Nam A Bank to Boost Registered Capital to US$125Mln
The Nam A Commercial Joint Stock Bank (NamABank) plans to increase its chartered capital to VND2 trillion (US$125 million) from VND576 billion (US$36 million) by the end of 2007.
To increase capital, NamABank expects to issue shares to existing shareholders and domestic and foreign strategic partners.
The bank plans to raise registered capital in two phases. Capital will be increased
to VND1.2 trillion ($72 million) in the first phase, and to VND2 trillion in the second phase.
The bank is also considering a project selling shares to foreign investors to improve its competitive capability.
In the first quarter, NamABank obtained VND21.2 billion ($1.3 million) in pretax profit.
Its deposits totaled VND3.8 trillion ($235 million) and total outstanding loans amounted to VND2.2 trillion ($133 million) as of the end of the quarter.
The bank has been honored as a “National Renown Trademark” voted by Vietnam Intellectual Property Association. (Securities Investment)
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