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Vietnam Business » Vietnam Banking News » 23 banks submit plan for the recapitalization of Chartered

23 banks submit plan for the recapitalization of Chartered

Twenty-three commercial banks have provided capital increase of less than three trillion dong its plan to capital from the State Bank of Vietnam (SBV). These banks, so they go no plan for mergers and consolidation, the banks will be more difficult to have means to find their own investors.

But the injection needs to be done and how easy or difficult this growth is only evident when the behavior of the banks for the coming quarter. Not to extend to capital hike SBV figures show that there are 23 joint stock banks have chartered capital of less than three trillion dong and under Decree 141/2006/ND-CP of the end of 2010, all banks have minimum chartered capital of three trillion dong, according to the schedule, as shown. According to the SBV Governor Nguyen Van Giau, the above request was made since 2006, which means that the banks had almost five years to prepare. By July 1931, the State Bank of the capital plan approved by seven banks, including the Mekong Housing Bank, Daia Bank, Ficombank, Vieta Bank, SaigonBank, TienPhong Bank, South Bank, in this August, SBC is expected that all other applications that to approve capital increase if the files are valid and legal in nature, as indicated. A top leader of the Central Bank also said the SBV has serious road map, with the end of June came the deadline for applying for the banks, and offer to end of September, when each project is not approved, the bank needs capital solutions. So far no bank has violated this schedule. After receiving the approval of the SBV plan to raise capital, banks should also complete the procedures for submission to the State Securities Commission (SSC) to make an issue of shares to raise capital. With plans to raise capital this year, the banks give more priority to existing shareholders and strategic investors. The rules of the SBV, the capital plan submitted to the SBV is not public, as investors worried. Many former shareholders are state-owned companies plan to divest funds from these banks. This step is the concern, as the banks are successful in the issuance of new shares to existing shareholders. According to experts in the financial sector, higher volume of shares by banks until the end of this year, which may cause an increase in supply of shares, then the actual demand is issued. Especially in the fourth quarter, the offering of shares of the Bank is to increase gradually, but nobody can be sure to confirm an increase in demand. Andy Ho, Managing Director of VinaCapital said the demand for bank shares, it has always existed, but there are several classes of shares. In particular, for large banks, is the extent of the operation with a good performance is known and more attention. Instead, the banks try to raise money to cover the chartered capital of three trillion dong are less effective performance, the draw has not traded much less attention. The story of the rise in bank capital is a hub of the stock market this year, actually takes place during the fourth quarter.

Vietnam Business And Financial News Network. Source [stox.vn]

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