MHB merged into BIDV from May 25

The Mekong Housing Bank (MHB) is officially merged into the Bank for Investment and Development of Vietnam (BIDV) today after 18 years of operation.

The Mekong Housing Bank (MHB) has been merged into the Bank for Investment and Development of Viet Nam (BIDV) since May 25 (Photo: VNA)

In an announcement from BIDV, in the first phase of the merger customers will continue using MHB service as before until BIDV transfers all data to its system.

Money transfer transactions from BIDV to MHB branches via internet banking service are still conducted and charged as normal, meaning higher than BIDV’s internal transfer fee. Monthly, the bank will recalculate and give customers a refund.

BIDV has pledged to ensure all MHB customers’ rights after the acquisition. Previously, it was permitted by the State Bank of Vietnam to issue over 336,921,100 shares to swop for MHB stock at the ratio of 1:1. 

By Xuan Anh – Translated by Hai Mien

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