(Vietnam) – East Asia Bank (EAB) is increasing its legal capital from VND120 billion (US$8 million) to VND200 (US$13.3 million) billion in order to fund business growth in the country.New shares worth VND40 billion are being offered in March, VND30 billion of which are to go to existing shareholders and the remaining VND10 billion to new stakeholders. A further VND40 billion in shares is be issued by year’s end.
The increased capitalisation is designed to help the Bank grow its lending book according to EAB general director Tran Phuong Binh.