Maritime Bank to Raise US$20 Mln in CD Issue
The Maritime Commercial Joint Stock Bank (MSB) plans to expand US$20 million via issuing certificates of deposits (CDs) from Sept 20 to Nov 20.
The CDs will be issued in US dollar with term of 11 months and interest rate of 5.6 per cent a year.
The holders can give, transfer certificates to others, or mortgage them at MSB’s transaction offices or other banks.
To date, Maritime Bank has total assets of VND15 trillion, up 50 per cent from the end of 2006. Its profit surpassed 40 per cent from the whole last year.
In fiscal year 2006, the bank reported pretax profit of VND109 billion, two-fold increase from the previous year and its total asset rose by 93 per cent on year. (Securities Investment)
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