ACB to Issue US$406Mln Long-term Debt Papers in 2007
Asia Commercial Bank (ACB) has got approval from the State Bank of Vietnam, or the central bank, to issue VND6.5 trillion worth of long-term debt papers on domestic markets in 2007.
The central bank said on its website that ACB can fix the interest for the debts in line with the market interest and to ensure the bank’s operation safety.
Details of the issue such as time, place, term, currency, proceeds use, payment method and others will be conducted in accordance with ACB’s plan approved by the SBV.
ACB is now one of the largest lender in Vietnam in assets, which reached VND58.4 trillion (US$3.65 billion) by the end of June, accounting for 89.8 per cent of this year’s target, and a rise of 30.9 per cent from the end of 2006.
The bank gained pretax profit of VND880 billion (US$55 million) in the first six months, fulfilling 59 per cent of the target set for the full-year VND1.5 trillion. (SBV)
Vietnamese
