Compulsory transfer of GPBank to VPBank, DongA Bank to HDBank

ANTD.VN - GPBank and DongA Bank will be one-member limited liability commercial banks with 100% charter capital owned by VPBank and HDBank .

On January 17, 2025, in Hanoi, the State Bank of Vietnam held a ceremony to announce the Decision on compulsory transfer of 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).

GPBank and DongA Bank officially transferred to VPBank and HDBank

Compulsory transfer of weak credit institutions is one of the solutions to contribute to ensuring macroeconomic stability, national financial and monetary security, political stability and social order and safety. This issue is of concern to competent authorities, and is strongly directed by the Government and the Prime Minister.

The State Bank has closely coordinated with ministries, branches and relevant agencies to direct banks to develop compulsory transfer plans and submit them to competent authorities for approval in accordance with legal regulations.

After the mandatory transfer, GPBank and DongA Bank will be one-member limited liability commercial banks with 100% charter capital owned by VPBank and HDBank.

The State Bank affirms that under the management of VPBank and HDBank as owners, all legitimate rights of depositors and customers at GPBank and DongA Bank continue to be guaranteed in accordance with the agreement and provisions of law.

“VPBank and HDBank are joint stock commercial banks with sufficient capacity, experience and solid foundation to successfully implement mandatory transfer plans.

At the same time, with the mechanism applied according to the provisions of law, the mandatory transfer is also an opportunity for VPBank and HDBank to expand operations and deploy new, modern business models" - said the State Bank.

Source: https://www.anninhthudo.vn/chuyen-giao-bat-buoc-gpbank-cho-vpbank-donga-bank-cho-hdbank-post601418.antd