the BIDV is required to submit the relevant documents to the SBV requesting for a revision of the charter capital substance in its License as prescribed for in Paragraph 2, Article 12 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.
This Document is valid within 12 months from the date of its signing.
Le Hang