Habubank shareholders okay merger with SHB

Habubank’s shareholders have approved the plan to merge with Saigon-Hanoi Commercial Joint Stock Bank.

The merger plan entails the creation of a bank also to be named Saigon-Hanoi Commercial Joint Stock Bank. It will have a charter capital of VND8.866 trillion.

Habubank will transfer all of its assets, rights, obligations, labors and legal interests to SHB, putting an end to the brand-name Habubank.

Shareholders of the newly-merged bank will not receive dividends in the following 2-3 years, emphasized Bui Thi Mai, general director of Habubank. But they can  exchange each HBB share for 0.75 SHB unit.

For more, click here.