DongA Bank wants name retained in case of merger

DongA Bank will consider merging with another lender if shareholders approve it on late March.

This was announced by DongA Bank CEO Tran Phuong Bin

A  number of credit institutions have sought to carry out merger with DongA Bank to co-develop and provide the banking services, Binh confirmed.

In preparation for possible merger, the unlisted lender will work with its strategic consultant on business development and other advisors in May. But he emphasized that the brand name of DongA Bank must be retained after merger.

Typically, a merger between a South-based bank and North-based one would be better for network development and market allocation, Binh commented.

DongA Bank has been actively seeking for foreign strategic partners, Binh said, adding that many financial institutions have expressed their interests in the bank.