GiaDinh Bank allowed to increase charter capital

The State Bank of Vietnam (SBV) issued Document No.6587/NHNN-TTGSNH on August 30 to permit the GiaDinh Joint-Stock Commercial Bank (Gia Dinh Bank) to increase its charter capital for 2010.

Accordingly, the Gia Dinh Bank is allowed to increase its charter capital to VND 3,000 billion from VND 1,000 billion under its recapitalization plan approved by the General Shareholders’ Meeting on March 6, 2010 and Resolution No.115/10/CV-HĐQT of the Board of Directors dated July 29, 2010 on the revision of the  recapitalization plan in 2010.

The Bank is required to undertake legal and reporting procedures related to recapitalization in line  with the applicable laws.

This Document is effective within 12 months from the date of signing. It will cease to be effective in case that the recapitalization plan of the GiaDinh Bank is not carried out as scheduled, and that the General Shareholders’ Meeting adopts a change of the recapitalization plan which has already been approved by the SBV.

Diem Hang

sbv

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