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Viet Nam Tin Nghia Bank allowed to increase charter capital
The Governor of the State Bank of Vietnam (SBV) issued Document No.6711/NHNN-TTGSNH on August 26 to permit the Viet Nam Tin Nghia Joint-Stock Commercial Bank (Viet Nam Tin Nghia Bank) to increase its charter capital to VND 4,588,658,100,000 from VND 3,399,006,000,000 under its recapitalization plan adopted by its General Shareholders’ Meeting on April 8, 2011.
The Viet Nam Tin Nghia Bank is responsible for registering and publicizing its new charter capital in accordance with law . In addition, the Bank is responsible for requiring its shareholders to comply with the applicable laws in buying new shares.
The Bank should send a report on the completion of recapitalization to the SBV (SBV branch in Ho Chi Minh City ) for the new 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 Viet Nam Tin Nghia Bank 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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