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VCSC Daily - First bank sector merger announced – Markets fail to maintain gains

The first voluntary bank merger announced today We had been expecting something to happen in the banking sector in December. Today, on the fourth business day of the month, at a press conference this morning, Mr. Nguyen Van Binh, the State Bank of Vietnam (SBV)’s governor announced the first three joint-stock commercial banks to merge voluntarily, namely De Nhat (Ficombank), Vietnam Tin Nghia and Saigon Commercial Bank (SCB) due to recent liquidity problem caused by the excess use of short-term