Maritime Bank to raise charter capital to $383M

Maritime Bank approved targets to reach total assets of US$7.18 billion and outstanding loans of US$2.76 billion in 2011. These figures are up 30 per cent and 81.27 per cent year-on-year. It also seeks to curb its bad debt ratio below 2 per cent.

Its pre-tax profit is expected to be US$88.6 million, growing 21.8 percent against 2010, and dividend estimated at 17 per cent this year.

Also the bank is planning to raise its charter capital from US$239.5 million to US$383 million in two phases: phase 1 from US$239.5 million to US$335 million by Q2 of 2011 and second phase from US$335 million to US$383 million by Q4.

It plans to open its 100 per cent-owned branches or subsidiaries in Laos and Cambodia, set up member companies in stock trading, financial leasing, insurance, overseas remittance field.