A senior leader of Vietnam Maritime Commercial Joint Stock Bank (HoSE: MSB) said that the bank is preparing a plan to merge with another bank to submit to the General Meeting of Shareholders for approval and the State Bank for approval according to the agency's suggestion.
"The trend of mergers in the banking sector is inevitable. We are considering and choosing a bank that is suitable for our development orientation to carry out the merger, helping MSB increase its scale faster. PGBank is one of the banks we are interested in," said an MSB representative.
The information shared by MSB's leaders is consistent with many rumors when many personnel who held important positions at MSB joined PGBank one after another.
MSB confirmed that it does not rule out the possibility of merging with another bank, possibly PG Bank.
Previously, in May 2020, Mr. Hoang Xuan Hiep joined PG Bank from MSB and is currently Deputy General Director in charge of Debt Processing and Collection, Legal and Compliance Department.
In November 2020, Mr. Nguyen Phi Hung - former Deputy General Director of MSB was also appointed as Acting General Director of PG Bank and is currently the General Director of this bank.
PGBank's website also introduces that in April 2021, Mr. Nilesh Banglorewala, former CFO and Chief Accountant of MSB, was also appointed as a member of the Board of Directors of PG Bank.
Mr. Oliver Schwarzhaupt, former Deputy General Director and Director of Risk Management of MSB, was also appointed as a member of the Board of Directors of PG Bank from April 26, 2022.
Mr. Do Thanh Cong - Deputy General Director in charge of Re-evaluation and Approval Division, who just joined PG Bank on February 1, 2023, has held many important roles at MSB such as: Member of Credit and Investment Council; Member of Risk Management Committee; Member of Risk Handling Council...
According to the information announcement, MSB is expected to hold its annual shareholders' meeting on April 21, 2023 to report on its 2022 performance and approve many important plans for 2023.
Currently, PGBank has a charter capital of 3,000 billion VND, with Vietnam National Petroleum Group ( Petrolimex ) being the only major shareholder holding over 5% of shares.
However, Petrolimex has just announced that it has been granted a certificate by the State Securities Commission to offer to the public 120 million PGB shares of PGBank that the group is holding in the form of a public auction at HoSE.
The above shares are equivalent to 40% of PGBank's shares. The starting price is 21,300 VND - equivalent to the offering value of 2,556 billion VND .
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