Vietinbank to issue bonds this year

Vietinbank has been permitted under the State Bank's decision No.956/QD-NHNN to issue long-term bonds in 2010 with a total value of US$800 million this week.

Under the decision, Vietinbank will issue a medium-term business plan outlining its policies.

Bond buyers cannot include economic organisations except for credit institutions.

Vietinbank will issue the bonds under the provision of bond regulations issued by domestic credit institutions, issued together with Decision No.07/2008/QD-NHNN and Circular 16/2009/TT-NHNN from the central bank.

Vietinbank will be held responsible for the correct use of the funds raised from the issuance, to ensure efficient and safe operation in accordance with the governor of the State Bank.

This year, Vietinbank has set the target of achieving VND4 trillion in pre-tax profits, a year-on-year increase of 18 per cent.

vietnamnews

>   ACB awarded Strongest Bank in Vietnam 2010 title (21/04/2010)

>   SRB: Notice of record date for Annual General Meeting of Shareholders (20/04/2010)

>   SSM: Notice of transaction of Directors, PDMR (Mr. Hung) (20/04/2010)

>   STP: Notice of transaction of Directors, PDMR (Mr. Tam) (20/04/2010)

>   TJC: Notice of transaction of Directors, PDMR (Mr. Ngoat) (20/04/2010)

>   TKU: Information disclosure at the request (20/04/2010)

>   UNI: Notice of Treasury stock sale (20/04/2010)

>   VE9: Notice of transaction of Directors, PDMR (Mr. Nguyen) (20/04/2010)

>   VC1: Notice of record date for Dividend payment (20/04/2010)

>   SDY: Results of Annual General Meeting of Shareholders 2010 (20/04/2010)