A branch of DBS bank in Singapore. -- File Photo

HA NOI (Biz Hub) – The State Bank of Vietnam (SBV) has allowed the HCM City branch of the Development Bank of Singapore Limited (DBS Bank Ltd.) to increase its charter capital.

Under the decision, the branch's charter capital can now be raised from the current US$20 million to $70 million.

The HCM City branch of DBS Bank Ltd. is responsible for implementing its recapitalisation programme in accordance with applicable laws. After the completion of all recapitalisation procedures, the HCM City branch will have to submit the documents on revising its charter capital to the SBV.

DBS Bank Ltd. is one of the largest banks in Southeast Asia, with more than 280 branches spread across 18 markets. The bank opened its office in HCM City in 2010.

As of September 2015, DBS Bank Ltd. earned $5.246 billion in net interest income. – VNS