Two more commercial banks approved to issue bonds and valuable papers

Two more banks, the Ho Chi Minh City Housing Development Commercial Joint Stock Bank (HDBank) and the Ocean Commercial Joint Stock Bank (OceanBank) have been approved to issue bonds and long-term valuable papers in 2008 by the State Bank of Vietnam.

Under a decision signed by the Governor of the SBV dated June 23, the HDBank is approved to issue VND 1.08 billion worth of long-term valuable papers in 2008.

The same day, the SBV governor also signed another decision allowing the OceanBank to issue bonds worth totaling VND 5.2 trillion in 2008.

The two banks are requested to set interest rates of the valuable papers and bonds in conformity with SVB's regulations relating to prime interest rate management mechanism.

ND

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