The State Bank of Viet Nam has approved Asia Commercial Bank (ACB)’s proposal to increase its charter capital from VND11.25 trillion (US$479 million) to VND12.88 trillion ($548.34 million).

ACB reported a net profit of VND2.46 trillion in the first half of the year. — Photo ACB

Under the approval, the central bank has asked ACB to ensure that the capital increase is in accordance with the law, including regulations on stake ownership limits applied for shareholders and relevant persons.

ACB’s capital increase will be made through paying dividends in shares to existing shareholders.

At the end of July, ACB also announced it would pay dividends in shares to its shareholders at a ratio of 15 per cent in the third quarter of this year.

ACB reported a net profit of VND2.46 trillion in the first half of the year, 2.5 times higher than the same period last year. The bank’s outstanding loans in the period rose by 11.7 per cent to VND219.59 trillion while mobilised capital was up 10.9 per cent to VND267.8 trillion.

At the end of June, the bank’s total assets had reached VND309.96 trillion, up 9 per cent against the previous year. — VNS