Sacombank gets approval to increase capital
Sacombank gets approval to increase capital
Sacombank (STB) has announced it has received approval from the State Bank of Viet Nam to increase its charter capital from VND10.74 trillion (US$506.6 million) to nearly VND12.43 trillion ($586.3 million) for the first time this year.
In addition, the bank will sell some shares to a strategic foreign partner to boost its capital for a second time, which is expected to happen in the fourth quarter.
The banks total assets as of June reached over VND159.6 trillion ($7.5 billion), a rise of 5.5 per cent from earlier this year, while its portfolio of bad debt was just 2.46 per cent.
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