VSB and VRB allowed to increase charter capital

The State Bank of Vietnam (SBV) issued Documents No. 654/NHNN-TTGSNH and No. 655/NHNN-TTGSNH on January 21 to allow the Vietnam Siam Joint-Venture Bank (VSB) and the Vietnam Russia Joint-Venture Bank (VRB) to increase their charter capital.

Accordingly, VSB is allowed to increase its charter capital from USD 61 million to USD 161 million for 2011 as contributed by the Vietnam Bank for Agriculture and Rural Development (VBARD) with USD 34 million, the Siam Commercial Bank PCL (SCB) with USD 33 million and the Charoen Pokphand Group (CP Group) of Thailand with USD 33 million.

VRB is allowed to raise charter capital from USD 62.5 million to USD 168.5 million for 2011. Following this increase, the new charter capital is equally shared  by the Bank for Investment and Development of Vietnam (BIDV) with USD 84.25 million and the Bank for Foreign Trade of Russia (Vneshtorgbank) (VTB) with USD 84.25 million.

VSB and VRB are required to register and publicize the new charter capitals in accordance with the Vietnamese law. They are integral parts of License No.19/NH-GP of the SBV Governor dated April 20, 1995 for VSB and License No.11/GP-NHNN of the SBV Governor dated Octorber 30, 2006 for VRB.

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