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MB Bank
Vietnamese bank From Wikipedia, the free encyclopedia
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Military Commercial Joint Stock Bank (Ngân hàng thương mại cổ phần Quân đội), operating as the Military Bank (MB or redundantly MB Bank), is a Vietnamese commercial joint stock bank and a subsidiary of Vietnam's Ministry of National Defence.[3][4][5]
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History
MB was established on November 4th, 1994, with initial charter capital of 500 billion VND.[6][7] In 2000, MB Bank established Thang Long Securities Company Limited (now Military Commercial Joint Stock Bank Securities Corporation - MBS) and Military Commercial Joint Stock Bank's Debt Management and Asset Exploitation Company (MBAMC).[8][9][10]
In 2003, MB implemented a comprehensive restructuring of its systems and human resources,[11] while in 2004, it became the first bank to issue shares through public auction with a total par value of 20 billion VND.[12]
In 2008, MB Bank underwent organizational restructuring and the military telecommunications group Viettel officially became a strategic shareholder.[13][14] In 2009, MB launched the 247 Customer Service Center and opened its first overseas branch in Laos in 2010.[15][16]
MB successfully listed its shares on the Ho Chi Minh City Stock Exchange (HSX) from November 1st, 2011[17][18] and opened its second overseas branch in Cambodia in the same year.[19][20]
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Incident
On January 8, 2020, some individual customers of MB Bank were able to spend beyond their account balance and card limit. A system error allowed them to make payments and withdrawals even if they did not have enough money in their accounts.[21][22][23]
Immediately after detecting the incident, MB blocked the accounts of these customers and requested them to refund the overspent amount.[24][25] The bank confirmed that the incident did not affect the operations of MB and the assets of other customers.[26] A representative of MB Bank acknowledged the occurrence of an online transaction error exceeding the limit.[27][28]
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See also
References
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