Vietinbank to sell $963 mil. worth securities

Vietnam Bank for Industry and Trade, the country’s fourth-biggest lender by assets, has obtained the central bank’s approval to raise VND10 trillion (US$565 million) by selling securities this year.

The lender, known as VietinBank, is also allowed to sell an additional $400 million in securities, the State Bank of Vietnam said in a statement posted on its website Tuesday. The statement did not disclose the type of securities the Hanoi-based bank may sell.

VietinBank has forecast net profit to nearly double this year to VND2.2 trillion and total assets to grow 25.6 percent to VND263.48 trillion, Reuters reported.

Thanh Nien

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