The name change was effected by Decision No. 30/QD-TTGSNH1 dated January 17, 2025, of the Inspection and Supervision Agency, State Bank of Vietnam, on amending the operating license of Vietnam Commercial Joint Stock Construction Bank (CB).
Accordingly, from January 17, 2025, Construction Bank officially operates under the following new name:
- Full name: Vietnam Commercial Joint Stock Foreign Trade and Digital Technology Bank
- Full name in English: Vietcombank Neo Limited
- Abbreviation: VCBNeo
 New abbreviated name of Construction Bank
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Vietcombank has recently completed its leadership team with the appointment of Mr. Nguyen Van Tuan, Chairman of CB’s Board of Members, as Deputy General Director of Vietcombank, effective January 16, 2025. Simultaneously, Mr. Nguyen Manh Hung, a member of Vietcombank’s Board of Directors, was appointed as Chairman of the Board of Members (in combination) of CB from the same date.
Previously, on October 17, 2024, Vietcombank officially received the transfer of the zero-dong bank, CB. Following the mandatory transfer, CB became a Vietnam Commercial Joint Stock Bank with Vietcombank owning 100% of its charter capital.
Currently, the State Bank has completed the transfer of three zero-dong banks and one weak bank as planned. Specifically, CB was transferred to Vietcombank, OceanBank (newly abbreviated as MBV) to MBB, GPBank to VPBank, and DongA Bank to HDBank.
– 16:05 21/01/2025
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Vietnam-Russia Joint Venture Bank: A Dynamic Evolution in Charter Capital
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The Big Four Banks in Vietnam Report Impressive 2024 Financial Results: Agribank Leads with Outstanding Performance, VietinBank Posts Near 15% Loan Growth, BIDV and Vietcombank on Track to Meet Targets
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Appointment of the New Head of the Office of the State Bank of Vietnam: A Step Towards Progress
The State Bank of Vietnam has announced several key appointments and decisions made by the Governor. These include the appointment of the new Head of the Forecasting and Statistics Department, the Chief of the Office of the State Bank, the Chairman of the Management Board of the Vietnam National Credit Information Center (CIC), and the Deputy General Director of CIC. Additionally, the Governor has assigned an acting General Director for CIC. These strategic moves underscore the State Bank’s commitment to strengthening its leadership and management capabilities.
What’s the Story with Zero-Balance Banks Post-Mandatory Transfer?
The $0 balance bank has demonstrated remarkable growth in both credit and capital mobilization. The post-handover operating phase went off without a hitch, ensuring smooth and uninterrupted transactions and operations.
