VPBank Allowed to Increase Charter Capital to VND5,770 Billion
The Governor of the State Bank of Vietnam (SBV) recently allowed Vietnam Prosperity Commercial Joint Stock Bank (VPBank) to raise the charter capital.
Accordingly, VPBank will raise the registered capital from VND5,050 to VND5,770 billion from undistributed profits and additional capital reserves under its recapitalisation plan approved by the General Shareholders’ Meeting 2012.
VPBank is completing documentations with the State Securities Commission of Vietnam (SSC).
The recapitalisation was planned at the start of 2012 by the General Annual Meeting of Shareholders. The new capital will give a financial boost to the bank’s strategy to become a Top 5 commercial joint stock bank in Vietnam.
L.A
Vietnamese
