HABUBANK Successfully Issues VND1,000 Bln Bonds

Habubank has successfully issued bonds for the first phase with two-year term for the domestic enterprises with total value of VND1 trillion (nearly US$60 million). The purpose of this issue is to supplement the medium and long-term capital to meet the bank's demands for operation activities from now up to the end of 2009, including funding new projects and restructure assets and liabilities of the bank.

 

An officer from Habubank said by the end of this year, depending on its capital demands and business situation, Habubank will consider issuing more bonds to use up the bank's bond issuing limit of VND2,500 billion set by the State Bank of Vietnam (SBV).

 

Habubank has been allowed to raise its chartered capital from VND2,800 billion to VND3,000 billion by SBV. The lender is finalising procedures with the State Securities Commission (SSC) to realise the capital raising plan in the fourth quarter of 2009.

 

Habubank's pre-tax profit reached VND385 billion by the end of September 2009, beating the full-year target. Other indicators on assets, outstanding loans and deposits are better than norms approved by the Annual General Meeting 2009.

 

L.A