The State Bank of Viet Nam has just allowed An Binh Joint-Stock Bank (An Binh Bank) to convert its activities as a commercial joint stock bank from rural to urban scale. With this conversion, the An Binh Bank can develop and expand its business nationwide, diversify its services such as international payment, and approach business and investment opportunities with strategic partners.
The An Binh Bank was established in April 1993 as a retail and investment bank. The bank raised its chartered capital from VND5 billion to VND70 billion (US$4 million) in August 2004. The chartered capital continued to increase to VND165 billion (US$10 million) in 2005 and is planned to reach VND500 billion (US$31 million) in 2006.