Military Bank's investment arm increases capital

Investment fund MB Capital was granted a licence to double its charter capital to VND200 billion ($9.4 million) by issuing 10 million shares, according to the State Securities Commission.

The move is aimed to develop the firm's financial capacity so that it can set up more unit funds.

Military Bank (MBB) currently holds a dominant 82.26 per cent stake in the fund. MB Capital earned profits of VND21 billion (nearly $1 million) in the first nine months of this year.

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