Maritime Bank gets nod to acquire finance firm
Maritime Bank has received approval from the State Bank to acquire the
Textile and Garment Finance JSC, an affiliate of the Vietnam National
Textile and Garment Group.
Maritime Bank has received approval from the State Bank to acquire the
Textile and Garment Finance JSC, an affiliate of the Vietnam National
Textile and Garment Group.
State Bank Governor Nguyen Van Binh issued the decision on June 12, saying that it would take effect on July 6. The company will be renamed Maritime Bank Finance Company Limited.
A shareholder meeting was told in May that the acquisition would turn the firm into a consumer finance company.
The bank will also complete a merger with the Mekong Development Bank in the second quarter.
The new institution will have 11.75 trillion VND (560 million USD) in equity and 113 trillion VND (5.38 billion USD) in total assets.-VNA
State Bank Governor Nguyen Van Binh issued the decision on June 12, saying that it would take effect on July 6. The company will be renamed Maritime Bank Finance Company Limited.
A shareholder meeting was told in May that the acquisition would turn the firm into a consumer finance company.
The bank will also complete a merger with the Mekong Development Bank in the second quarter.
The new institution will have 11.75 trillion VND (560 million USD) in equity and 113 trillion VND (5.38 billion USD) in total assets.-VNA
You should also see
PM raises proposals for ASEAN to become global digital transformation model
Prime Minister Pham Minh Chinh on April 23 proposed breakthrough orientations to make ASEAN a model in digital transformation globally, while co-chairing a business roundtable with his Lao counterpart Sonexay Siphandone in Hanoi.
See more
Sci-Tech
FPT, NVIDIA ink MoU to build 200 million USD AI factory
Vietnam’s tech giant FPT plans to build a 200 million USD artificial intelligence (AI) factory using Nvidia's graphics chips and software, as announced on April 23 in a comprehensive strategic partnership with NVIDIA.
Business
Lao Cai province calls for more Japanese investments
The advantages and potential of Vietnam’s northern border province of Lao Cai were introduced to Japanese firms at an investment and tourism promotion conference in Tokyo on April 23.
Business
Vietnam’s economy shows gradual recovery: WB’s report
Vietnam's economy is showing mixed signs of recovery in early 2024, with growth forecast to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released on April 23.
Business
Tra fish export to UAE jumps 67% in Q1
Vietnam’s tra fish export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year, statistics of the General Department of Customs showed.
Business
Central bank successfully auctions 3,400 taels of SJC-branded gold bars
The State Bank of Vietnam (SBV) released the outcome of the gold bullion auction on April 23, with two winning bidders securing 34 lots, equivalent to 3,400 taels of SJC-branded gold bars.
