CTG to issue new shares for boosting capital

CTG, Vietnam's top partly private lender by assets, has secured central bank permission to raise its registered capital by a fifth to 20.23 trillion dong ($963 million) via a share issue, the central bank said on Monday.

Hanoi-based CTG, or the Vietnam Bank for Industry and Trade (VietinBank) -- 10 percent owned by the International Finance Corporation -- would issue the new shares to existing shareholders over the next 12 months, the State Bank of Vietnam said in a statement.

The state would contribute nearly 2.1 trillion dong to the capital boost, the statement said. Registered capital determines the level of deposits and loans by a bank. Shares of CTG were trading down 200 dong at 22,300 dong ($1.06) each at 0231 GMT on Monday. ($1=21,006 dong)

reuters

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