Hanoi (VNA) - VPBank hassuccessfully increased its charter capital to around 14 trillion VND (around 616.7million USD).
The capital hike was implemented through the dividend payout inshares and share bonus.
After the rise, the governor of the State Bank of Vietnam issuedDecision 1426/QD-NHNN on July 7, revising VPBank’s business licence with achange to its charter capital from 10.77 trillion VND to 14 trillion VND.
VPBank will make another charter capital hike this year, of roughly2 trillion VND to raise its capital to 16 trillion VND through a 15 percentprivate placement to local and international investors. The share price will bedetermined by mutual consent through negotiations between the bank and itsinvestors, but it will be higher than the book value.
The bank said it is raising more capital to meet its operationaldemand, and to comply with the safety ratio regulated by the central bank.
This year, VPBank has been the second bank in the country tofinalise a capital hike plan, after OCB.
On June 20, OCB completed its charter capital hike procedures andraised its capital from 4 trillion VND to 5 trillion VND through dividendpayout in shares and private placement.-VNA
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Illustrative photo (Photo: VP Bank courtesy) 
