One year of forced transfer, what are the four weak banks doing now?

On October 9, the State Bank held a conference to review the implementation of the compulsory transfer plan after nearly a year of implementation.

List of mandatory transfer banks includes: OceanBank to MB, CBBank to Vietcombank, DongA Bank to HDBank , and GPBank to VPBank.

After nearly a year, the banks that were forced to transfer have achieved positive results: perfecting their organizational structure, strengthening senior personnel, changing their names and adopting new brand identities, and leveraging the power of their sponsoring brands to strengthen customer confidence.

Basically, the banks that are being forced to transfer have completed their organizational structure model and strengthened their senior personnel, changed their names, brand identities and launched new brands to maximize the strength of the sponsoring brands of the banks receiving forced transfers, creating trust for customers.

The banks that have been forced to transfer have actively reviewed and rearranged their operating networks, and at the same time requested the State Bank to consider approving and allowing the development and expansion of their networks to optimize operating costs as well as the ability to access and develop customer scale.

Compulsory transfer banks are gradually upgrading and converting their information technology systems with the aim of meeting the needs of continuous business operations as well as ensuring the safety and security of bank information.

In addition, the operations of the banks that were forced to transfer have had positive changes. Accordingly, the scale of total assets, mobilized capital, and outstanding loans have all grown strongly. Bad debts have been gradually handled, and some banks have made profits or reduced losses compared to the same period in 2024. Basically, the 4 banks that were forced to transfer have closely followed and completed the first year's targets of phase 1.

Speaking at the Conference, Governor Nguyen Thi Hong and Deputy Governor Pham Quang Dung directed and assigned tasks to the receiving banks and the banks to be forced to transfer to urgently and actively deploy solutions to ensure that the forced transfer plan is implemented in accordance with the content approved by the competent authority.

Units, departments and bureaus under the State Bank need to base on their functions and tasks, closely follow the direction of the Government, the Prime Minister and the State Bank's leaders to promptly review and advise on handling difficulties, problems and recommendations of banks participating in compulsory transfer.

The goal is to support banks to properly implement the approved plan, gradually restore normal operations, overcome weaknesses, and aim to become an organization with a healthy financial situation and stable operations, contributing to strengthening trust and ensuring safety for the entire banking system.

GPBank recently officially announced its new brand identity and changed its name to Prosperity Era Commercial Limited Liability Bank (GPBank).

GPBank is one of the four banks that were forced to transfer recently, along with OceanBank, CBBank, and Dong A Bank.

Previously, OceanBank changed its name to MBV after being transferred to MB, CBBank changed its name to VCBNeo after being transferred to Vietcombank and Dong A Bank changed its name to Vikki Bank after being transferred to HDBank.

Source: https://dantri.com.vn/kinh-doanh/mot-nam-chuyen-giao-bat-buoc-4-ngan-hang-yeu-kem-gio-ra-sao-20251010115205237.htm