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Saigon-Hanoi Commercial Bank hikes charter capital

Saigon - Hanoi Commercial Joint Stock Bank increased its charter capital to more than 12.03 trillion Vietnamese dong from 11.2 trillion dong, Viet Nam News reported March 8, citing CEO Nguyen Van Le.

The bank raised its capital through the issuance of more than 83.92 million shares to pay dividends.

The increased charter capital will help the bank modernize its facilities, enhance governance and develop new products and services, Nguyen Van Le noted.

As of March 8, US$1 was equivalent to 22,758 Vietnamese dong.