Second financial firm allows foreign ownership Business

Second financial firm allows foreign ownership

Hanoi-based brokerage IB Securities JSC and its shareholders decided on September 21 to become the second financial firm in Vietnam to allow foreign investors to own up to 100 percent of its company.
MDB to be merged into Maritime Bank Business

MDB to be merged into Maritime Bank

The Mekong Development Bank (MDB) is set to merge with the Vietnam Maritime Commercial Bank (Maritime Bank) to form an institution among the country's five largest banks in terms of charter capital.
State Bank takes over GP Bank Business

State Bank takes over GP Bank

The State Bank of Vietnam (SBV) took over Global Petrol Bank on July 7, after the bank failed to meet a deadline to have secured legal capital requirements.
Business

State Bank takes control of Ocean

The State Bank of Vietnam (SBV) officially acquired Ocean Bank on May 8, gaining all its equity, including its charter capital of some 4 trillion VND (190.48 million USD).
Business

Vietinbank, PG Bank to merge in Q3

The Vietnam Bank for Industry and Trade (Vietinbank) will merge with Petrolimex Group Commercial Joint Stock Bank (PG Bank) in the third quarter of this year, said Nguyen Van Thang, Chairman of Vietinbank's Board of Directors, at the bank's Annual Shareholders' Meeting.
BIDV plays a growing role in Laos Business

BIDV plays a growing role in Laos

The Bank for the Investment and Development of Vietnam (BIDV) has successfully invested abroad, particularly in Laos, according to a leader of the bank.
Vietcombank still hunts for merger Business

Vietcombank still hunts for merger

Foreign trade lender Vietcombank continues looking for a merger partner, according to a statement by bank Chairman Nghiem Xuan Thanh, speaking during an April 24 shareholders meeting.
Business

Maritime Bank and MDB set to merge

Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh has approved in principle the merger of the Maritime Bank and the Mekong Development Bank (MDB).
Investors buy 49 million Vietnam Airlines shares Business

Investors buy 49 million Vietnam Airlines shares

The national flag carrier Vietnam Airlines sold more than 49 million shares worth 1,093 billion VND (52.05 million USD) at its initial public offering (IPO) at the HCM City Stock Exchange on November 14.