After the Government Inspectorate (GIA) announced Conclusion 276, pointing out a number of violations in the use of bond capital at 5 banks, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and Military Commercial Joint Stock Bank (MB) have issued official statements explaining the related contents.
VPBank confirmed that 7 bond lots (issued in 2016, 2021, 2022) mentioned by TTCP have the purpose of issuance as "medium and long-term lending".
According to the bank's explanation, at the time of issuance, VPBank had no new medium and long-term disbursements. Therefore, to "optimiz" capital sources, the bank has used this source to lend for a 12-month term. When these short-term loans matured, VPBank continued to use capital to disburse according to the announced medium and long-term purposes.
VPBank affirmed: "All of the above bond lots have been fully paid in principal and interest to bondholders on time".
The bank also said that it has applied the measure of separating bond mobilization funds in the system and completed the information disclosure work in accordance with regulations.
On MB's side, this bank said that the purpose of issuing the related bond lots is to "serve the needs of credit granting and investment".
Explaining the conclusion of the JSC (only MB used the money to "lend" but not "invest", MB said that at the time of review, the bank was "focusing on prioritizing lending capital". MB affirmed that this is "in accordance with the published content and scope" (ie "serving credit granting needs").
MB informed that the above-mentioned bond lots have all been fully fulfilled by the bank. Most of these plots have been paid off, the remaining amount (about 650 billion VND) is being managed in accordance with regulations.
Both banks reaffirmed their commitment to protect the rights of bondholders, customers and shareholders.
Previously, Asia Commercial Joint Stock Bank (ACB) also issued a press release, stating that it had completed all the remedial contents as required by TTCP and had sent a report on the results from September 24, 2025.
Thus, out of the 5 banks mentioned in Conclusion 276, 3 banks have officially spoken out.
Expert's perspective: Need for a real cash flow monitoring mechanism
Discussing violations of capital use, Mr. Nguyen Quang Huy, CEO of the Faculty of Finance - Banking, Nguyen Trai University, stated that the underlying cause lies in the "market monitoring structure".
According to him, the biggest weakness is the lax post-inspection and cash flow management after issuance, while "the role of supervisory intermediary has not been fully promoted", leading to erosion of confidence.
To overcome this, Mr. Huy proposed mandatory solutions. Specifically, applying a specialized account at a supervisory bank, only disbursing when there are valid documents. Along with that, it is necessary to apply digital platforms to connect data and monitor cash flow in real time instead of just relying on manual reports. In the long term, he believes that developing an independent credit rating system will create a market-based "self-discipline" mechanism, forcing businesses to be transparent if they want to have good capital mobilization costs.