Disclosure on the partial transfer of chartered capital of VietinBank Leasing and legal transformation of the Company
On 22/06/2020, the Board of Directors (BoD) of Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has issued Resolution No.231/NQ- HDQT-NHCT2.1 regarding approval of the plan of deploying partial transfer of charter capital of VietinBank Leasing Company Limited (VietinBank Leasing) and transforming the legal form of the Company.
Accordingly, the Board of Directors of VietinBank (i) approved the transfer of 49% of VietinBank Leasing's charter capital owned by VietinBank to a foreign investor named Mitsubishi UFJ Lease & Finance, and transferred 1% of VietinBank Leasing's charter capital owned by VietinBank to 01 domestic investor; (ii) approved the transformation of legal form of VietinBank Leasing from a credit institution (CI) being a one-member limited liability company to a CI being a two-member limited liability company upon completion of partial transfer of charter capital.
For implementation, the Board of Directors of VietinBank approved related documents, including the Contract of payment and escrow account between VietinBank, Mitsubishi UFJ Lease & Finance Company and MUFG Bank in Ho Chi Minh City (branch of major shareholder of VietinBank); Agreement to temporarily suspend payment accounts between VietinBank and the domestic investor and Indovina Bank Limited (Associated Company of VietinBank).
In the coming time, VietinBank will coordinate with the transferred partners to prepare documents and seek approval of the competent authority for the transformation of legal form of VietinBank Leasing.
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