Sacombank allowed to increase charter capital

The Governor of the State Bank of Vietnam (SBV) issued Document No.5205/NHNN-TTGSNH to permit the Sai Gon Thuong Tin Joint-Stock Commercial Bank (Sacombank) to increase its charter capital to VND 10,739,699,240,000 from VND 9,179,483,610,000.

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

The Governor asked the SBV Branch in Hochiminh city to appraise the documents submitted by the Bank and submit to the Governor for the approval of its charter capital increase in compliance with the applicable regulations.

This Document remains effective within 12 months from the date of signing. It will cease to be effective in case that the Sacombank’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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