FPT Joint Stock Bank Blueprint Approved
November 29th 2007, the State Governor of Vietnam approved in principle the establishment blueprint of FPT Joint Stock Bank with the charter capital is of VND 1,000 billion.
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30/11/2007
Also on the same day, three among 23 blueprints were approved namely Bảo Việt (Vietnam Insurance), Liên Việt and Tài chính dầu khí (Oil and Gas Financial Company). The four approved banks have principle capital ranging from VND 1,000 billion to VND 5,000 billion.
According to regulations, after the approval in principle, banks are not yet in operations but they will have to fulfill profiles, prepare technology infrastructure, human resource and mobilize charter capital.
Stakeholders will not permitted to transfer their shares in 3 years since the bank established. For founding stakeholders are only eligible to transfer to each other in 5 years since the bank is established.
Also as regulated, four banks will receive the foundation decision in writing on the upcoming Monday morning and it will be published on website of the State Bank.
Currently, there are 35 joint stock banks in Vietnam, in which Sacombank holds the highest charter capital, about VND 4,500 billion; the second is ACB about VND 2,500 billion.
According to regulations of the government, newly established joint stock banks in 2007 and 2008 will have the minimum charter capital of VND 1,000 billion. After December 31st 2008, the credit level will be VND 3,000 billion.
