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Vietnam may give banks more time to up capital
The State Bank of Vietnam has proposed to the government that it extend the deadline for banks to raise their registered capital to VND3 trillion (US$154 million), a news website said Monday.
Banks have to increase their capital by the end of this year, but the central bank wants the government to give lenders more time due to "objective difficulties in raising funds", the website VnExpress.net quoted an official as saying.
It did not say when the deadline might be extended to.
Stock analysts said word that there would be an extension helped boost markets Monday. The benchmark Ho Chi Minh index .VNI rose 3.63 percent while the smaller Hanoi index .HNXI jumped 4.61 percent.
The central bank wants lenders to raise their registered capital as part of a strategy to strengthen the banking system.
Banks have scrambled to raise funds this year, with many issuing stocks or offering stakes to strategic partners.
Only half of the 22 lenders that needed to raise capital had finished the task by the end of October, VnExpress said, quoting central bank data.
tuoitrenews, Reuters
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