The State Bank of Vietnam (SBV) issued Document No. 1003/NHNN-TTGSNH on February 13 to allow the Vietnam Maritime Joint-Stock Commercial Bank (MSB) in principle to acquire the Vietnam Textile and Garment Finance Joint Stock Company (TFC).
Accordingly, MSB is allowed in principle to acquire the TFC in line with Acquisition Plan approved by the Board of Directors of the MSB in Resolution No. 20.06/2015/NQ-HĐQT dated January 16, 2015, and by the TFC in Resolution No. 01/2015/NQ-HĐQT dated January 16, 2015.
The SBV has required the MSB to be responsible for completing dossiers in accordance with Item 2 of Article 19 of Circular No. 04/2010/TT-NHNN dated February 11, 2010 on M&A of credit institutions to be submitted to the SBV Governor for approval.
DH