Abstract
Maritime Bank or MSB was founded in July 1991 and was headquartered in Hai Phong. As the name reflected, the bank's strategic shareholder at that time was Vinalines. Its founders include large SOEs such as Bao Viet Group and VNPT. From VND40 billion at the beginning MSN increased its charter capital to VND700 billion by the end of 2006. Having had major shareholders as large SOEs who sent their own people to represent at and manage the bank, MSB was not commercially operated and run by a loose governance system.
As for MDB, its predecessor was My Xuyen rural joint-stock commercial bank in An Giang. In Jan 2009 SBV allowed the bank to convert to urban joint-stock commercial bank, and ten months later as Mekong joint-stock commercial & development bank (MDB).