On March 13th, 2019, the State Bank of Vietnam (SBV) issued Document No. 1528/NHNN-TTGSNH approving the increase of the charter capital of the Bank of China (Hong Kong) Limited - Ho Chi Minh City Branch.
Accordingly, the SBV Governor approved the increase of the Bank’s charter capital from 100 million USD (one hundred million United States dollars) to 180 million USD (one hundred and eighty million United States dollars).
The Bank of China (Hong Kong) Limited - Ho Chi Minh City Branch is responsible for: (i) developing plans and administrating the credit growth in line with the targets approved by the SBV in 2019; (ii) implementing the approved capital increase in accordance with the current laws; (iii) within 15 working days from the date of completion of the recapitalization, the Bank of China (Hong Kong) Limited - Ho Chi Minh City Branch has to submit to the SBV a written request for amendment of the charter capital stipulated in the Bank’s License issued by the SBV.
This document is valid for 6 months from the date of signing.
VA