Vietnam - Russia Joint Venture Bank announces change in charter capital

On 12/12/2024, the State Bank of Vietnam (SBV) issued Decision No. 756/QD-TTGSNH1 on amending the charter capital content stated in the Establishment and Operation License of Vietnam-Russia Joint Venture Bank (VRB).

Accordingly, the SBV amended the charter capital content stated in the Establishment and Operation License of VRB No. 88/GP-NHNN dated September 18, 2018 of VRB as follows: The charter capital of VRB is 170,202,020 USD (One hundred and seventy million two hundred and two thousand and twenty US dollars).

In which:

- Vietnamese side: Joint stock Commercial Bank for Investment and Development of Viet Nam contributes 84,250,000 USD (Eighty-four million two hundred and fifty thousand US dollars), equal to 49.5% of charter capital; NGS Telecommunication and Equipment Joint Stock Company contributes 1,702,020 USD (One million seven hundred and two thousand twenty US dollars), equal to 1% of charter capital.

- Foreign side (Russian Federation): VTB Bank (Public Joint-Stock Company) contributes 84,250,000 USD (Eighty-four million two hundred and fifty thousand US dollars), equal to 49.5% of charter capital.

The above changes have been widely announced on the information disclosure media as prescribed.