|BIDV has so far this year made four bond issues totalling VNĐ1.01 trillion ($42.97 million). — VNA/VNS Photo|
HÀ NỘI — The Bank for Investment and Development of Việt Nam (BIDV) has recently issued 7-year and 12 year-bonds worth a total of VNĐ580 billion (US$24.68 million) to increase capital.
BIDV has so far this year made four bond issues totalling VNĐ1.01 trillion ($42.97 million). The proceeds will be used to supplement BIDV’s capital and improve its financial capacity
Increasing capital is one of the most urgent tasks for banks at the moment, especially State-owned banks like BIDV, because if they cannot do so before 2020, their capital adequacy ratio (CAR) will fall below the minimum level stipulated by the State Bank of Việt Nam (SBV) and under Basel II norms – a set of banking laws and regulations issued by the Basel Committee on banking supervision to enhance competition and transparency in the banking system and make banks more resistant to market changes.