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VietNamNews

SeABank to raise charter capital

Update: December, 04/2013 - 08:31
Governor of the State Bank of Viet Nam (SBV) Nguyen Van Binh has permitted SeABank to raise its charter capital to VND5.46 trillion (US$260 million) from VND5.33 trillion ($254 million).— Photo vir

HA NOI (VNS)— Governor of the State Bank of Viet Nam (SBV) Nguyen Van Binh has permitted SeABank to raise its charter capital to VND5.46 trillion (US$260 million) from VND5.33 trillion ($254 million).

This increase was allowed as part of the charter capital raising plan approved at this year's SeaBank shareholder meeting.

Raising charter capital is meant to enhance the finance capacity of a bank and create incentives to expand its network and diversify banking services, while raising its competitiveness to meet increasing demands from customers. Currently, France's top-tier retail bank, Societe Generale, holds a 20 per cent stake of SeABank, with the remainder being held by domestic shareholders. — VNS

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