Maritime Bank allows to acquire textile finance JSC

Maritime Bank (MSB)’s request to take over Textile and Garment Finance Joint Stock Company (TFC) has recently received approval from the State Bank of Vietnam (SBV).

A staff member checks USD notes at Maritime Bank (Photo: VNA)

Under Official Letter No.1003/NHNN-TTGSNH, the SBV Governor agreed in principle the merger plan approved by Boards of Directors of MSB and TFC.

TFC is a subsidiary of the Vietnam National Textile and Garment Group (Vinatex).

MSB is requested to complete paperwork required in Point 2, Article 19, Circular 04/2010/TT-NHNN of the SBV on the merger and acquisition of credit institutions.

Source: VNA

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