Three out of four weak banks, previously acquired for zero dong, have reported profits after more than one year under the management of larger financial institutions. VCBNeo, GPBank, and Vikki Bank are among those now showing positive financial results following their mandatory transfers and comprehensive restructuring.
Global Petro Bank (GPBank) recorded a profit exceeding 500 billion VND in 2025, according to information from VPBank. This turnaround occurred less than a year after its mandatory transfer to VPBank, marking a significant improvement from its previous financial state.
Similarly, by the end of 2025, One-Member Foreign Trade Digital Technology Bank (VCBNeo), formerly known as Construction Bank, posted a profit of over 1,800 billion VND after its transfer to Vietcombank.
Vikki Digital Bank (Vikki Bank), previously Dong A Bank, also began to generate profits in 2025, as confirmed by leaders of HDBank, the acquiring entity.
Vietnam Modern One-Member Commercial Bank (MBV), the new name for OceanBank, also saw improved business results following its transfer to MB. MBV's total assets increased sharply from 40,000 billion VND to 91,500 billion VND by the end of september 2025. Credit outstanding loans rose from 33,600 billion VND to 65,300 billion VND, and capital mobilization reached 58,100 billion VND, an increase of 30%.
The State Bank of Vietnam previously identified accumulated debts and losses as the primary challenge in managing banks acquired for zero dong. These distressed institutions had accumulated tens of thousands of billions of VND in losses. For instance, Construction Bank reported over 31,000 billion VND in accumulated losses by the end of 2019, while GPBank averaged 1,000 billion VND in accumulated losses annually, according to VPBank's leadership.
A common strategy for three out of four of these weak banks after their mandatory transfer involved rebranding and repositioning them as digital banks, including: Vikki Bank, MBV, and VCBNeo.
For example, VCBNeo closed at least 25% of its transaction offices. Systemically, the bank upgraded its core banking system, launched a new digital banking application, refreshed its brand identity, and is exploring changes to its operating model.
Quynh Trang
