Vietnam Central Bank Okays ABBank to Raise Cap to VND2.85T, Vietnam Banking News
As of late June, ABBank had raised a total of VND11.685 trillion, up 160 per cent against the end of 2008, and total outstanding loans of VND8.62 trillion, up 132 per cent. Its shareholders have already approved targets of VND19 trillion in total assets, total outstanding loans of VND10 trillion, total deposits of VND11 trillion and pretax profit of VND400 billion for this year.
The State Bank of Vietnam (SBV), the country’s central bank, has given a nod to An Binh Commercial Joint Stock Bank (ABBank) to raise its registered capital to VND2.85 trillion from current VND2.7 trillion, the SBV said on July 14. No more detail about ABBank’s capital hike has been made available on the website. ABBank, 15 per cent owned by Malaysian top lender Maybank, made pretax profit of VND172 billion (US$10.117 million) in the first six months this year, including VND84.3 billion in the second quarter.
Vietnam Business And Financial News Network. Source [vcci]
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