Themeeting documents posted on Vietcombank's website do not mention thisdeal. Vietcombank had total assets of 469 trillion VND (22.23 billionUSD) as of the end of last year, an increase of more than 13 percentover the previous year, according to its audited financial report.
Vietcombank'spre-tax profit for last year reached 5.743 trillion VND (273.4 millionUSD), meeting approximately 99 percent of the target. With the economicsituation improving, the management board proposed aiming for pre-taxprofits of 5.5 trillion VND (261.9 million USD) this year, slightlylower than last year.
Japan's Mizuho Bank is now the strategicstakeholder of Vietcombank with a 15 percent stake. Vietcombank alsoholds stakes between 4 and 10 percent in Military Bank, Eximbank, PhuongDong Bank and Sai Gon Bank.
If Vietcombank's deal is announced,the banking sector will witness at least four mergers and acquisitionsthis year as part of the restructuring process.
PGBank, a memberof Petrolimex, may sell 99 percent of its stake to Vietinbank. The salewill be discussed at the annual shareholder meeting on April 18.
Ata meeting last month, Sacombank shareholders agreed to the bank's planto merge with Southern Bank, which will be implemented this year. Themerger of Mekong Housing Bank and Maritime Bank has also attractedattention.-VNA