Commission approves first securities merger

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The State Security Commission of Vietnam approved the first ever merger between the two securities companies of Military Bank Securities(MBS) and VIT Securities (VITS) last week.

The merger between the two securities companies of Military Bank Securities and VIT Securities is the first one of its type in the country. — Photo Tinnnhanhchungkhoan.com

HA NOI (Biz Hub) —The State Security Commission of Vietnam approved the first ever merger between the two securities companies of Military Bank Securities(MBS) and VIT Securities (VITS) last week.

MBS is an affiliate of the Military Bank and VITS is a member of the VIT group, active in the property, financial investment, and communications markets.

The commission granted a certificate of registration to the new company under the name of MBS with a chartered capital VND621 billion (US$29.5million).

The new securities company is expected to start working on November 1.—VNS

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