Maritimebank allowed to issue long-term valuable papers for 2009

Governor Nguyen Van Giau of the State Bank of Vietnam (SBV) issued, on June 3, Decision No. 1353/QD-NHNN to permit the Vietnam Maritime Commercial Joint-Stock Bank (Maritimebank) to issue long-term valuable papers for 2009 with the total face value of VND 5,000 billion.

Maritimebank has to determine the yield of these long-term valuable papers in line with Decision No.16/2008/QĐ-NHNN of the SBV Governor dated May 16, 2008 on the management mechanism of the base interest rate in VND.

The Bank is also required to strictly comply with the Regulations on issuing valuable papers in the domestic market stipulated in Decision No.07/2008/QĐ-NHNN of the SBV Governor dated March 24, 2008.

The decision stipulates that the Bank should use the proceeds of the issue effectively and safely in accordance with the SBV’s guidance and applicable regulations.

SBV

>   Foreign currency shortage fears returning (08/06/2009)

>   Gold prices decrease sharply (07/06/2009)

>   State Bank: Investments from credit institutions surge in May (06/06/2009)

>   Banks’ 5-month profit satisfactory (06/06/2009)

>   Weekly Information on Banking Activities (May, 28-June 3, 09) (06/06/2009)

>   Disbursement of the IRSP to June 4, 2009 (06/06/2009)

>   SBV and ADB co-organise workshop on financial supervision in Vietnam (06/06/2009)

>   Monthly Information on Banking Activities (May, 2009) (06/06/2009)

>   SBV: Demand stimulus funds aren’t flowing into stocks (05/06/2009)

>   PetroVietnam Finance (PVF) soars after loan agreement (05/06/2009)