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TPB and FCB allowed to increase charter capital
The Governor of the State Bank of Vietnam (SBV) issued Decision No. 5539/NHNN-TTGSNH and Decision No. 5540/NHNN-TTGSNH on July 26 to permit the Tien Phong Joint-Stock Commercial Bank (TPB) and the First Joint-Stock Commercial Bank (FCB) to increase their charter capitals for 2010.
Accordingly, the TPB is allowed to increase its charter capital to VND 3,000 billion from VND 1,750 billion under its recapitalization plan approved by the General Shareholders’ Meeting on March 26, 2010. The FCB is permitted to raise its charter capital to VND 3,000 billion from VND 1,000 billion under its recapitalization plan approved by the General Shareholders’ Meeting on April 16, 2010.
TPB and FCB are required to comply with applicable laws and other relevant regulations.
These Decisions take effect within 12 months from the date of signing. They will cease to be effective in case that the recapitalization plans of the two Banks are not implemented as scheduled, and that their General Shareholders’ Meetings adopt the changes of the recapitalization plans which have already been approved by the SBV.
Diem Hang
sbv
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