Eximbank gets approval to raise charter capital

Eximbank, 15 percent owned by Japan’s Sumitomo Mitsui Financial Group, received Tuesday approval from the central bank to increase its registered capital to VND8.8 trillion ($495 million) from VND7.2 trillion this year.

The Ho Chi Minh City-based lender, Vietnam’s eighth largest lender by assets, was allowed to raise its capital by issuing 158 million bonus shares to existing shareholders, the State Bank of Vietnam said Tuesday on its website.

The bank had earlier said it would take 30 percent of its capital surplus to fund the share issuance.

thanhnien

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