YKVN advised VPBank and HDBank on mandatory bank acquisitions

YKVN advised VPBank in the acquisition of the State-owned Global Petro Sole Member Limited Commercial Bank (GPBank). Additionally, YKVN represented HDBank in its acquisition of Dong A Joint Stock Commercial Bank (DongA Bank).

These acquisitions are part of the Vietnamese government’s restructuring strategy for underperforming banks currently under the special control of the State Bank of Vietnam (SBV) and represent two of four such transactions planned to address systemic weaknesses in the banking sector. YKVN earlier counselled Joint Stock Commercial Bank for Foreign Trade of Vietnam on mandatory acquisition of the State-owned Construction Bank (CB).

The mandatory acquisitions were officially announced on January 17, 2025. GPBank and DongA Bank will continue operating as sole member limited liability commercial banks, with charter capital wholly owned by VPBank and HDBank, respectively. Completion of these transactions will permit the banks to gradually restore normal operations and resolve ongoing challenges. Moreover, the acquisitions provide VPBank and HDBank opportunities to expand their business networks and adopt innovative, modern business models.

Partners Truong Nhat Quang and Vu Dieu Huyen led the YKVN team, with support from Counsel Huynh Thong.

YKVN has been at the forefront of Vietnam’s banking restructuring efforts, spanning from the first wave in 2012 to the latest developments in 2023-2025.

More about the transaction here.

Image: © Vneconomy

For more information, please contact YKVN Marketing Team:

T: (+84-28) 3 822 3155
marketing@ykvn-law.com