BID: BIDV Contributes Capital to Establish BIDV-MetLife

Joint Stock Commercial Bank for Investment and Development of Vietnam has set up BIDV Metlife as follows:

-         The State Bank of Vietnam (SBV) on July 11, 2014 had document on the proposal of Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to contribute capital to establish BIDV-MetLife Life Insurance Joint Venture Company.

-         Accordingly, the SBV’s Governor approved BIDV’s capital contribution to establish BIDV-MetLife Life Insurance Joint Venture Company as proposed by BIDV. 

-         This is the joint venture between BID which holds 35% stake and Metlife Corporation which holds 60% stake, BIC holds 5% stake.

-         The firm is allowed to run business in 50 years since the date getting operation license.  

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