The State Bank of Vietnam (SBV) issued Document No. 3423/NHNN-TTGSNH on May 19 to allow the Viet A Joint- Stock Commercial Bank (Viet A Bank) to increase its charter capital from VND 3,098 billion to VND 3,500 billion.
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Viet A Bank is responsible for complying with the legal procedures, information and report regime related to recapitalization in accordance with law. In addition, Viet A Bank is responsible for requiring its shareholders to comply with the relevant regulations in purchasing its shares. After completion of all the recapitalization procedures, Viet A Bank is required to submit the documents on revising its charter capital to the SBV.
The Document takes effect within 12 months from the date of signing. The Document will cease to be effective in case that the recapitalization plan of the Viet A Bank is not implemented as scheduled, and that its General Shareholders’ Meeting adopts a change of the recapitalization plan which has already been approved by the SBV.
Le Hang