return icon Vietnamnet.vn

MB likely to acquire OceanBank in a no-cost deal

MB on March 15 held a conference to present details on the bank's current status, as well as its strategic approach for the future.

MB likely to acquire OceanBank in a no-cost deal

MB is rumoured to be a potential acquirer of Ocean Bank, one of three struggling institutions that, together with GPBank and CBank, are subject to special supervision by the central bank. The expected acquisition is said to be at no cost to MB.

Luu Trung Thai, vice chairman and CEO of MB highlighted that the collaboration with OceanBank could present strategic and commercial advantages for both parties.

Following the government-approved roadmap, MB will engage with OceanBank to examine its data system and provide a proposal for consideration.

MB is likely to be awarded a greater credit limit thanks to the potential deal with OceanBank.

Thai also stressed that the bank has no current plans to offload its ownership of two of its member firms, insurer MIC and securities company MBS.

"We have no plans to sell MIC and MBS, as these businesses are essential to MB's capacity to build a leading financial group," he said.

In 2021, the bank’s credit growth hit 25 per cent and it anticipates a 20 per cent rise this year.

The bank’s consolidated profit for the first quarter is expected to reach around $240 million.

“We estimate that the actual profit in the first two months of this year has closely matched this forecast,” Thai added.

Source: VIR

More bank M&A deals on the horizon

More bank M&A deals on the horizon

This year, changes of hands are likely at some banks, in addition to mergers and acquisitions (M&A) and share sales to foreign partners. 

MORE NEWS

Fire engulfs ancient house inside Quoc Tu Giam relic site in Hue City

A building in the UNESCO-recognised Quoc Tu Giam (Imperial Academy) relic in the imperial city of Huế was seriously damaged by fire on Wednesday afternoon.

Largest travel expo to kick off in HCM City in September

The International Travel Expo in HCM City, the largest travel exhibition in Vietnam, will be held at the Saigon Exhibition and Convention Center (SECC) in District 7 in September.

Centralised bidding should be implemented to solve drugs and medical supplies shortage

A sudden increase in the number of patients has caused overloading and a shortage of equipment, medical supplies and chemicals at some central hospitals.

VIETNAM BUSINESS NEWS AUGUST 18

Denmark extends agri-food expertise to Vietnam

The Moffatts shoots video to promote the beauty of Vietnam

Canadian pop/rock band The Moffatts has visited Sa Pa, a famous tourist destination in the northern province of Lao Cai about 320 kilometres from Hanoi, and shot a music video to promote tourism.

VIETNAM NEWS HEADLINES AUGUST 18

Vietnam sends nearly 1 million guest workers in 2013-2021

Viettel wants to make chips amidst global shortage

Vietnam’s telecom giant Viettel Group has proposed developing and manufacturing chips for domestic and international markets.

Nguyen Danh Huy appointed as Deputy Minister of Transport

Prime Minister Pham Minh Chinh has signed a decision to appoint Mr. Nguyen Danh Huy, head of the Planning and Investment Department under the Ministry of Transport, as new Deputy Minister of Transport.

FLC, HAI face trading suspension

The Hochiminh Stock Exchange (HOSE) will ban FLC Group (FLC) and HAI Agrochem JSC (HAI) from trading their shares due to delays in releasing their audited 2021 financial reports.

Mid-Autumn Festival toy market in Hanoi crowded on evenings

The Mid-Autumn Festival is three weeks away, but many families and young people have flocked to Hang Ma Street (Hanoi) to go for a walk and buy toys.

Vietnam among best global destinations for foodies: Skyscanner

Skyscanner, a travel site based in Scotland, has named Vietnam among the world’s six best destinations for food lovers, alongside Mexico, India, Thailand, Nepal, and Singapore.

Vietnamese rapper 16 Typh hailed by famous hip-hop magazine

The prestigious music magazine HipHopDX has praised the music video of the hit “Million Dollar Boy” by Vietnamese rapper 16 Typh.

Vietnam's top tennis player enjoys record high in world rankings

Vietnam’s top tennis player Ly Hoang Nam has passed a milestone in his career when rising to the world’s No.332 in the latest Association of Tennis Professionals (ATP) rankings.

Vietnamese cultural village to be built in Korea

A Vietnamese cultural village will be built in the county of Bonghwa, Gyeongbuk province, the Republic of Korea, heard a recent meeting between the county’s mayor Park Hyun-guk and Vietnamese Ambassador Nguyen Vu Tung.

PetroVietnam proposes US$19 billion oil refinery complex and national oil reserve

The Vietnam Oil and Gas Group (PetroVietnam) has proposed to the Government an investment in a refinery and petrochemical complex and a national reserve of crude oil and petroleum products in Long Son Petroleum Industrial Park.
back_to_top