16/12/2024

MBV Bank Strengthens Leadership Structure, Ready for a New Development Phase

Hanoi, December 16, 2024 – OceanBank officially announced its name change to Modern Bank of Vietnam Limited (MBV) and completed the restructuring of its leadership team, marking a significant milestone in its journey of transformation and readiness for a new development phase.

This name change complies with Decision No. 741/QĐ-TTGSNH1 dated December 5, 2024, issued by the Banking Supervisory Agency under the State Bank of Vietnam. The decision amended the “Bank Name” on OceanBank’s Establishment and Operation License. From December 18, 2024, the bank will officially operate under its new name:

• Full name in Vietnamese: Ngân hàng Trách nhiệm hữu hạn Một thành viên Việt Nam Hiện Đại
• English name: Modern Bank of Vietnam Limited
• Abbreviation: MBV

Significant changes in leadership
Along with the name change, MBV has restructured its leadership team, bringing in highly skilled and experienced professionals in the financial and banking industry.
• Mr. Vu Thanh Trung, Vice Chairman of the Board of Directors of MB Bank, has been appointed as Chairman of the Members’ Council of MBV.
• Mr. Le Xuan Vu, a Member of the Executive Board of MB Bank, has been appointed as a Member of the Members’ Council and CEO of MBV.

In addition, other members of the Members’ Council, Supervisory Board, and Executive Board of MBV have been carefully selected from the senior management team of MB Group, known for their extensive experience in the financial and banking sectors.

MBV’s strategic vision and mission
As a member of MB Group’s ecosystem, which includes 3 banks (MB, MBCambodia, MBV) and 6 subsidiary companies (MBS, MBCapital, MIC, MB Ageas, MBAMC, Mcredit), MBV is committed to its mission of delivering innovative, agility, and optimized financial solutions. These solutions aim to help customers maximize financial opportunities in the rapidly evolving digital landscape in Vietnam.

The name change will not affect MBV’s banking operations or customers’ rights and transactions, ensuring seamless service continuity.

In its new phase, MBV aims to become a modern, safe, and sustainable bank, contributing to Vietnam’s economic and social development while reinforcing its vital role within MB Group’s comprehensive financial ecosystem.
This transformation marks a bold step forward, opening a new chapter full of opportunities for MBV to affirm its value and pioneering role in modern banking in Vietnam.