On September 20, 2019, the State Bank of Vietnam (SBV) issued Document No. 7430/NHNN-TTGSNH approving the increase of the charter capital of Nam A Commercial Joint Stock Bank (Nam A Bank).
Accordingly, the SBV Governor approved the increase of the Bank’s charter capital from VND 3,353,494,210,000 (Three thousand three hundred and fifty three billion, four hundred and ninety four million, two hundred and ten thousand Vietnamese dongs) to VND 3,890,053,280,000 (Three thousand eight hundred and ninety billion, fifty three million, two hundred and eighty thousand Vietnamese dongs) under the Bank’s plan to increase its charter capital, which was approved by Nam A Bank’s General Shareholders Meeting as stipulated in the Resolution of the Annual General Meeting of Shareholders in 2019 and approved by the Board of Directors of Nam A Bank in Resolution No. 171/2019/NQQT-NHNA dated April 17, 2019.
Nam A Bank is responsible for carrying out the charter capital increase in compliance with the applicable laws and the guidance of the SBV in Official Letter No. 1928/NHNN-TTGSNH dated March 21, 2019 on the dividend payments of Nam A Bank in 2018; within a maximum of 10 working days from the date of completion of the issuance of the new shares in accordance with law, Nam A Bank shall implement the procedures for amendment and supplementation of its 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 also clearly states that Nam A Bank and Nam A Bank’s shareholders are responsible for conducting the charter capital increase, paying dividends by shares in accordance with the provisions of the law, the regulations of the SBV and the competent authorities of Vietnam.
The Document shall be valid within 12 months from the date of its signing.
VA