The Governor of the State Bank of Vietnam (SBV) issued Decision No. 1844/QĐ-NHNN on September 14 on the merger of Southern Joint-Stock Commercial Bank (PNB) into Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank).
Accordingly, the SBV Governor approved the merger of Southern PNB into Sacombank and revoked the License No. 0030/NH-GP dated March 17, 1993 for PNB.
The Sacombank is responsible for (i) taking over all assets, rights, obligations and legitimate interests of PNB; (ii) completing all procedures of registering and publicizing the merger in line with law within 15 days from the effective date of Decision No. 1844/QĐ-NHNN; (iii) implementing other obligations in accordance with relevant laws.
The PNB is responsible for transferring all assets, rights, obligations and legitimate interests to the Sacombank; returning the original License No. 0030/NH-GP dated March 17, 1993 within 15 days from the effective date of Decision No. 1844/QĐ-NHNN; implementing procedures of erasing the name of PNB in the registering book in line with law; publicizing the merger, the termination of operations and resolving all rights and relevant obligations in compliance with law; implementing other obligations in line with relevant law.
The Decision No. 1844/QĐ-NHNN took effect from the date of signing.
DH