VPBank allowed to increase charter capital

The Governor of the State Bank of Viet Nam has given the Viet Nam Prosperity Commercial Joint Stock Bank (VPBank) the green light to increase its charter capital to VND5.7 trillion (US$271.4 million) from its current VND4.43 trillion ($211 million).

Issued under Decision No 7205/NHNN-TTGSNH, the capital will be taken from undistributed profits and additional capital reserves under its recapitalisation plan approved by the General Shareholders' Meeting.

VP Bank has prepared documents reporting to the State Securities Commission of Viet Nam in accordance with law and shareholders permission.

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