VIETNAM PRESS-Maritime Bank to merge with smaller lender - Lao Dong

Sun Apr 20, 2014 10:00pm EDT

Shareholders of Hanoi-based Maritime Bank have approved a merger with another Vietnamese lender, the Me Kong Development Bank, to form one of the country's five biggest banks in which the state owns only small stakes, the Lao Dong (Labour) newspaper reports.

Maritime Bank has also projected its gross profit this year at 265 billion dong ($12.6 million), below a net profit of 335 billion dong in 2013, the report said.


NOTE: Reuters has not verified this story and does not vouch for its accuracy. ($1=21,090 dong) (Hanoi Newsroom; Editing by Sunil Nair)