OCB’s revised charter capital approved

The Governor of the State Bank of Vietnam issued Decision No. 95/NHNN-TTGSNH on January 9 to approve the revised charter capital of the Orient Commercial Joint – Stock Bank (OCB).

Accordingly, the SBV Governor approved the charter capital revision of the OCB to bring its charter capital up to VND 3,384 billion from VND 3,000 billion  under its recapitalization plan approved by the General Shareholders’ Meeting on November 12, 2011.

The OCB is responsible for registering and publicizing its new charter capital in accordance with Law on Credit Institutions and regulations on securities and stock markets, and sending the Document with the attachment of a photocopy of business registration with the new charter capital to the SBV for approval of  charter capital adjustment in its License.

It will cease to be effective in case that the recapitalization plan of the OCB 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.

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