Vietnam Banking News

Advertisements

Random Post

• Vietnam, EC handle trade matters
• Hanoi halts 11 golf course projects
• IEP Ranks Vietnam 38th in Global Peace Index 2010
• Produces to export mineral
• Cash crops may fail to cash in
• Gold Dips to 2-Week Lows on Sharp Selloff

Vietnam Banking News

Vietnam Business » Vietnam Banking News » Banks rush to change names

Banks rush to change names

A Deputy Director General in one of these banks, said his bank had to change his name because of changes in ownership structure. The new owners, they wanted their banks have old names, because that would impair the ability of the bank to a company "great". Besides banks to change their name because of changes in ownership

Many names of banks have emerged new market in recent years, although the State Bank has not authorized new banks. This is due to a number of banks have changed their names.

These include Toan Cau Joint Stock Bank (G-Bank), Bank Petrolimex Bank (PG) Saigon-Hanoi (SHB) and the Bank Mien Tay (West Bank). Previously, the G-Bank was the Rural Bank Ninh Binh, and the bank was the Dong Thap Muoi Rural GP of the World Bank.

A Deputy Director General in one of these banks, said his bank had to change his name because of changes in ownership structure. The new owners, they wanted their banks have old names, because that would impair the ability of the bank to a company "great". Besides banks to change their name because of changes in ownership, other banks have changed their name because of changes between the largest shareholders of banks. G-Bank has recently changed its name to GP after the Bank has changed its ownership structure.

Former board member of a rural bank that has undergone a name change, said: "When a country girl goes to big cities, can not maintain the rustic names Mit (Jack-fruit) or Oi (Guava) . It must change its name to have a beautiful name Urban Lan (Orchid) and Huong (Aroma). The same situation occurs with the rural banks, which have become like banks in the city. "

Similarly, Co C (Red Flag) Rural Bank has changed its name to Mien Tay Bank and the Bank Tay Phuong.

One banker said: "The name of Mien Tay Bank does not allow the bank to customers in Hanoi, Ho Chi Minh City, Hai Phong, or the bank changed its name back to Patrick Tay Bank." Meanwhile The English name of the bank remains unchanged - Western Bank.

rural banks are not the only ones who want to change their name; existing city banks want to change their names too. For example, public companies, the Bank has not changed its name to the prosperity of Vietnam Joint Stock Commercial Bank.

A senior officer of the prosperity of Vietnam Joint Stock Commercial Bank, said the bank had to change his name because of changes in the structure of large shareholders. The new owners want to start a "revolution" and "revolution" begins with the name change of the bank.

Almost a year ago, an urban bank considered supported by a mid-sized bank of exceptionally high growth experience and decided to change its name and brand recognition. A banking source has revealed that all major changes in the bank of the origin of shareholders against a major purchase additional stock and proportional enough to become the main decision maker in the bank.
A former CEO of a rural bank now operates as a bank in town, said: "After you have changes in ownership of shares by banks, changes in name and brand recognition could be considered positive signs "

After changing owners and names, most banks have become more efficient, "he said.

Vietnam Business And Financial News Network. Source [english.vietnamnet.vn]

More Vietnam Banking News:

• Vietcombank posts $146mil in profit
• Capital abundant at some banks and deficient at other banks
• Banks rush to open savings funds
• Three new money-bound laws promulgated
• Savings banks proliferate in response to State Bank curb on branches
• Banks back cheaper apartments
• Vietnamese bank CEO earns one million dollars a year?
• Vietnam Interbank Trading of Dong At Fresh Record High, Tops VND100Tln
• VIB to Finance VND3T to Rice, Seafood Exporters in Vietnam Mekong Delta
• Vietnam Central Bank Sets Dollar Exchange Rate At VND18,544

Popular Vietnam Business News

Tasco plans to raise chartered capital to 135 billion dong

In details, the company will issue 5.5 million shares for existing shareholders with par value of 10,000 dong per share, under the ratio of 1:1 or one old share for

Vinashin Affiliate Launches First Car-carrying Ship

. Ha Long Shipbuilding Company, an affiliate of Vietnam Shipbuilding Industry Group (Vinashin), launched a 70,000 DWT car-carrying vessel on Tuesday, July 21 in the northern province of Quang Ninh.

Tolls proposed on cars using downtown streets

The citys Tien Phong Technology Joint Stock Company has proposed starting toll collection on cars using downtown streets from January 2012 with a fee level from US$1 to US$2, or

Vietnam hub recalls milk with content deficiencies

Health inspectors in Ho Chi Minh City on Wednesday ordered the recall of five milk products that did not contain the quantity of protein announced on their labels, and suspended

Leap in exports pushes trade deficit to $5.4b in five months

The countrys trade deficit reaches US$5.4 billion in the first five months of the year, according to experts from the General Statistics Office (GSO). The trade deficit was equivalent to

World Bank Predicts US$2.6B Surplus in Vietnam Balance of Payments in 2010

An excess of US$11.7 billion in the capital account will help Vietnam cover a shortfall of US$9.1 billion in the current account this year, the Hanoi-based Chief Economist Martin Rama

HCM City holds global marketing expo

The countrys first-ever International Advertising Equipment and Technology Exhibition opened August 5 in HCM City. The three-day event, Vietad 2010, has attracted more than 150 booths and nearly 70 domestic

Businesses weary of revised automatic import license procedure

Long Quoc Trung, Director of Matsu Electronics, a distributor of refrigeration equipment from Malaysia, said he is nervous because after two weeks, he still has not got confirmation of his

Advertisement