On January 17, 2025, the State Bank of Vietnam (SBV) announced its decision to transfer GPBank, which is 100% state-owned, to VPBank under the plan approved by the Government.

Mandatory transfer is one of the restructuring measures for specially controlled credit institutions (CIs) as stipulated in the Law on Credit Institutions. The transfer of GPBank to VPBank is carried out in accordance with applicable laws and the approval of competent authorities, with the goal of gradually restoring normal operations, addressing weaknesses, and transforming GPBank into a financially healthy bank, ensuring its ability to operate continuously. For VPBank, this transfer provides an opportunity to expand its business scale, customer base, and network. VPBank may maintain GPBank as a subsidiary bank or sell/transfer it to a new investor after completing the transfer process.
Following the transfer, GPBank will continue to operate as a single-member limited liability bank wholly owned by VPBank, conducting commercial banking activities in compliance with regulations. The legal rights of depositors and the rights and obligations of GPBank’s customers will continue to be protected in accordance with agreements and legal provisions. GPBank remains an independent legal entity and will not consolidate its financial statements with VPBank’s consolidated financial statements.
VPBank will exercise its ownership rights over GPBank in accordance with regulations. To support GPBank, VPBank will inject capital into GPBank during the transfer process to enhance its financial capacity, develop business operations, and improve performance, with the total capital contribution not exceeding 20% of VPBank’s charter capital. This capital injection will be carefully considered and submitted to the General Meeting of Shareholders for approval to ensure both VPBank’s financial stability and the interests of its shareholders. Additionally, VPBank will transfer its expertise and knowledge to support GPBank’s restructuring under the transfer plan.
VPBank and GPBank will also benefit from other support measures provided by competent State authorities in accordance with the Law on Credit Institutions and other relevant regulations.
VPBank is a leading bank in Vietnam’s banking system with strong financial capability. The transfer of GPBank to VPBank is expected to help revive GPBank while safeguarding the legitimate interests of VPBank’s shareholders and employees. This move demonstrates the trust of the Government and the State Bank of Vietnam in VPBank’s reputation, capability, and experience, reaffirming its role in implementing the Government and SBV’s policies. Through this, VPBank contributes to financial and monetary market stability, strengthening investor and public confidence in the banking system.

About VPBank:

As one of the earliest established joint-stock commercial banks in Vietnam, VPBank has maintained a sustainable growth trajectory for over 30 years. It is currently one of Vietnam’s leading commercial banks in terms of operational efficiency and business profitability. VPBank is a strong player in the retail and SME banking segments. Additionally, VPBank is a pioneer in digital transformation, providing customers with the best and fastest financial products and services.

Contact Information:

Tel: (024) 7305 6600 - Ext: 54111
Email: ir@vpbank.com.vn