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VIETNAM PRESS-Maritime Bank to issue new shares for merger - Vietnam Economic Times
April 3, 2015 / 1:12 AM / 3 years ago

VIETNAM PRESS-Maritime Bank to issue new shares for merger - Vietnam Economic Times

Hanoi-based unlisted Maritime Bank will issue 375 million new shares to merge with Mekong Development Bank, a smaller unlisted lender, the Vietnam Economic Times newspaper reported, citing the merger contract.

The new entity will carry the name Maritime Bank, with a registered capital of 11.75 trillion dong ($545 million), the report said.

Their merger plan, as part of the country’s banking sector reform, has won central bank permission late last month.

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NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Hanoi Newsroom; Editing by Anand Basu)

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