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Article: Vietnam: Banks rush to raise capital.
- Article from:
- TendersInfo
- Article date:
- August 29, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Banks with charter capital of less than VND2 trillion (US$111.7 million) are striving to boost equity to that level by the end of this year to comply with State Bank of Viet Nam regulations.
Under Decree 141/2006/ND-CP, joint stock commercial banks must have at least VND3 trillion ($167.6 million) by December 31, 2010, or face dissolution or merger with other banks.
Currently, 22 out of 38 domestic joint stock commercial banks still have charter capital of less than VND2 trillion, according to the State Bank.
Earlier this month, State Bank Governor Nguyen Van Giau agreed for Bac A Bank to increase charter capital this ...