More banks on verge of merger

This month, three banks and a financial corporation are expected to merge to form two big banks.

On September 8, PetroVietnam Finance Group and Western Bank will hold a meeting of shareholders to set up a united bank to be called Vietnam Public Bank or PVcomBank with a charter capital of VND9 trillion and a network of 102 trading centers across the country.

Meanwhile, DaiA Bank will hold an unscheduled general meeting of shareholders on September 25 to discuss the merger with HD Bank, various bank regulations after the merger, and other relevant material. After the merger, the new bank will have a charter capital of more than VND8 trillion.

By Bao Minh – Translated by Thuy Doan

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