Business

Military Bank to raise charter capital to 16 trillion VND

The Military Commercial Joint Stock Bank (MB) will increase its charter capital from 11.6 trillion VND (539.5 million USD) to 16 trillion VND (744.1 million USD) as approved by the State Bank of Vietnam (SBV) in document No. 5384/NHNN-TTGSNH.

The Military Commercial Joint Stock Bank (MB) will increase itscharter capital from 11.6 trillion VND (539.5 million USD) to 16trillion VND (744.1 million USD) as approved by the State Bank ofVietnam (SBV) in document No. 5384/NHNN-TTGSNH.

TheSBV asked the MB’s Board of Directors to expand its charter capital inline with current regulations and ensure progress on the credit growthadjustment plan in compliance with the SBV credit growth target.

The document is valid for 12 months as from July 16, 2015.

Sinceits establishment in 1994, the MB has achieved and maintained trustwith customers, partners and investors. The bank was honoured as one ofthe top 50 fastest growing enterprises in Vietnam from 2009-2014.

Italso received several awards in recognition of its quality managementand outstanding performance, including the Asia Pacific QualityOrganisation prize in 2014 and National Quality Award in 2013.-VNA

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