OCB to increase chartered capital to VND3T

Orient Commercial Joint Stock Bank has received approval from the governor of State Bank of Vietnam to raise its chartered capital to 3 trillion dong.

The bank reported an accumulative pre-tax profit of 225 billion dong by end of August, according to Vietnam Daily News.

In its business plan, by the end of 2011, the bank aims to obtain total assets value of 29.5 trillion dong, increasing by 7 trillion dong or 49.8 percent against the previous year, total raised capital of 23 trillion dong, up 50.9 percent while outstanding loans would surge by 19.9 percent and bad debt ratio to be limited at below 3 percent. OCB set target to reach whole year pre-tax profit of 500 billion dong.