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Techcombank allowed to increase charter capital
The Governor of the State Bank of Vietnam (SBV) issued Decision No.5728/NHNN-TTGSNH on July 26 to permit the Technological and Commercial Joint-Stock Bank (Techcombank) to increase its charter capital to VND 8,788,078,710,000 from VND 6,932,183,710,000 under its recapitalization plan approved by the General Shareholders’ Meeting on April 23, 2011.
Techcombank is responsible for registering and publicizing its new charter capital in accordance with law. Additionally, the Bank is required to send the Document with the attachment of business registration with the new charter capital to the SBV (SBV branch in Hanoi) for approval of the charter capital adjustment in its License.
This Document takes effect within 12 months from the date of signing. It will cease to be effective in case that recapitalization of Techcombank is not implemented as scheduled, and that the General Shareholders’ Meeting adopts the change of the recapitalization plan which has already been approved by the SBV.
SBV
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