The State Bank of Vietnam has just approved the mergence of BIDV Leasing Company II (Leasing II) to BIDV Leasing Company (Leasing I) at the Decision No. 1659/QD-NHNN dated 29/07/2011. Accordingly, Leasing Company I has responsibility for receiving all assets, rights, obligations and legal interests of Leasing Company II; completing the business registration procedures and publishing the mergence in accordance with the regulations of the law.

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On the same day, the Governor of the State Bank also made the decision No. 1660/QD-NHNN on approving the change of name of Leasing Company I to BIDV Financial Leasing Co., Ltd, its abbreviated name in English is BLC with a capital of 447.8 billion VND owned 100% by BIDV, its head office is located in Ho Chi Minh City. The Company will continue to operate in the filed of financial leasing, operating leasing, selling and subleasing…        

Currently, the company has over 900 customers nationwide with nearly 2,000 Financial leasing contracts. According to the data reported by Finance Leasing Association, the market share of BLC to 30 June 2011 accounted for about 18% of the entire market. After the emergence, the ability to issue credit to one customer is up to 112 billion VND against 60 billion VND previously. Thus, the Enterprises, especially small and medium-sized enterprises lacking of capital will be supported more capital. In addition, BLC is also added to the working capital loans for leasing customers, provide packages to customers, create the linkages between two parties. The mergence of two companies helps BIDV manage the financial leasing activities focused at a focal point as well as unify the business operation.