Vietnamese Joint Stock Banks Hike up Capital

A number of commercial joint stock banks have recently scaled up their chartered capital changing both the ranks and scopes of the banks.

 

After the Vietnam International Bank (VIBank) twice boosted its chartered capital within only a month, a series of other joint stock banks followed suit.

 

Notably, the Hanoi Housing Development Bank (Habubank) has recently increased its chartered capital to VND900 billion from VND500 billion for the second time this year.

 

At the same time, the Orient Commercial Bank (OCB) has also raised its chartered capital to VND630 billion from VND300 billion.

 

Particularly, the Vietnam Bank for Private Enterprises (VPBank) capital increase scheme attracted the most attention from investors. From May 31, the bank officially announced its new chartered capital, VND500 billion, whereby the bank is allowed to sell stake to foreign investor-the Singaporean-based Oversea-Chinese Banking Corporation (OCBC). 

 

Additionally, some other banks also started rushing to hike up capital. Namely, the Southeast Asia Commercial Bank (SeABank) has pushed up its chartered capital to VND350 billion from VND250 billion.

 

Remarkably, many banks such as the Eastern Asia Bank (EAB), the Export and Import Bank (Eximbank), VIBank, and Habubank set a target of boosting their chartered capital to a maximum of VND1 trillion. 

 

Regarding the scopes of the chartered capital, the top five biggest joint stock banks of Vietnam have changed rankings whereby Habubank is now bigger than the Vietnam Technological and Commercial Bank (Techcombank) and VIBank but lower than the Saigon Thuong Tin Commercial Bank (Sacombank) and the Asia Commercial Bank (ACB).
VnEconomy