Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank, the country’s largest joint stock bank in terms of capitalisation on December 13 opened the prize-based savings programme at the second phase called “Deposit savings, win gold prises”, according to general director of Sacombank Le Tan Loc.
Sacombank granted one special prize worth two kilograms of SJC gold, equivalent to 530 million dong for one customer in HCM City.
Currently, Sacombank has charter capital of 1.25 trillion dong (US$80 million). Sacombank has said that it would issue shares to raise its chartered capital from the current 1.25 trillion dong to two trillion dong in early 2006 before Sacombank lists its securities on the HCM City Securities Transaction Centre.
Recently, the bank has finally gained the central bank’s blessing to proceed with its plans for listing on the stock exchange, possibly in early the first quarter of 2006.