Nguyễn Thị Phương Thảo details the revival of Đông Á Bank into Vikki Bank after its transfer to HDBank

At HDBank’s 2026 annual general meeting, Dr. Nguyen Thi Phuong Thao, executive vice chair of Ho Chi Minh City Development Commercial Joint Stock Bank (HDBank), discussed the bank’s first-time account of the process of reviving Đông Á Bank through its takeover and restructuring into Vikki Bank.

Revival of Đông Á Bank into Vikki Bank

HDBank’s leadership reported that Vikki Bank generated profit after just seven months, attracting more than 2.5 million customers. The takeover and restructuring of Đông Á Bank into Vikki Bank, and its conversion to Vikki Bank, was described as both a business opportunity and a contribution to the stability of the national financial system.

“After taking over Đông Á, HDBank has transformed this bank; one could call it a revival miracle. Đông Á Bank has been restructured and developed again with digital banking products, creating jobs for 4,000 employees,” Thao told shareholders.

She added that the restructuring preserved employment and continued banking work for employees, while employee incomes at Vikki Bank increased by more than 70% in 2025—the first year after the transfer. Thao also said that Vikki Bank is currently a key focus of HDBank’s digital banking development.

Additional M&A activity and restructuring

Thao further noted that beyond Vikki Bank, HDBank previously merged with Đại Á Bank and then a consumer finance company into HD Saison. She described HD Saison as among the leading consumer finance companies, with “solid operations and assets,” and said it is undergoing the process of converting from a limited liability company to a joint-stock company.

“This is a notable demonstration of HDBank’s M&A capability. All institutions acquired at that time were in very difficult situations, but now they have revived and developed dramatically. All staff retained their jobs and moved to a new development phase,” she said.