The State Bank of Vietnam (SBV) issued Document No. 3994/NHNN-TTGSNH on May 31th, 2018 allowing the Military Commercial Joint Stock Bank (MB) to increase its charter capital.
Accordingly, the SBV permitted the MB to increase its charter capital from VND 18,155,053,630,000 (Eighteen thousand one hundred and fifty five billion, fifty three million, six hundred and thirty thousand Vietnamese dongs) to VND 21,604,513,810,000 (twenty-one thousand, six hundred and four billion, five hundred and thirteen million, eight hundred and ten thousand Vietnamese dongs) according to the Plan approved by the General Shareholders’ Meeting of MB in Resolution No. 05/NQ-MB-DHDCD dated March 29th, 2018 and approved by the Board of Directors in Resolution No. 10/NQ-MB-HĐQT dated April 19th, 2018.
MB is responsible for carrying out the charter capital increase in compliance with applicable laws; After completion of all recapitalization procedures, the MB 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 MB is not implemented as scheduled, or that its General Shareholders’ Meeting adopts a change of the recapitalization plan which has already been approved by the SBV.
VA