Vietnam Maritime Commercial Joint Stock Bank (MSB) said that it is finalising procedures to raise chartered capital for the second time this year to 150 billion dong. By the end of 2004, MSB said its third chartered capital increase will bring the amount to 160 billion dong.
Duong The Son, MSB vice director said that the plan has been passed at the last general shareholders meeting. This is the bank’s strategy in parallel with opening series of branches in Hanoi, HCM City and Da Nang in 2004. “Now the performance effectiveness of the bank is very optimistic”, said Son.
By the end of September, MSB’s total outstanding loans were estimated to have increased 23.8% against the same period last year. The non-performing loan and bad debt rate is within targets, Son said without elaborating.