Shareholders approve DaiABank-HDBank merger

September 30, 2013 | 09:47

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Shareholders of DaiABank during the extraordinary shareholders meeting on Wednesday approved the plan to merge with HDBank at the share swap ratio of 1:1.

Shareholders of DaiABank approve merger with HDBank at the extraordinary shareholder meetingon Wednesday - Photo: Courtesy of DaiABank

Based in southern Dong Nai Province, DaiABank has chartered capital of VND3.1 trillion and nearly 70 transaction units in the country. Bad debts of the bank are reported in trade, steel, construction and real estate sectors.

Meanwhile, HDBank has capital of VND5 trillion and 106 transaction points nationwide.

The consolidated bank will keep the brand of HDBank and have a chartered capital of VND8.1 trillion. Given the merger deal, all employees of DaiABank will be retained.

The new bank will have total assets of over VND70 trillion and 210 transaction points to serve 420,000 individual and institutional customers. The bank will have around 3,600 employees.

HDBank expects to organize an extraordinary shareholding meeting on Saturday to approve the merge plan. Recently, HDBank has acquired 100% equity of Société Générale Viet Finance (SGVF) while it has also owned stake in low-cost carrier VietJet Air.

SGT

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