On February 17, DongA Bank’s branches and transaction offices across the country introduced a new brand identity as Vikki Bank, following its official name change over the weekend.
Along with the name change, DongA Bank has also relocated its head office from Ho Chi Minh City to Hanoi. All rights and interests of customers remain guaranteed.
Prior to this, on January 17, the State Bank of Vietnam organized a ceremony to announce the mandatory transfer of DongA Bank to HDBank.
Simultaneously, Global Petroleum Joint-Stock Commercial Bank (GPBank) was also mandatorily transferred to VPBank.
Currently, both GPBank and DongA Bank are joint-stock commercial banks with VPBank and HDBank holding 100% of their chartered capital.
Following the mandatory transfer and name change, Vikki Bank will operate as a new-generation digital bank, combining the most modern technology with a network of branches and transaction offices providing banking, financial, investment, insurance, tourism, and shopping services without limitations. The extensive network of digital banks will offer a modern, convenient, and safe customer experience with absolute security.
DongA Bank Changes its Name to Vikki Bank |
GPBank remains an independent legal entity and does not consolidate its financial statements with those of VPBank. Additionally, GPBank will either be maintained as a subsidiary bank or sold/transferred to a new investor after the conclusion of the mandatory transfer plan.
In October 2024, Vietnam Construction Bank (CB Bank) was mandatorily transferred to Vietcombank, while OceanBank was transferred to Military Bank (MB).
Subsequently, CB Bank was renamed Digital Foreign Trade Joint-Stock Commercial Bank (VCBNeo). Vietcombank also appointed a series of senior executives at VCBNeo.
OceanBank was renamed Modern Joint-Stock Commercial Bank (MBV), falling under the MB Group ecosystem. MB also appointed senior executives to the Members’ Council, Supervisory Board, and General Director position at MBV.
After the name change, the bank aims to focus on innovative, flexible, and optimal financial solutions to help customers maximize financial opportunities in the context of Vietnam’s strong digitalization.
Thus far, out of the banks that were previously zero-valued and under special control by the State Bank, three have changed their names: Dong A Bank to Vikki Bank, OceanBank to MBV, and CB Bank to VCBNeo. GPBank has not yet announced any new information.
As for Saigon Commercial Joint Stock Bank (SCB), the Prime Minister has directed the State Bank of Vietnam, through Directive No. 03 dated February 2, 2025, to soon complete the plan for restructuring credit institutions in conjunction with handling bad debts for the 2021-2025 period, as approved by competent authorities. The directive also emphasizes focusing on handling weak credit institutions and urgently submitting a restructuring plan for this bank.
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According to the State Bank of Vietnam, the mandatory transfer of weak credit institutions is one of the solutions that contribute to ensuring macroeconomic stability, financial and monetary security, and social order, safety, and security. The State Bank of Vietnam has been working closely with ministries, sectors, and relevant agencies to direct the formulation of mandatory transfer plans for these banks, submitting them to competent authorities for approval in accordance with legal regulations. |
Thai Phuong, Photo: Lam Giang
– 10:59 17/02/2025
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