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Standard Chartered Bank (Vietnam) gets approval to increase charter capital

Standard Chartered Bank (Vietnam) Ltd. received approval from Vietnam's central bank to increase its charter capital to 4.215 trillion dong from 3.08 trillion dong, Viet Nam News reported Feb. 27, citing a document issued by the central bank.

Following increasing its capital, the bank will be required to file an application to the central bank for an amendment in its license. The central bank's approval is valid for 12 months from the signing date.

Standard Chartered Bank (Vietnam) is a unit of U.K.-based Standard Chartered Plc.

As of Feb. 27, US$1 was equivalent to 22,754 Vietnamese dong.