The State Bank of Vietnam (SBV) has just decided to approve the capital increase of three banks including Bank of China (Hong Kong) LimitedHCM City Branch, Korea Industrial BankHanoi Branch and The Siam Commercial Bank Public Company LimitedHCM City Branch.
Specifically, SBV granted the approval for Bank of China (Hong Kong) Limited HCM City branch to raise capital from $100 million to $180 million.
Korea Industrial BankHanoi Branch increased capital from $90 million to $120 million.
The Siam Commercial Bank Public Company Limited (Thailand)HCM City Branch increased its capital from nearly $100.5 million.
Banks have to develop plans and control credit growth in line with the targets approved by SBV in 2019. At the same time, they have to carry out the capital raise according to current law provisions. Within 15 working days from the date of completion of increasing granted capital level, the foreign bank branches shall send a written request for amendment of the capital granted in the operation permit sent to SBV.
