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RETAIL BANKING | Cesar Tordesillas, Vietnam

BIDV gets green light to increase chartered capital

The State Bank of Vietnam  on June 8 issued a Document No 4430/NHNN-TTGSNH allowing the Bank for Investment and Development of Vietnam to increase chartered capital by 508.4 billion dong.

However, the document did not mention the way to raise capital of Bidv.

Particularly, the SBV's governor allowed Bidv to increase its chartered capital from 14.091 trillion dong to nearly 14.6 trillion, up 508.4 billion dong.

The governor also asked Bidv to carry out relevant procedures in line with the current law to complete the chartered capital increase.

In 2011, Bidv will focus on equitisation with an aim to hike chartered capital to 18-19 trillion dong.


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