Vietnam's State Securities Commission has approved plans at four local banks to issue new shares to raise capital, the Vietnam Economic Times reported.
Hanoi-based Vietcombank received permission to issue 436.38 million new shares to existing shareholders at VND10,000 per share in order to raise its registered capital, which is now recorded at 13.23 trillion. The bank is one of three lenders listed on the local stock market.
The other three banks TienPhongBank, VPBank and Western Bank have registered capital ranging from VND2 trillion to VND2.4 trillion.
TienPhongBank is allowed to issue 100 million shares while VPBank and Western Bank can issue 154.34 million shares and 70 million shares respectively.
All banks in Vietnam are required to to raise their capital to at least VND3 trillion (US$158.7 million) by the end of this year, triple the current minimum.