MB issues bills of exchange in US dollar for plus interest rate

Saturday, May 10, 2008
In next two months, Military Commercial Joint Stock Bank (MB) will issue the US dollar bills of exchange for bonus interest rate from May 6 to July 6 with the payment method in cash or account transfer. The bills of exchange have a term of 3, 7 and 11 months with the minimum face value of US$100 and its multiple.
The book entry bills carry a post-paid interest rate of 5.8% per annum.
Accordingly, the bonus interest rate is 0.01-0.1% per annum for each term whereby the interest rate of bills of exchange will be higher 5.6-5.8% pa of ordinary US dollar saving rates.
The bills can be mortgaged or sold back to the bank.
In addition, the bank also announced that it would pay a 2007 dividend of 30% in shares.
The deadline to close a list of shareholders receiving the dividend is 5pm on May 30, 2008.
Last year MB posted a chartered capital of two trillion dong, total ownership capital of nearly 3.550 trillion dong, increasing 2.57 times over the start of 2007.
As targeted, MB's chartered capital will be raised to 3.4 trillion dong within this year.