Vietbank gets SBV nod to double capital

The State Bank of Vietnam has given approval to the joint stock Vietbank to double its chartered capital to 1 trillion VND (60 million USD).

The Soc Trang province - headquartered lender expects to increase its capital further to 3 trillion by 2010.

Its general director, Cao Van Duc, said the capital increase would help the bank expand its branch network to major economic centres across the country.

Vietbank plans to open five branches and several additional transaction offices in Hanoi , Haiphong , Da Nang , Can Tho and Ho Chi Minh City in 2009.

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