Disclosure of information on time extension related to the transaction of transferring part of VietinBank's contributed capital at VietinBank Leasing
On 23/06/2020, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) disclosed the Board of Directors’ 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, in which approved 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 past time, VietinBank and VietinBank Leasing have coordinated with transferee partners to prepare documents and work with competent authorities to get approval for the transformation of VietinBank Leasing's legal form.
However, because the competent authorities need more time to consider and approve, to ensure the implementation of the transfer transaction of VietinBank Leasing is not interrupted, on 11/8/2021, the Board of Directors of VietinBank has issued Resolution No. 291/NQ-HĐQT-NHCT2.1 regarding the approval of time extension to complete the transfer transaction and escrow account related to the transaction of transferring a part of VietinBank's contributed capital at VietinBank Leasing with partners, in which approves time extension for escrow account in the Contract of payment and escrow account between VietinBank, Mitsubishi UFJ Lease & Finance Company (Mitsubishi HC Capital Company at present) 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 and VietinBank Leasing will continue to coordinate with the transferees to accelerate the approval of the competent authority for the legal transformation of VietinBank Leasing.
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