The State Bank of Vietnam (SBV) issued Document No.5887/NHNN-TTGSNH on August 6 to permit the Hong Leon Bank Vietnam to increase charter capital from VND 1,000 billion to VND 3,000 billion as contributed by capital resources of the Hong Leong Bank Berhad.
The Hong Leong Bank Vietnam is responsible for registering and publicizing its new charter capital, 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 License No.342/GP-NHNN dated December 29, 2008 and its Charter in accordance with the applicable laws.
In addition, the Bank is required to comply with Decree No.141/2006/ND – CP of the Government dated November 22, 2006 on legal capital of credit institutions.