Central bank approves Standard Chartered's capital increase

tohang

The central bank has given Standard Chartered Bank Viet Nam the nod for a capital increase.

Standard Chartered Viet Nam plans to increase its equity to nearly $137 million. — Photo giaoduc.net.vn

HA NOI (Biz Hub) — The central bank this week gave Standard Chartered Bank Viet Nam the nod to raise its chartered capital from VND3 trillion to VND3.08 trillion (from US$133.33 million to $136.89 million).

The State Bank of Viet Nam gave the wholly British-invested bank 12 months to complete the capital increase, which its management board had adopted in March.

Standard Chartered began operations in Viet Nam in August 2009, providing banking products and services for corporations, financial institutions and small and medium-sized enterprises and individuals.

It has also acted as the sole sovereign credit ratings advisor to the Vietnamese government since March 2012. — VNS

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