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Bank gets go-ahead to raise charter

Update: June, 01/2013 - 11:20

HA NOI (VNS)— The Joint Stock Commercial Bank for Investment and Development of Viet Nam (BIDV) has got approval to raise its charter capital in the first phase of 2013 from VND23.012 trillion (US$1.1 billion) to VND28.112 trillion ($1.34 billion).

The Ha Noi-based bank shall increase its charter capital through paying share dividends and issuing new shares to existing shareholders.

The charter capital increase will be implemented in accordance with a plan approved by its annual general meeting on April 26, 2013, and with a resolution of the board of directors dated May 27 this year.

The approval will be valid within 12 months. In case BIDV does not raise its charter capital within the terms of the decision, and its shareholders approve a change in the plan to hike charter capital, the approval will expire.-VNS

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