Saigonbank to Raise Chartered Capital to VND700 Billion

After ACB, Saigonbank is preparing to list. (Photo: T.C)

The Sai Gon Bank for Industry and Trade (Saigonbank) prepares to raise its chartered capital from VND600 billion to VND700 billion in Q4 this year via issuing additional share to shareholders.

The bank also hands in documents to the State Securities Commission (SSC) asking for auditing support, and prepare to list its stock on Ho Chi Minh City Securities Trading Center (HSTC), said Ms. Tran Thi Viet Anh, Saigonbank’s director.

Before Saigonbank, the Sai Gon Thuong Tin Commercial Bank (Sacombank) is the first commercial bank to have had its stock listed on the stock market in July while the Asia Commercial Bank (ACB) has applied to list.

However, as the banking industry is still under strict regulation of the government, the listing procedure is not simple. Mr. Nguyen Van Uc, representative from the Finance Management Department of Communist Party Committee of Ho Chi Minh City and the Saigonbank’s chairman of the board of governors, has asked SSC to approve Saigonbank's request for auditing support for listing.

Currently, Saigonbank has nearly VND6,000 billion in operation capital and made VND90 billion in earnings before tax in the first 7 months.

Related Articles:
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Reported by Tuong Chau

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