SBV approves VietinBank charter plan

VietinBank has received approval from the State Bank of Viet Nam (SBV) to raise its charter capital from VND32.661 trillion (US$1.55 billion) to VND37.234 trillion ($1.76 billion), the central bank said in a post on its website.

The Ha Noi-based bank, officially known as Viet Nam Joint Stock Commercial Bank for Industry and Trade, can now increase its charter capital through issuing new shares to existing shareholders.

The charter capital increase shall be implemented in accordance with the plan approved at its extraordinary general shareholders' meeting on July 13.

The approval will be valid for 12 months. If VietinBank does not raise its charter capital within that time the approval will expire.

vietnamnews

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