Central bank allows Sacombank to increase charter capital

The central bank has permitted Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) to increase its charter capital by more than VND6 trillion to touch VND18.852 trillion (US$836.1 million).

Earlier, the central bank approved the merger of Sacombank with the Southern Commercial Joint Stock Bank (Southern Bank).

After the merger, Sacombank has become one of five largest banks in Viet Nam, with total assets worth VND290.8 trillion (US$12.9 billion) and with 15,500 employees.

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