SBV approves Habubank and SHB merger
The State Bank of Vietnam (SBV) on June 15 approved in principle a plan to merge the Hanoi Building Commercial Joint Stock Bank (Habubank, or HBB) and the Saigon-Hanoi Commercial Joint Stock Bank (SHB).
The central bank also asked the two commercial banks to complete their merger in line with the SBV regulations as stipulated in Circular No. 04/2010/TT-NHNN dated February 11, 2010, and submit a report on the merger to the SBV Governor for approval.
The planned merger was approved earlier by the both banks' shareholders at the 2012 Annual General Shareholders Meeting last month. After the merger, one HBB share will be equal to 0.75 SHB share.
The new bank will be called the Saigon-Hanoi Commercial Joint Stock Bank, with charter capital of nearly VND9 trillion ($432 million) and total assets of over VND100 trillion ($4.8 billion).
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Latest News
More News
- The promotion of ESG via banking (November 21, 2024 | 09:32)
- Standard Chartered committed to Vietnam’s financial success (November 21, 2024 | 09:24)
- Full ESG adoption the priority for Agribank (November 21, 2024 | 09:07)
- Banks entice youth with tech advances (November 21, 2024 | 08:00)
- ESG represents a shift towards sustainability for banks (November 20, 2024 | 13:00)
- GGGI supports Vietcombank’s debut of $80 million green bonds (November 20, 2024 | 11:20)
- SHB and the ESG journey: creating social value in every step (November 19, 2024 | 15:00)
- Banking sector contributes to ESG, green growth, and sustainable development (November 19, 2024 | 14:42)
- ESG implementation in banking: from awareness to action (November 19, 2024 | 12:08)
- VIR hosts 'ESG in Banking: Leading Through Implementation' conference (November 19, 2024 | 11:14)
Mobile Version