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RETAIL BANKING | Cesar Tordesillas, Vietnam

Southern Bank to hike chartered capital

The governor of the State Bank of Vietnam has approved Southern Bank's application to increase its chartered capital to over 3.212 trillion dong, according to a Vietnam Daily News report.

In the document sent to shareholders in April 2011, the bank expects to scale up its chartered capital by 31.2 percent from 3.049 trillion dong to four trillion dong within 2011, total deposit growth at 23.2 percent to 47 trillion dong, credit growth at 19 percent to 37.2 trillion dong, profit before tax at 600 billion dong and minimum dividend at 10 percent this year.

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