Nam A Bank allowed to increase charter capital for 2010

The Governor of the State Bank of Vietnam (SBV) issued Decision No.6464/NHNN-TTGSNH on August 25 to permit the Nam A Joint –Stock Commercial Bank (Nam A Bank) to increase its charter capital to VND 3,000 billion from VND 2,000 billion under its recapitalization plan approved by the General Shareholders’ Meeting on March 15, 2010 and Resolution No.308/2010/NQQT-NHNA of the Board of Directors dated August 4, 2010 on recapitalization in the fiscal year of 2010.

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

This 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 Nam A 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.

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