MB partners with a global player, moves into the digital asset business

On August 5, Military Commercial Joint Stock Bank (MB, HOSE: MBB) held its Investor Conference to update business results for the first half of the year and its strategic direction for the final six months of 2025. Notably, MB leadership revealed a new piece in its ecosystem.

Specifically, Mr. Vu Thanh Trung – Vice Chairman of MB’s Board of Directors – stated that the bank is expanding its ecosystem into the digital asset business by partnering with a top‑3 global player in this sector.

“This is a major policy of the Government, aiming to bring additional resources into economic growth drivers, including digital assets,” Mr. Trung emphasized.

Mr. Vu Thanh Trung – Vice Chairman of MB’s Board of Directors.

According to him, MB is a bank with strong technological capabilities, with more than 2,000 engineers and heavy investment in platforms. Expanding into the digital asset segment is inevitable to ensure MB’s 33 million customers enjoy a full range of offerings within the ecosystem — from banking services to mutual funds, stocks, bonds, and eventually digital assets.

Therefore, MB has chosen a reputable global partner with proven experience, technological competence, and a strong focus on customer security.

At the same conference, Mr. Vu Thanh Trung reaffirmed that in 2025, digital transformation remains the key growth driver for MB. Core digital platforms such as the MBBank App, BIZ MBBank, and the Banking‑as‑a‑Service (BAAS) segment have contributed significantly to customer growth, CASA, and revenue.

By the end of June 2025, MB’s customer base reached nearly 33 million, growing thirteenfold in the past five years. MB maintained its number‑one position in digital transaction volume. Total digital channel revenue reached VND 8.6 trillion, up 50% compared to the 2024 average, accounting for 38% of total bank revenue. The share of digital revenue continues to rise annually and is expected to hit 40% by year‑end 2025.

In addition, MB is deploying BAAS and API models at a very fast pace. For BAAS, MB connected with 783 partners in 2024 and added 228 new clients in the first half of 2025. So far, 1,210 APIs have been developed internally, with a full‑year target of 1,600 APIs in 2025. Meanwhile, MB is rolling out 91 mini apps with VND 8 quadrillion in transaction value in just the first half of 2025.

“MB is leading the market in this business model,” the leadership asserted.

Digital transformation remains MB’s growth engine

When asked by investors about competition and the fact that many banks are catching up with MB in digital transformation, Chairman Luu Trung Thai said that MB is the pioneer with the best speed in the market, currently enjoying the advantage of having the largest customer base and transaction volume. MB has already moved into the next stage — customer care and value enhancement per customer.

Digital transformation remains MB’s growth engine.

“Of course, other banks will catch up, but by then MB will already be on a new digital transformation journey,” Mr. Thai added.

Sharing MB’s strategic orientation for the second half of 2025, Mr. Dam Nhan Duc – MB’s Chief Economist – emphasized that the bank will continue focusing on growth, customer expansion, and increasing active user ratios.

MB will also boost lending to retail clients and SMEs, with a focus on sectors like manufacturing and processing. According to Mr. Duc, while Vietnam’s economic growth in the past mainly relied on exports and investments, over the next 3–5 years, consumption, the rising middle class, and import–export activity will become key drivers. Infrastructure investment will also provide strong momentum going forward.

In addition, MB will align deposit growth with credit demand, focus on CASA, and optimize capital maturity structures to maintain the cost of funds (COF) at around 3.1–3.2%.

The bank also aims to strengthen group synergies, cross‑selling, and efficiency across subsidiaries, targeting around 10% productivity growth for the MB Group in 2025.

Closing the conference, MB Chairman Luu Trung Thai expressed optimism, stating that with current economic conditions, competitiveness, and strategic direction, MB is likely to meet and even exceed its 2025 targets.

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