First Gulf Bank to become the TrustBank's strategic shareholder

TRUSTBank will have a strategic foreign partner after it increases its chartered capital by US$100 million this year, according to a company official.

Chairman Hoang Van Toansaid that a contract had been concluded with First Gulf Bank of the United Arab Emirates for the latter to become the bank's strategic shareholder when it increase its capital from the current US$153.7 million.

Toan said that there would be other potential partners but disclosed no details during yesterday's inauguration of the bank's new asset management affiliate company, the TRUSTAsset.