Government seeks to increase Agribank capital
Government seeks to increase Agribank capital
The National Assembly will discuss this month a government proposal to increase state-owned Agribank’s charter capital by VND3.5 trillion ($150 million).
The logo of Agribank is seen on a building in District 1, Ho Chi Minh City. Photo by Shutterstock/StreetVJ.
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The increase is sought to be achieved by capitalizing part of the bank’s profits.
The wholly state-owned Agribank, one of the "big four" public lenders, currently has a charter capital of VND30.5 trillion ($1.3 billion), the lowest of the four. The other three are Vietcombank, Vietinbank and BIDV.
This means its capital adequacy ratio is just above the minimum rate of 9 percent required by the State Bank of Vietnam.
Vietcombank and BIDV last year increased their capital after years of waiting, but industry insiders said they need to increase it further.
