Tien Phong Commercial Joint Stock Bank and Viet Capital Commercial Joint Stock Bank obtained approval from the State Bank of Vietnam to raise their charter capital, Viet Nam News reported Oct. 9.

TPBank will increase its capital to 8.566 trillion dong from 6.718 trillion dong through an issuance of shares as dividend payments from undistributed earnings and bonus shares from capital surplus.

The lender will issue about 185 million shares, representing 28% of its total shares.

Meanwhile, Viet Capital Bank will increase its capital to 3.5 trillion dong from 3 trillion dong through an issuance of 50 million shares at a ratio of six existing shares for every one new share.

As of Oct. 9, US$1 was equivalent to 23,279 Vietnamese dong.