(ĐN)- Dong Nai-based Dai A Commercial Joint Stock Bank (DaiABank) will merge with HCM City Development Bank (HDBank), according to the plan approved the State Bank of Viet Nam (SBV).
(ĐN)- Dong Nai-based Dai A Commercial Joint Stock Bank (DaiABank) will merge with HCM City Development Bank (HDBank), according to the plan approved the State Bank of Viet Nam (SBV).
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DaiABank has been operating in Dong Nai since 1993 as the first joint stock bank in the province.It began with a charter capital of VND 1 billion (US$47,619) and experiences of 20 years of rapid growth.
The bank has chosen the merger plan with HDBank to create a stronger credit institution, bringing benefits to the two banks.
Under the merger plan, the new bank will have a chartered capital of VND8.1 trillion,more than 4,000 employees, total assets of over VND85 trillion and more than 210 branches and transaction offices nationwide.
All DaiA Bank employees will maintain their current working positions as well as wages and salaries. Moreover, DaiA Bank shares will be converted into HD Bank shares at a 1:1 ratio.
The merger will be completed in December 2013.
Reported by V.L
