DSpace at VNU: Các nhân tố ảnh hưởng đến việc sáp nhập và hợp nhất của các ngân hàng thương mại cổ phần Việt Nam

The competitive capacity of the Vietnam joint-stock commercial banks.. Solution bank merger and acquisition to strengthen the competitive capacity of the Vietnam joint-stock commercial

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Các nhân tố ảnh hưởng đến việc sáp nhập và hợp nhất của các ngân hàng thương mại cổ phần

Việt Nam

Nguyễn Minh Phương

Đại học Quốc gia Hà Nội Chuyên ngành: Quản trị kinh doanh; Mã số: 60 34 05

Người hướng dẫn: PGS TS Đặng Đức Sơn

Năm bảo vệ: 2012

Abstract: Overview of bank acquisition and merger The competitive capacity of

the Vietnam joint-stock commercial banks Solution bank merger and acquisition

to strengthen the competitive capacity of the Vietnam joint-stock commercial banks

Keywords: Quản trị kinh doanh; Ngân hang; Hợp nhất; Sáp nhập;

Content

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vi

TABLE OF CONTENT

ACKNOWLEDGEMENT i

ABSTRACT ii

TÓM TẮT iv

TABLE OF CONTENT vi

LIST OF TABLES x

LIST OF FIGURES AND GRAPHS xi

LIST OF ABBREVIATIONS xii

INTRODUCTION 1

1 The practical application of the study 1

2 The aim of the thesis 2

3 Topic and scope of study 3

4 Research Methods 3

5 Structure of the thesis 4

CHAPTER 1: OVERVIEW OF BANK ACQUISITION AND MERGER 5

1.1 Overview of acquisition and merger 5

1.1.1 Concepts 5

1.1.2 Forms of acquisition and merger 5

1.2 Method of bank acquisition and merger implementation 8

1.2.1 Negotiation with the Board of Directors and Executive Board 8

1.2.2 Collection of stocks on the securities markets 9

1.2.3 Public tender 9

1.2.4 Purchase of property 10

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1.2.5 Proxy fights 10

1.3 The benefits and drawbacks of bank acquisition and merger 11

1.3.1 The benefits of bank acquisition and merger 11

1.3.2 Drawback of bank acquisition and merger 14

1.4 The relationship between acquisition and merge with the competitiveness of the bank 17

1.5 The role of investment banking in business acquisition and merger 18

1.6 Acquisition and merger in the world 20

CONCLUSION OF CHAPTER 1 25

CHAPTER 2: THE COMPETITIVE CAPACITY OF THE VIETNAM JOINT STOCK COMMERCIAL BANKS 26

2.1 Overview picture on the Vietnam joint stock commercial banks 26

2.2 The competitive capacity of the Vietnam joint stock commercial banks 28

2.2.1 Size of working capital 29

2.2.2 Foreign strategic partners 30

2.2.3 Fund mobilization activities 30

2.2.4 Credit activities 32

2.2.5 Operation network: 33

2.2.6 Real situation on products and services of the Vietnam joint stock commercial banks 35

2.2.7 Information technology 36

2.3 Advantages and disadvantages of the Vietnam joint-stock commercial banks 37

2.3.1 Advantages 37

2.3.2 Disadvantages of the Vietnam joint-stock commercial banks 45

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2.4 Vietnam’s commitments when joining WTO 49

2.4.1 The commitments on market access 49

2.4.2 Commitments on national treatment 50

2.5 Securities Market and the attractiveness of banking shares 51

2.5.1 The stipulations of the Government on bank legal capital 51

2.5.2 Vietnamese Securities Market 52

2.5.3 The attractiveness of banking shares 54

2.6 The legal environment affecting the business mergers and acquisitions activities in Vietnam 57

2.7 Bank mergers and acquisitions in Vietnam 59

2.7.1 Bank mergers and acquisitions in Vietnam before 2004 59

2.7.2 Buying back shares at joint stock commercial banks in Vietnam recently 60 2.8 Inevitability, objectiveness and conformability with international economic development trend of bank mergers and acquisitions process 65

CONCLUSION CHAPTER 2 69

CHAPTER 3: SOLUTIONS BANK MERGERS AND ACQUISITIONS TO STRENGTHEN THE COMPETITIVE CAPACITY OF THE VIETNAM JOINT STOCK COMMERCIAL BANKS 70

3.1 The solutions for implementation of bank mergers and acquisitions 70

3.1.1 Exploring, searching, evaluating and carefully surveying the potential targets 70

3.1.2 Developing the criteria for selection of target banks in line with reality 71

3.1.3 Meeting, negotiating with Executive board of the target banks 75

3.1.4 Determining carefully and reasonably the acquisition price 77

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3.1.5 Selecting the appropriate payment method of bank acquisitions and mergers

80

3.1.6 Making plans to harmony corporate culture and brand 81

3.1.7 Building flexible human resources policies 82

3.2 The solutions for reducing the inefficiencies after the merger 83

3.2.1 Propagandizing fully on all the necessary information about the merger 84

3.2.2 Evaluating the synergy effect 84

3.2.3 Evaluating the bad debts and contingent liabilities 85

3.2.4 Planning for consolidating the trading system software 86

3.3 Solutions on the role of investment banks in bank mergers and acquisitions in Vietnam 86

3.4 Solutions on the role of the Government in control and management of bank mergers and acquisitions 87

3.4.1 The operation mechanisms of the market in M&A market 87

3.4.2 The participants in the merger and acquisition market 90

3.4.3 Human resources involved in the M & A market 90

CONCLUSION FOR CHAPTER 3 91

CONCLUSION 92

READING REFERENCES 94

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READING REFERENCES

Online resource

 FPT Security at www.fpts.com.vn

 VCB Security at www.vcbs.com.vn

 Cafef at www.cafef.vn

Documents

1 Annual reports of the State Bank Vietnam from 2002 to 2010

2 Annual reports of ACB from 2002 to 2011

3 Annual reports of Sacombank from 2002 to 2011

4 Annual reports of TCB from 2002 to 2011

5 Annual reports of MB from 2002 to 2011

Vietnamese

6 Ths Trần Đình Cung và Ths Lưu Minh Đức (2007), Thâu tóm và hợp nhất từ khía cạnh quản trị công ty: lý luận, kinh nghiệm quốc tế và thực tiễn Việt Nam

7 Bùi Tấn Định (2007), Nâng cao năng lực cạnh tranh của các ngân hàng thương mại Việt Nam khi Việt Nam chính thức gia nhập Tổ chức thương mại thế giới (WTO)

8 Vũ Việt Phong (2007), Xu hướng sáp nhập ngân hàng trong quá trình hội nhập kinh tế, Tạp chí Hỗ trợ phát triển số 18 tháng 12/2007

9 TS Nguyễn Trọng Tài (2008), Canh tranh ngân hàng thương mại – nhìn từ góc độ lý luận và thực tiễn tại Việt Nam, Tạp chí Ngân hàng số 4, tháng 2 năm 2008

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95

10 TS Huỳnh Thị Thúy Giang (2008), Sáp nhập ngân hàng - một xu thế không thể đảo ngược, Tạp chí Ngân hàng số 12 tháng 6 năm

2008

11 Thùy Vinh (2008), Làn sóng sáp nhập sẽ đến sớm hơn dự kiến, Tạp chí Đầu tư chứng khoán số 57 tháng 5 năm 2008

12 Hoàng Thị Khánh Tâm (2008), Ứng dụng mô hình APV trong phân tích hoạt động sáp nhập và mua lại công ty (M&A) tại Việt Nam,

13 Gia Linh (2008), Thành lập ngân hàng mới: Dừng lại là vừa?, Tạp chí Đầu tư chứng khoán số 36 tháng 3 năm 2008

14 Thùy Vinh (2008), Ngân hàng có còn siêu lợi nhuận, Tạp chí Đầu

tư chứng khoán số 37 tháng 3 năm 2008

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