Ho Chi Minh City, May 25, 2015 - Bank for Investment and Development of Vietnam JSC (BIDV) and Mekong Housing Bank (MHB) signed a minutes of handover and announced the merger MHB into BIDV. This is the final step to complete the merger. Attended the signing ceremony were representatives of the State Bank of Vietnam, Ministry of Finance, the People's Committee of Ho Chi Minh City, etc.

The entire merger process was completed within 55 days after the State Bank issued a decision on establishing the Steering Committee for the merger and within only 1 month after the State Bank Governor issued Decision 589/QD-NHNN approving the merger. All preparation work for the merger complied with the plan and roadmap set out, and strictly adhered to Circular 04/2010/TT-NHNN dated February 11, 2010 by the Bank State and provisions of current laws.

Following the Decision No. 589/QD-NHNN dated April 24, 2015 by the State Bank, MHB completed the legal procedures for termination of its legal entity, announcement of termination of operation in accordance with regulation. BIDV also completed procedures of merger announcement, business registration, stock swap, etc. Earlier, 44 MHB branches completed the procedures and signed merger handover minutes with BIDV in the presence of government leaders, the State Bank branches in provinces and cities where the branches are based.

After May 22, 2015, MHB brand was officially dissolved. From May 25, 2015, all branches of MHB will operate under the name of BIDV.

The merger follows the scheme on restructuring the credit institutions in the 2011-2015 period under the Decision 254/QD-TTg dated 01/03/2012 by the Prime Minister. In addition, the merger also helps BIDV increase its total assets, customer base, network, especially strengthen the capacity of BIDV in the agriculture sector and rural areas in the Mekong Delta region - which is the strength of MHB, thereby improving business performance to be the leading bank in Vietnam, capable of competing with banks in the region.

After the merger, BIDV’s total assets will increase to over VND700 trillion with charter capital of over 34 trillion, network of nearly 1,000 transaction points nationwide and nearly 24,000 officers and employees.

The overarching principle of the merger is that BIDV will inherit and ensure all legal interests of customers, shareholders and employees of the two banks. The merger was implemented on an as-is basis with stock swap ratio at 1:1.

With this merger, BIDV continues to affirm its position as the leading financial institution which always complies seriously with the direction of the government and the central bank in the restructuring of credit institutions under the Decision 254/QD-TTg by the Prime Minister. The merger of MHB into BIDV is the pioneering transaction in the scheme on restructuring credit institutions in the phase 2 in 2015.

For further information, contact:

Hotline: 19009247

Website: www.bidv.com.vn