SCB allowed to increase charter capital

The Governor of the State Bank of Vietnam (SBV) issued Decision No. 8105/NHNN-TTGSNH on October 22 to permit the Sai Gon Joint-Stock Commercial Bank (SCB) to increase its charter capital to VND 4,190,602,220,000 from VND 3,635,428,960,000 under its recapitalization plan approved by the General Shareholders’ Meeting on March 27, 2010 and Resolution No.80/2010/NQ-SCB-HĐQT of its Board of Directors dated September 18, 2010 on additional criteria to recapitalization plan.

The Bank is required to comply with the legal and reporting procedures in line with law.

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

Diem Hang

sbv

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