On November 27, 2023, the State Bank of Vietnam (SBV) issued Document No. 9139/NHNN-TTGSNH allowing Bac A Joint Stock Commercial Bank (Bac A Bank) to contribute capital in and purchase shares of Vietnam Investors Service and Credit Rating Agency Joint Stock Company (VIS Rating).
Specifically, the SBV has approved of Bac A Bank’s request to contribute capital in and purchase shares of VIS Rating with the maximum amount of VND 5,260,140,000 (Five billion, two hundred sixty million, one hundred forty thousand Vietnamese Dongs) (equivalent to the ownership ratio of 5.1% of the charter capital of VIS Rating), in accordance with a plan adopted by Bac A Bank’s Board of Directors in its Resolution No. 123/2023/QD-HDQT dated September 27, 2023.
Bac A Bank shall be responsible for implementing the procedures for contributing capital in and purchasing shares of VIS Rating in accordance with applicable laws. Moreover, Bac A Bank is also requested to ensure the prudent ratio and the actual value of the charter capital before and at the time of the completion of the capital contribution and share purchase as approved by the SBV.
The Document will cease to be valid if Bac A Bank does not complete the capital contribution and share purchase of VIS Rating within 12 months from the date of its signing.
Le Hang