State Bank allows JV bank to raise capital

The State Bank of Vietnam (SBV) has given the nod to the Vid Public Joint Venture Bank to increase its statutory capital from 20 million USD to 62.5 million USD in 2008.

Vid Public is a joint venture between the Bank for Investment and Development of Vietnam and the Public Bank Berhad Malaysia . Each side will contribute an additional 21.25 million USD.

The SBV has also allowed the Military Commercial Joint Stock Bank to issue bonds worth 3 trillion VND and the Sai Gon Thuong Tin Commercial Joint Stock Bank to issue long-term valuable papers worth 5 trillion VND.

VNA.

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