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EVNFinance debuts
The Electricity of Vietnam Finance Joint Stock Company (EVNFinance) has just made its official debut under a license dated July 7 2008 by the Governor of the State Bank of Vietnam.
The company specialises in arranging capital and providing financial services to the electricity sector and other economic sectors.
EVNFinance is expected to make an active contribution to seeking, arranging and mobilising capital from domestic and foreign sources in a professional and effective way for electric power projects.
The company has also targeted to be a professional financial institution in such activities as credit provision, financial consultancy and investment.
EVNFinance targets to arrange and mobilise VND 20 trillion a year in the first three years of operations and the figure is expected to increase in the years that follow.
EVNFinance has a legal capital of US$2.5 trillion (US$147 million). Of this, the Electricity of Vietnam (EVN) contributed 40% of the company’s total capital, the An Binh Joint Stock Bank (ABBank), 8.4%, and Ho Chi Minh City bourse-listed REE Corp, 1.8%.
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