After nearly a year of mandatory transfer, four banks — CBBank, Oceanbank, GPBank and DongABank — have shown significant improvements in operations, finance and technology, contributing to the overall recovery of Việt Nam’s banking system, according to State Bank of Vietnam (SBV) Governor Nguyễn Thị Hồng.

 

Earlier this year, the SBV completed the mandatory transfer of the four vulnerable banks to stronger institutions — Vietcombank, MB, HDBank and VPBank — as part of efforts to stabilise and strengthen the financial sector.

 

Hồng said the four banks had basically completed their organisational structures and consolidated senior management.

 

They have also rebranded, launching new names and brand identities that leverage the reputation of their acquiring banks to build customer confidence.

 

In addition to reviewing and restructuring their operating networks, the banks have sought SBV approval to expand and optimise their branch systems, helping to reduce costs and reach more customers.

 

They have also been gradually upgrading and modernising their information technology systems to ensure secure, efficient and continuous operations.

 

Notably, the four transferred banks have achieved strong growth in total assets, deposits and outstanding loans. Bad debts are being steadily resolved, with some institutions reporting profits or reduced losses compared to the same period in 2024.

 

Hồng said the banks had essentially met the goals set for Phase 1 of the Mandatory Transfer Plan.

 

She urged the transferred banks, their sponsoring institutions and relevant SBV departments to work closely to address challenges and support implementation of the transfer plans, with the aim of restoring normal operations, strengthening financial health and ensuring long-term stability. — BIZHUB/VNS

 

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