UBO Vietnam increases charter capital, calls Vietnam a strategic market in ASEAN
(VOVWORLD) - United Overseas Bank Vietnam on Tuesday increased its charter capital from 2 billion USD to approximately 3.3 billion USD through capital injection from its Singapore-based parent bank UOB.
 (Source: UBO) |
This has been UOB Vietnam’s second increase in charter capital within the past three years, demonstrating its strong commitment to investing in long-term growth in Vietnam.
Victor Ngo, CEO of UOB Vietnam, said Vietnam is a strategic market for UOB in ASEAN. The decision to bolster capital is evidence of UOB’s long-term commitment to Vietnam’s development and confidence in Vietnam’s significant potential, he added.
This will help UOB realize its ambition to become a leading retail bank and a leading foreign bank in Vietnam, said Ngo.