Maritime Bank allowed to sell 74 Mln Shares

The State Securities Commission (SSC) has given approval to the Maritime Joint Stock Bank to offer 74 million shares to public, the Vietnam Economic Times reported. The bank will offer 67.5 million shares to existing shareholders and 6.5 million shares to its employees by April 13.

Maritime Bank, which has a registered capital of VND1.5 trillion ($88.2 million), made pretax profit of VND450 billion ($26.5 million) in 2008, surpassing 20% over its plan set for whole year. The Hanoi-based lender now raised its number of transaction offices to nearly 90 nationwide last year, 2.5 times higher than that in the previous year.

Vietnam Economic Times

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