HDBank Takes Command in Vietnam's Banking Restructuring

HDBank is set to take over DongA Bank under the central bank's directive, as part of Vietnam's effort to restructure its banking system. HDBank plans to expand operations, enhance lending, and develop new business models, with central bank support ensuring the effectiveness of the takeover.

In a strategic move to revamp Vietnam's banking sector, Ho Chi Minh City Development Bank (HDBank) is poised to take over DongA Bank, as ordered by the central bank.

This acquisition aligns with national efforts to address bad debt and strengthen financial institutions. HDBank aims to broaden its operational outreach while boosting lending capabilities and developing innovative business models.

The central bank will extend support to HDBank to ensure a smooth takeover, which will focus on rehabilitating DongA Bank into a financially stable entity.

(With inputs from agencies.)