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WHOLESALE BANKING | Cesar Tordesillas, Vietnam
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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.

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