Compulsory transfer of GPBank and DongA Bank

After the compulsory transfer, GPBank and DongA Bank will be single-member LLCs with 100% charter capital owned by VPBank and HDBank.

On January 17, the State Bank of Vietnam (SBV) held a ceremony to announce the decision to compulsorily transfer Global Petroleum Commercial Joint Stock Bank (GPBank) to Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) and DongA Commercial Joint Stock Bank (DongA Bank) to Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank).

Leaders of the State Bank and representatives of the transferred bank GPBank and the transferred bank VPBank attended the announcement ceremony. Photo: VGP

According to the State Bank, after the mandatory transfer, GPBank and

will be one-member LLCs with 100% charter capital owned by VPBank and HDBank. All legal rights of depositors and customers at GPBank and DongA Bank as before will continue to be guaranteed by VPBank and HDBank in accordance with the agreement and regulations of the law.

VPBank and HDBank are commercial banks with sufficient capacity, experience and solid foundation to successfully implement compulsory transfer plans. At the same time, with the mechanism applied according to the provisions of law, receiving compulsory transfer is also an opportunity for these two banks to expand their operations and deploy new, modern business models.

Source: https://nld.com.vn/chuyen-giao-bat-buoc-gpbank-va-donga-bank-19625011722033896.htm