The State Bank of Viet Nam has given the nod to the Asia Commercial Bank (ACB) to increase its chartered capital from over 1.1 trillion VND (68.7 million USD) to more than 2.53 trillion VND (158.1 million USD).
ACB leaders said that the capital readjustment would aid the bank to fulfil its 2006-2011 action plan, maintain its balanced and safe financial indexes and invest in effective state-owned enterprises that are being equitised.
By the end of May, ACB’s assets value was estimated at 55 trillion VND (3.4 billion USD), deposits at more than 50 trillion VND (3.1 billion USD) and pre-tax profit at over 700 billion VND (43.7 million USD).
ACB became the first commercial bank in Viet Nam to win a prestigious award from the world’s leading bank JP Morgan Chase for providing high-quality international payment services, particularly the high level of rapidity and accuracy of international e-payment service.
At present, ACB has transactions with over 500 agents in more than 100 countries worldwide.
Source: VNA
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