Merger DaiABank - HD Bank, unknown route

DaiABank merger policy and HD Bank were shareholders at the rate of 100% equity participation.


    Although the memorandum of principles merger between Bank and HD Bank DaiA signed nearly one year ago and has been the State Bank of Vietnam (SBV) approved in principle, but the 2nd period last AGM of DaiABank , with the merging of the new HD Bank shareholders. However, the merger route has yet to be announced specific sides.

    Plan DaiABank HD Bank merged with the share swap ratio of 1:1 in favor of shareholders DaiABank


    In materials distributed to shareholders at the time of the shareholder meeting DaiABank not mention HD Bank merged with the content, but only DaiABank Board said, as demand divestment of major shareholders, including ACB , so banks must implement the restructuring. The restructuring plan is DaiABank said, can restructure or merger or consolidation with another bank. However, in light AGM held 15/6 in the city. Bien Hoa (Dong Nai province), a large number of shareholders for inclusion in the agenda for the content agreement and cooperation between HD Bank DaiABank (namely between the two programs merged banks) and chaired Group agreed to add this content to the meeting. As a result, the merging of the HD Bank DaiABank were shareholders at the rate of 100% equity participation.


    According to the report of the Board DaiABank in Restructuring Scheme DaiABank 2013-2015 period, the Bank has chosen to cooperate with HD Bank plans to restructure. So DaiABank signed an agreement in principle with HD Bank on 10.09.2012 in restructuring guidelines approved by the office of the State Bank of 804/NHNN-TTGSNN.m on 10/17/2012. When merged, DaiABank shares will be swapped to banking consolidation 1:1, ie 1 share swap DaiABank is a 1 share consolidation of banks. Regarding personnel, key officials of the two banks will be maintained until the merger and staff remain stable after the merger. Bank after the merger will be increased financial strength and scale of operation.


    Shareholders elected DaiABank this additional four board members, bringing the total number of board members to seven. In the last 4 members, 2 members from the HD Bank Minh Duc Nguyen (Deputy General Manager) and Ms. Nguyen Thi Van (Deputy CFO). Two other members are Mr. Chu Vietnam Vietnam Phuong Dinh Cuong and his men are SOVI, shareholders are engaged HD Bank executive.


    With a 100% voting results support HD Bank plan to merge with, we can see that the share swap ratio of 1:1 after the merger between the two banks is quite beneficial for shareholders DaiABank. Because, in terms of asset size, capital and operating results, much better than the HD Bank DaiABank. HD Bank is chartered capital of VND 5,000 billion and operating profit continuously for the past year. In 2012, HD Bank profit 326 billion, accounting for bad debts ratio 2.35% of total loans. Meanwhile, in DaiABank, new capital reached 3.100 billion and bad debt situation of the bank rose sharply in 2012, to 5.28%. Last year, only DaiABank profit 246 billion, equivalent to 40% of shareholder communication plan.


    Thus, after a long wait time, the merger plan between the Bank and HD Bank DaiA was given for comments and approval DaiABank shareholders. But market information as well as shareholders of the two banks are expected to merge specific route has not been disclosed either side. DaiABank currently headquartered in Dong Nai and 2 branches are concentrated in large cities, TP. Ho Chi Minh City and Hanoi.