ABBank approved to raise capital

An Binh Bank, 15 percent-owned by Malaysia’s top lender Maybank, on Tuesday received the central bank’s approval to increase its registered capital to VND2.85 trillion (US$160 million) from VND2.7 trillion.

The bank, known as ABBank, reported first half pretax profits of more than VND172 billion ($9.6 million), 6 percent higher than its target.

The Ho Chi Minh City-based lender has forecast its pretax profits to rise to around VND400 billion ($22.4 million) in 2009.

thanhnien

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