Maritime Bank (MSB)’s request to take over Textile and Garment Finance Joint Stock Company (TFC) has recently received approval from the State Bank of Vietnam (SBV).

Under Official Letter No.1003/NHNN-TTGSNH, the SBV Governor agreed in principle the merger plan approved by Boards of Directors of MSB and TFC.

TFC is a subsidiary of the Vietnam National Textile and Garment Group (Vinatex).

MSB is requested to complete paperwork required in Point 2, Article 19, Circular 04/2010/TT-NHNN of the SBV on the merger and acquisition of credit institutions.-VNA