On October 17, 2024, the Military Commercial Joint Stock Bank (MB) officially accepted Ocean Commercial Joint Stock Bank (OceanBank) as a new member. This is an important milestone for MB before its 30th anniversary, bringing opportunities to expand operations, deploy new business models for MB and OceanBank, while ensuring system safety, ensuring the interests of OceanBank's customers and contributing to macroeconomic stability.
Governor of the State Bank of Vietnam Nguyen Thi Hong handed over the decision on the compulsory transfer of OceanBank to MB to Mr. Luu Trung Thai - Chairman of the Board of Directors of MB.
MB accepts new members
Over the past time, with the correct policy of the Party, the determination of the Government, the Prime Minister, ministries, branches, the State Bank, MB and OceanBank have closely coordinated to carry out the transfer steps carefully, ensuring strict conditions, order and procedures, and fully complying with legal regulations.
Mr. Luu Trung Thai - Chairman of MB Board of Directors spoke at the ceremony
After the transfer, the legal rights of depositors and customers at OceanBank are guaranteed in accordance with the agreement and legal regulations; OceanBank's service activities are guaranteed to be smooth and continuous. The process of receiving OceanBank to MB has been successful. MB will prioritize resources from business development, capital, technology, human resources... to support new members in the group. OceanBank continues to promote business activities and sustainable and effective development, increase financial and technological capacity, and actively contribute to the overall development of the economy.
The Board of Directors of MB decided to appoint Mr. Le Xuan Vu, Member of the Executive Board of MB as MB Representative, to take on the position of Permanent Deputy General Director of OceanBank. Mr. Vu has nearly 30 years of experience and many years of holding senior management positions at prestigious credit institutions, especially in the field of banking transformation and modernization. With the task of being in charge of operations at OceanBank, Mr. Vu is believed to contribute to increasing the management and operational capacity of OceanBank in the coming time.
Corporate synergy - MB's growth driver
The acquisition of OceanBank on the eve of its 30th anniversary marks an important turning point for MB as MB Group develops into a corporation with an ecosystem including 3 banks (MB, MBCambodia, OceanBank) and 6 member companies (MBS, MBCapital, MIC, MB Ageas, MBAMC, Mcredit), while contributing to expanding the growth space for MB.
MB Group develops into a corporation with an ecosystem including 3 banks and 6 member companies.
“Currently, MB's ecosystem is a financial group with full financial services from securities, fund management, banking, insurance and consumer finance, creating the most complete and largest endogenous driving force in the banking and finance industry,” said MB's leader.
OceanBank will be restructured with a long-term development strategy and thorough investment, aiming at a modern, safe and sustainable bank.
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