Vietnam Daily News

HDBank, EAB and SouthernBank get nod to hike chartered capital

Written by Dailynews.vn Monday, 19 December 2011 16:46

The State Bank of Vietnam (SBV) on December 16 issued document allowing the chartered capital increase of three banks namely HCM City Housing Development Commercial Bank (HDBank), Eastern Asia Commercial Joint Stock Bank (EAB) and Southern Commercial Joint Stock Bank (SouthernBank). Accordingly, HDBank is allowed to scale up its chartered capital for the first phase of 2011 from three trillion dong to five trillion dong in accordance with the plan approved by HDBank's shareholders' meeting on June 16, 2011. EAB will hike its chartered capital in 2011 from 4.5 trillion dong to five trillion dong according to the plan approved by the bank's 19th shareholders' meeting on March 12, 2011 and resolution of the bank's director board for term VII on November 4, 2011. SouthernBank will be allowed to increase its chartered capital in 2011 from nearly 3.213 trillion dong to four trillion dong under the plan passed by SouthernBank's shareholders' meeting on April 18, 2011. The central bank requested HDBank, EAB and SouthernBank to be responsible for the implementation of legal procedures, regulations on information and reports related to the increase of charter capital in accordance with the provisions of current law, and also these banks must enclose documentation to complete the chartered capital increase and suggest the central bank (through the central bank's HCM City branch) to modify the license with new chartered capital.

Source: www.intellasia.net/news/articles/finance/111351327.shtml