Prudential Finance allowed to hike capital to $34.6 mln

Prudential Finance Vietnam, the consumer finance arm of Prudential Plc., has been approved to increase its chartered capital to VND615 billion (US$34.6 million) from VND370 billion, the central bank said Wednesday.

Prudential Finance reported a loss of VND57.82 billion in 2008, according to Dow Jones Newswires. The firm started operating in October 2007, offering services like credit cards, car loans and loans for starting small businesses.

In related news, the central bank said Wednesday it has also allowed Ho Chi Minh City-based Vietnamese-Thai joint venture VinaSiam Bank to raise its capital from $20 million to $61 million.

thanhnien

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