Higher profits make it easier for banks to raise capital
The Housing Development Commercial Joint Stock Bank (HDBank) has been allowed to increase its chartered capital from more than 8.828 trillion VND (392.3 million USD) to 9.908 trillion VND.
Hanoi (VNA) – The Housing Development Commercial Joint Stock Bank(HDBank) has been allowed to increase its chartered capital from more than8.828 trillion VND (392.3 million USD) to 9.908 trillion VND.
It was thesecond time HDBank has revised up its chartered capital in a year.
Earlier, theMilitary Commercial Joint Stock Bank (MB), the Vietnam Prosperity Joint StockCommercial Bank (VPBank) and the Asia Commercial Bank (ACB) raised theirchartered capital to over 18.1 trillion VND, 15.7 trillion VND and 11.2trillion VND, respectively.
The VietnamTechnological and Commercial Joint Stock Bank (Techcombank) plans to raise itscharter capital to 14 trillion VND via selling shares to existing shareholders.
According tothe National Financial Supervisory Committee (NFSC), buoyant securities marketand growing profits make it easier for domestic banks to increase capital.
Financial-bankingexpert Nguyen Tri Hieu attributed big profits to credit growth, saying thatcredit grew by 15.9 percent in October and is expected to reach 18 percent thisyear.
Better riskmanagement and lesser spending for risk provision fund led to higher profits,he said.
Hieucommented that banks in general have fairly high capital than the pastyears.-VNA
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Maximum credit growth this year is forecast to be just 18-19 percent, meaning that the banking system will not use up the increased room of 21 percent.
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Illustrative image (Source: VNA) 
