The Governor of the State Bank of Vietnam assigned the task to the receiving banks and the compulsory transfer

The total assets, mobilized capital, and outstanding loans of the four compulsory transfer banks all grew strongly. Bad debts were gradually handled, and some banks were profitable or had reduced losses compared to the same period in 2024.

At the conference to review the implementation of the compulsory transfer plan of banks after nearly 1 year of implementation, organized by the State Bank of Vietnam (SBV) on the afternoon of October 9, the "health" of 4 compulsory transfer banks was revealed.

The 4 banks that were forced to transfer include: Ocean Bank (OceanBank) was transferred to MB, renamed Vietnam Modern Bank (MBV); Construction Bank (CB) was transferred to Vietcombank, renamed Foreign Trade Bank for Digital Technology (VCBNeo); Dong A Bank (DongA Bank) was transferred to HDBank , renamed Vikki Digital Bank (Vikki Bank); Global Petroleum Bank (GPBank) was transferred to VPBank, and has just been renamed Prosperity Era Bank (GPBank).

According to the State Bank's assessment, after nearly a year of implementing the transfer, the compulsory transfer banks have achieved positive results.

The four compulsory transfer banks have completed their renaming and new brand identity.

In particular, banks have completed their organizational structure models and strengthened their senior staff, changed their names and brand identities, and gradually built trust with customers.

The banks that have been forced to transfer have actively reviewed and rearranged their operating networks, gradually upgraded and converted their information technology systems to meet the needs of continuous business operations as well as ensure safety and security.

In addition, the operations of the banks that were forced to transfer have had positive changes. The scale of total assets, mobilized capital, and outstanding loans have 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 four initially transferred banks have closely followed and implemented the first year plan in phase 1 of the compulsory transfer plan.

Governor of the State Bank of Vietnam Nguyen Thi Hong and Deputy Governor Pham Quang Dung have directed and assigned tasks to the banks receiving and being 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 competent authorities.

Previously, at the 2025 Annual General Meeting of Shareholders of HDBank, Mr. Pham Quoc Thanh, CEO of HDBank, said that Vikki Bank is in the process of comprehensive restructuring, especially in the transformation from a specially controlled bank into a digital bank, Vikki Digital Bank.

“Vikki Bank is undergoing a transformation and there is no bottleneck in the transformation process. We will implement the Vikki Bank strategy in the retail and SME segments, in line with the group’s development strategy,” said Mr. Thanh.

At the annual general meeting of shareholders of VPBank , General Director Nguyen Duc Vinh affirmed that 2025 will be the first year GPBank makes a profit after a long period of losses. Previously, GPBank lost thousands of billions of VND or more each year, but this year it will achieve a minimum profit of 500 billion VND.

At MBV, at the recent online Investor Conference organized by MB, Mr. Vu Thanh Trung, Vice Chairman of the Board of Directors of MB Bank and Chairman of the Board of Directors of MBV Bank, said that MBV's business activities are closely following the set plan and goals.

"After more than 10 years of continuous losses, this year MBV will definitely stop losing money," Mr. Trung affirmed.

Meanwhile, information about VCBNeo's business results has not been revealed yet.

Source: https://vietnamnet.vn/thong-doc-nhnn-giao-nhiem-vu-cho-cac-ngan-hang-nhan-va-duoc-chuyen-giao-bat-buoc-2451022.html