SSI Securities Corporation has signed a fresh loan agreement with a bank for VND10 trillion (US$440.87 million).

The loan has a tenor of no more than 12 months, carries a short-term interest rate and has been partially disbursed.

Last year SSI got the largest foreign unsecured loan by any securities company of $267.5 million.

The new deal is the largest unsecured loan provided by a bank to any brokerage in Viet Nam.

It will be used for business activities and buying valuable papers from financial institutions and corporate bonds.

Nguyen Vu Thuy Huong, managing director of treasury/principal investment at SSI, said Viet Nam’s stock market was entering a new phase after two decades of development. To prepare for significant market growth and provide quality products and services at a low-cost and high efficiency to customers, SSI constantly improves its financial capacity.

SSI has assets of VND 50.4 trillion ($2.2 billion).

It has equity capital of VND13.9 trillion, and shareholders recently approved issuance of shares to increase it to VND15 trillion. — VNS