Archive for April, 2015

Credit institutions have at least five years of operation before making a merger.

The proposal was included in a recent draft circular on the restructuring of credit institutions, for which the central bank is seeking opinions from relevant agencies and individuals before approval.

The proposal also requires credit institutions to submit a feasibility plan for any mergers, have a minimum chartered capital after merger equivalent to the authorized capital and meet other ratios as defined by the laws to ensure healthy operation.

Read the remainder of this entry »