The State Bank of Vietnam (SBV) issued Decision No. 589/QĐ-NHNN on April 25 to approve the merger of the Mekong Housing Bank (MHB) into the Joint- Stock Commercial Bank for Investment and Development of Viet Nam (BIDV).
Accordingly, the SBV revokes License No. 140/GP-NHNN dated July 23, 2012 for the MHB and terminates its effectiveness.
The SBV required the BIDV to be responsible for receiving all assets, rights, obligation and legitimate interests of the MHB. Within 15 working days from the effective date of the Decision, BIDV is required to complete procedures of registering, publicizing the merger and complying with other relevant regulations.
MHB is responsible to transfer all assets, rights, obligation and legitimate interests to the BIDV.
Within 15 working days from the effective date of the Decision, MHB is required to implement procedures for deleting MHB name in enterprise registration book in accordance with law; to publicize the merger with BIDV, termination of operations and the resolution of relevant rights and obligations in line with laws; and to perform other obligations in compliance with law.
This Decision takes effect from May 5, 2015.
TLH