Vietcombank to sell 10 per cent shares for foreign investors

The Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) will make 10 per cent of its primary shares available for foreign investors to increase charter capital, said member of the bank's management board, Lê Thị Hoa.

Also, the bank plans to issue bonus shares with the ratio of 35 per cent. After these, Vietcomabank's charter capital will increase from VND26 trillion (US$1.16 billion) to VND35 trillion (US$1.60 billion).

Foreigners are allowed to hold a maximum of 30 per cent of Vietcombank's shares. Currently, the ratio stands at 21 per cent.

In the first two months of this year, the bank earned a revenue of VND1.3 trillion and provision cost of VND900 billion.

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