Viet A Bank allowed to increase charter capital

The Governor of the State Bank of Vietnam (SBV) issued Decision No.5531/NHNN-TTGSNH on July 26 to permit the Viet A Joint-Stock Commercial Bank (Viet A Bank) to increase its charter capital for 2010.

Accordingly, Viet A Bank is allowed to increase its charter capital to VND 3,000 billion from VND 1,631,801,830,000 under its recapitalization plan approved by the General Shareholders’ Meeting on March 26, 2010.

Viet A Bank is required to comply with applicable laws and other relevant regulations.

The Decision takes effect within 12 months from the date of signing. It will cease to be effective in case that the recapitalization plan of the Bank is not implemented as scheduled, and that the General Shareholders’ Meeting adopts the changes of the recapitalization plan which has already been approved by the SBV.

sbv