09:20 | 15/02/2016 Economy
The State Bank of Vietnam (SBV) has allowed the Ho Chi Minh City branch of the Development Bank of Singapore Limited (DBS Bank Ltd.) to increase its charter capital.
ATM of Development Bank of Singapore Limited (DBS Bank Ltd) - Source: internet)
Under the decision, the branch's charter capital can now be raised from the current 20 million USD to 70 million USD.
The HCMC branch of DBS Bank Ltd. is responsible for implementing its recapitalisation programme in accordance with applicable laws. After the completion of all recapitalisation procedures, the HCMC branch will have to submit the documents on revising its charter capital to the SBV.
DBS Bank Ltd. is one of the largest banks in Southeast Asia, with more than 280 branches spread across 18 markets. The bank opened its office in Ho Chi Minh City in 2010.
As of September 2015, DBS Bank Ltd. earned 5.246 billion USD in net interest income./.