ABBank allowed to increase charter capital

The State Bank of Vietnam (SBV) issued Document No.7498/NHNN-TTGSNH on September 26 to allow the An Binh Joint-Stock Commercial Bank (ABBank) to increase its charter capital from VND 3,830,764,260,000 to VND 4,199,999,760,000 under its recapitalization plan approved by the General Shareholders’ Meeting on July 25, 2011.

ABBank is responsible for registering and publicizing its new charter capital in accordance with the 2010 Law on Credit Institutions and regulations on securities and stock market. Additionally, 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 is effective within 12 months from the date of signing. It will cease to be effective in case that the recapitalization plan of the ABBank is not carried out as scheduled, and that the General Shareholders’ Meeting adopts a change of the recapitalization plan which has already been approved by the SBV.

SBV

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