On July 9th, 2019, the State Bank of Vietnam (SBV) issued Document No. 5262/NHNN-TTGSNH approving the increase of the charter capital of the Vietnam International Commercial Joint Stock Bank (VIB).
Accordingly, the SBV approved an increase of the VIB’s charter capital from VND 7,834,672,840,000 (Seven thousand eight hundred and thirty four billion, six hundred and seventy two million, eight hundred and forty thousand Vietnamese dongs) to VND 9,244,913,950,000 (Nine thousand two hundred and forty four billion, nine hundred and thirteen million, nine hundred and fifty thousand Vietnamese dongs) under a plan to increase the charter capital which was adopted by the General Shareholders’ Meeting of the VIB as stipulated in Resolution No. 3.1215.19 dated March 28th, 2019, and approved by the Board of Directors of the VIB in Resolution No. 042.19.1 dated June 3rd, 2019.
The SBV also required the VIB to increase its charter capital in accordance with the law, complying with the regulation on shareholders' ownership limits in compliance with the Law on Credit Institutions and the relevant guiding documents.
Within a maximum of 10 working days from the date of completion of the issuance of the new shares in accordance with law, the VIB shall implement the procedures for the amendment and supplementation of the Operation License as stipulated in Paragraph 4, Article 11 of Circular No. 50/2018/TT-NHNN dated December 31st, 2018 stipulating the dossiers, sequences and procedures for requesting approval of a number of revised substances by commercial banks, foreign bank branches.
The Document shall be valid within 12 months from the date of signing.
VA