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Vietnam government allows 4 state banks to increase charter capital

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Vietnam government allows 4 state banks to increase charter capital

Vietnam's government allowed four state-owned lenders to raise charter capital, Viet Nam News reported Jan. 9, citing State Bank of Vietnam Governor Le Minh Hung.

The banks are Vietnam Bank for Agriculture & Rural Development, or Agribank, Vietnam Joint Stock Commercial Bank for Industry & Trade, or VietinBank, Joint Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, and JSCB for Investment and Development of Vietnam, or BIDV.

Hung said the proposed increases in charter capital will allow the banks to grow their business and contribute in maintaining the country's high economic growth.

The country's finance ministry is amending regulations in relation to the banks' charter capital increase plans, according to the report.