Vietnam's central bank allowed Lien Viet Bank to change its name to Lien Viet Post Joint-Stock Commercial Bank after joining forces with Vietnam Post Corporation.
Lien Viet Post Bank, as the bank is known now, will be responsible for registering and publicizing its new name in accordance with the law, the State Bank of Vietnam said in a statement Friday.
The merger would enable Lien Viet to use nearly 10,000 outlets of the postal company to expand its banking services and increase its registered capital from VND5.65 trillion to VND6.01 trillion.
It would, however, have had to deal with losses of VND145 billion incurred by the postal savings company.
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