Compulsory transfer of GPBank and DongA Bank

Following the mandatory transfer, GPBank and DongA Bank will be wholly-owned limited liability banks, with VPBank and HDBank respectively owning 100% of their charter capital.

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

Leaders of the State Bank of Vietnam and representatives of the transferring bank, GPBank, and the receiving bank, VPBank, attended the announcement ceremony. Photo: VGP

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

These will be wholly-owned limited liability banks, with VPBank and HDBank owning 100% of the charter capital. 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 legal regulations.

VPBank and HDBank are commercial banks with sufficient capacity, experience, and a solid foundation to successfully implement mandatory transfer plans. At the same time, with the mechanism applied according to legal regulations, the mandatory transfer also presents 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