Vietnam SBV yet to get merger plan between SHB and HBB

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VietStock FI English - 71 month(s) ago 12 readings

At the press conference held by the State Bank of Vietnam (SBV) on April 14, the central bank's governor Nguyen Van Binh, confirmed that the central bank has not received merger plan between Saigon Hanoi Commercial Joint Stock Bank (SHB) and Hanoi Housing Development Commercial Joint Stock Bank (Habubank-HBB) yet.

After the merger of three banks namely Vietnam Tin Nghia Commercial JS Bank, De Nhat Commercial JS Bank and Saigon Commercial JS Bank in late 2011, the information about the consolidation between SHB and HBB is the focus of bankers.

Currently, both SHB and HBB do not officially voice the merger but this information has been published in many newspapers as formal information with many specific evidences.

Especially after the local newspaper VnEconomy said, "Memorandum of Understanding (MoU) No. 01/2012 dated March 08, 2012 between HBB - SHB" has been signed and the central bank has approved in written the merger of two banks.

However, as of April 11, the central bank governor said that the central bank has not received any plans from these two banks, so it does not have any specific comment.

Presently, both banks are listing shares on the stock market. SHB has been classified in the Group 1 with credit growth limit this year at 17 percent by the central bank while HBB has been categorised in the Group 3 with credit growth quota of only 8 percent in 2012.

Therefore, if the merger occurs, the credit growth rate in 2012 of bank after the merger, share prices of two banks and the interests of shareholders are a matter of concern first.

On April 20, both banks of SHB and HBB will jointly organise their annual general meeting (AGM) 2012. As planned, the merger content will be the focus of attention of the shareholders as well as bankers.

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