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Banking sector consolidation in Vietnam

Vietnam will see at least six mergers in the banking s ector soon. Already three mergershave happened in the country this year as part of the government’s efforts to consolidate the banking sector. According to news reports, DongA Bank has signed a merger agreement with the smaller An Binh Bank. In a similar development, Vietinbank’s officials announced that a merger agreement with PGBank is awaiting the central bank’s approval. Similarly, Sacombank and Southern Bank have voted for a merger and their plan is now pending government approval as well. Eximbank, another major lender, is likely to strike a deal with Nam A Bank. Previously, the central bank approved a merger between Mekong Development Bank and Maritime Bank, and planned a tentative deal for SaigonBank and Vietcombank.

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