Specifically, the SBV approved Kienlongbank to increase its maximum charter capital by VND 415.8 billion by issuing shares to pay dividends to existing shareholders.
The State Bank requested Kienlongbank to increase its charter capital in accordance with the law; may only increase charter capital when complying with relevant laws.
Within 10 working days from the date of completion of the issuance of shares in accordance with law, Kienlongbank shall carry out procedures for amending and supplementing the Operating License as prescribed in Clause 4, Article 11 of the Circular No. 50/2018/TT-NHNN dated December 31, 2018 of the Governor of the SBV on dossiers, orders and procedures for approving some contents of changes of commercial banks and foreign bank branches.
The SBV also approved OUB Vietnam to increase its charter capital from VND 3,000 billion to VND 5,000 billion.
The State Bank requires OUB Vietnam to be responsible for increasing charter capital in accordance with current law.
Within 15 working days from the date of completion of the increase in charter capital (additional VND 2,000 billion), OUB Vietnam shall send a written request to amend the charter capital level in the License for Establishment and Operation to the State Bank.
Source: vietnamfinance.vn – Translated by fintel.vn