MHB set to merge into BIDV

The State Bank of Vietnam on April 23 issued a document approving the merger of Mekong Housing Bank (MHB) and the Bank for Investment and Development of Vietnam (BIDV).
 
After being merged in May, the new bank will have a total capital of VND31,511 billion (US$1.46 billion) and total asset value of VND695 trillion (US$32.19 billion) comprising VND45 trillion from MHB.
 
By the end of last year, BIDV’s capital was VND28,112 billion and MHB’s neared VND3.4 trillion.

By Ham Yen – Translated by Hai Mien

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