On 25 April 2015 the Governor of the State Bank of Vietnam (SBV) issued Decision 589/QD-NHNN approving the merger of Mekong Housing Bank (MHB) into the Bank for Investment and Development of Vietnam JSC (BIDV). This decision will take effect from 05 May 2015. The same day, the State Securities Commission (SSC) issued Certificate 19/GCN-SSC on the registration of issuance of shares for swap.

All legal procedures for the merger of MHB into BIDV have fully complied with SBV’s Circular No. 04/2010/TT-NHNN dated 21 February 2010 and Circular No. 204/2012/TT-BTC dated 19 November 2012 by the Ministry of Finance.

​The SBV’s Decision 589/QD-NHNN defines responsibilities of BIDV and MHB as follows:

BIDV’s responsibilities:

1.    Receive  all assets, rights, obligations and lawful interests from the Mekong Housing Bank.

2.    Complete all procedures for business registration and announcement of the merger in accordance with law.

3.      Perform other obligations in accordance with provisions of relevant laws.

MHB’s responsibilities:

Hand over all of its assets, rights, obligations and lawful interests to BIDV.Return the State Bank of Vietnam the original operation permit No. 84/GP-NHNN dated 23/04/2012 granted by the Governor of the State Bank.Implement procedures to deregister the name of MHB from the business registration book in accordance with law.Announce the merger and the termination of MHB operation and the settlement of relevant rights and obligations in accordance with law within 15 working days from the effective date of this decision.Perform other obligations in accordance with provisions of relevant laws.   

The merger of MHB into BIDV is expected to be fully completed on 22 May 2015.

Mr. Tran Bac Ha, BIDV Chairman said, “The merger process strictly complies with the provisions of Circular 04/TT-NHNN and Circular 204/TT-BTC. With this merger, BIDV continues to affirm its position as the leading financial institution which always complies with the direction of the Government and the SBV regarding the restructuring under the Prime Minister’s Decision 254/QD-TTg. Along with the merger, BIDV will adjust its business plan for the period 2015- 2017, continues to implement the State’s monetary policy and contributes to socio-economic development of the country”.

Mr. Ha was committed that BIDV is responsible to take all legal rights and obligations of MHB and ensure the rights of employees during and after the merger.