Maritime Bank Raises Registered Capital

Maritime Bank reported to earn a compound profit of over VND766 billion in the first six months of 2010 and a pre-tax profit of VND660 billion, or 55 % of the full-year plan, in which 25 % came from credit activities. The lender has total assets value of VND84 trillion, equal to over 91 % of the yearly plan, total deposits of nearly VND80 trillion, and bad debt ratio was kept at 1.5 % or lower.

To increase the utility for customers, Maritime Bank has invested largely in technology. By expanding switch connections with VNBC through Smartlink network, Maritime Bank debit cards can be used at over 6,500 ATMs in the country.

The bank plans to increase authorised share capital from VND3 trillion to VND5 trillion and to issue VND2 trillion worth of convertible bonds. The lender has successfully issued medium and long term bonds worth VND3 trillion.

By the end of the second quarter of 2010, Maritime Bank had 130 transaction points, mostly located in large economic centres.