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MBBank increases charter capital by $36 million

Oct 6th at 13:12
06-10-2016 13:12:09+07:00

MBBank increases charter capital by $36 million

The State Bank of Viet Nam (SBV) gave written consent for Viet Nam based Military Bank's (MBBank) increase in charter capital to VND17.127 trillion (US$766 million) from VND16.31 trillion ($730 million).

 

MBBank's decision to increase charter capital was approved at the bank's annual shareholders' meeting on April 28, 2016, and by their Board of Directors on June 14, 2016.

SBV directed MBBank to increase charter capital in accordance with the appropriate legal requirements.

In March 2016, MBBank increased its charter capital from VND16 trillion ($716.6 million) to VND16.31 trillion after merging with the Song Da Finance Company.

According to MBBank's financial report in the second quarter of 2016, the bank's before tax revenue reached VND979 billion ($43.8 million), down by five per cent compared with the same period in 2015.

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