Government wants Agribank’s capital hiked by 50%

By Quynh Trang   April 25, 2023 | 08:53 pm PT
Government wants Agribank’s capital hiked by 50%
Agribank employees speak to a customer at an event. Photo courtesy of Agribank
The government plans to increase Agribank’s charter capital by nearly 50% to VND51.43 trillion (US$2.19 billion).

It has instructed the State Bank of Vietnam to draft and present plans for this to the National Assembly in May.

The hike is meant to take the bank’s capital adequacy ratio, now slightly below the minimum requirement of 8%, to a safer level.

The last time Agribank’s capital increased was in 2020 when it received an infusion of VND3.5 trillion from the government.

The bank achieved a pre-tax profit of VND22 trillion last year, which put it among the top five in the sector.

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