MegaBank Ho Chi Minh raises capital by 6 times

Mega Bank’s Ho Chi Minh branch has been allowed by the State Bank of Vietnam to raise its charter capital to $90million from $15million.

Vietnam has to date nearly 50 foreign bank branches, most of which have current charter capital of about $15million.

A number of these have raised their charter capitals from three to eight times. Deutsche Bank AG’s HCMC branch doubled its charter capital to $50.08million, OCBC’s HCMC branch boosted up its capital by 4 times to $25million, Mizuho’s Hanoi and HCMC Branch up capital by 9 times to $133.5million from $15million.