Vietnam's Habubank doubles capital to $124 mln
HANOI, Jan 2 (Reuters) - Vietnam's Habubank, 10 percent owned by Deutsche Bank (DBKGn.DE), said on Wednesday it had completed a share issue doubling its registered capital to 2 trillion dong ($124 million).
Hanoi-based unlisted Habubank won approval from the State Securities Commission last November to issue 60 million shares, of which 59.99 million went to existing shareholders, 1,000 to Deutsche Bank and 9,000 to staff.
The registered capital of partly-private Habubank, also known as Hanoi Building Bank, doubled to 2 trillion dong as of Dec. 27, from 1 trillion dong at the end of 2006.
The registered capital determines the size of deposits and loans of a bank in Vietnam.
Habubank's market value was now about $478 million based on unofficial share prices of 38,000-39,000 dong ($2.36-$2.42) on Dec. 28, the last day prices were available.
Habubank has not yet reported its full 2007 results, but the bank said its assets jumped 65.6 percent to 19.36 trillion dong in the 10 months ended October 2007 and loans rose 46.8 percent to 8.78 trillion dong.
The bank made a gross profit of 391 billion dong in the first 10 months of last year, up from 248 billion dong in gross profit for the whole of 2006.
In a separate statement on Wednesday, Hanoi-based Technological & Commercial Bank said its registered capital jumped 68 percent to 2.52 trillion dong by the end of 2007. The bank is 15 percent owned by HSBC Holdings Plc (HSBA.L) (0005.HK). ($1=16,112 dong) (Reporting by Ho Binh Minh; Editing by Darren Schuettler)
