LVB allowed to increase charter capital

Governor Nguyen Van Giau of the State Bank of Vietnam (SBV) issued Decision No. 4856/NHNN-TTGSNH on June 24 to permit the Lien Viet Joint-Stock Commercial Bank (LVB) to increase its charter capital for 2011.

According to this Decision, LVB is allowed to increase its charter capital to VND 6,460 billion from VND 5,650 billion under its recapitalization plan approved by the General Shareholders’ Meeting on May 27, 2011.

LVB is required to comply with applicable laws and the other relevant legal texts.

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

sbv

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