The State Bank of Vietnam (SBV) issued Document No. 215/NHNN-TTGSNH dated January 9th, 2018 allowing The Siam Commercial Bank Public Company Limited – Hochiminh city Branch (Siam HCM) to increase its charter capital
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Accordingly, the SBV permitted the Siam HCM to increase its charter capital from USD 70,470,717 (Seventy million four hundred seventy thousand seven hundred seventeen US dollars) to USD 100,470,717 (One hundred million four hundred seventy thousand seven hundred seventeen US dollars).
The Siam HCM is responsible for carrying out the charter capital increase in compliance with applicable laws, including the compliance with the regulation on the limits on ownership of shares as stipulated in the Law on Credit Institutions and the SBV’s guiding documents after recapitalization. After completion of all recapitalization procedures, the Siam HCM is required to submit the documents for revising its charter capital in its License to the SBV.
The Document shall be effective within 12 months from the date of signing. The Document will cease to be effective in case that the recapitalization plan of the Siam HCM is not implemented as scheduled.
VA