Posted by The State Bank of Vietnam (SBV) on May 13 issued a Decision No 1143/QD-NHNN allowing Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) to offer long term valuable papers in 2010.
Accordingly, VCB will issue five trillion dong of long term valuable papers in 2010 including 400 billion dong in dong and 4.6 trillion dong of US dollar.
The interest rate of these papers will be defined in accordance with the market interest rate and the central bank’s current regulation on interest rate.
VCB will be responsible for using the capital being raised from the issuance in right purposes and ensuring the efficiency and operation safe according to SBV’s regulation.
In 2010, VCB targets to reach 23 percent growth in total deposits and 20 percent growth in total outstanding loans.
CafeF
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