The announcement was made by the Inspection and Supervision Division under the State Bank of Vietnam (SBV) about results of a comprehensive inspection over Eximbank at its shareholders’ meeting, which was successfully organized yesterday.
SBV has approved Eximbank’s capital withdrawal from Sacombank and Eximbank is doing necessary procedures to do so.
In addition, Eximbank’s stock loan exceeds permissible level with the outstanding loan to seven customers of VND746 billion (US$33 million), equivalent to 6.04 percent chartered capital.
According to a document the bank announced previously, payment for Eximbank’s board of directors exceeded tens of billions of dong compared to plan from 2013-2015. Therefore, the current term board of director will require leaders of previous tenures to pay back nearly VND52 billion ($2.3 million).
This issue was not discussed at the meeting yesterday but shareholders proposed Eximbank to reclaim the beyond plan amount.
The meeting did not vote an extra of three members for the board of directors as per plan. The new board still has nine members as before comprising Mr. Cao Xuan Ninh who was supposed to be dismissed from the board member position.
Another candidate Mr. Yutaka Morizaki elected board member to replace a representative of Sumitomo Mitsui Banking Corporation shareholders.
At the meeting, shareholdings passed 15 out of 17 statements with the two unapproved being one on wage level and operation budget for the board of directors in 2017 and another about repair measures for issues relating to Eximland documents.
Previously, the bank unsuccessfully organized two annual shareholders’ meetings and delayed an extraordinary meeting in 2016.
Sacombank delays shareholders’ meeting 2017 till May
Sacombank on Friday announced delaying its shareholders’ meeting 2017 until 26 May instead of April 28 as per plan.
The bank explained that the delay is to prepare human resources for the board of directors and control board in term of 2017-2020 as well as documents for the event.
Sacombank postponed the shareholders’ meetings many times last year for having yet to draw a restructuring measure.
