Singapore – OceanBase will supply database technology to MB Bank under a newly signed memorandum of understanding (MOU) aimed at modernising the Vietnamese lender’s data infrastructure, the two companies announced on 2 October.
According to the companies, the partnership targets stronger system resilience and business continuity, alongside improved scalability and performance across MB Bank’s IT infrastructure. MB Bank, which the announcement describes as a leading Vietnamese bank with a brand value of more than USD 2 billion, aims to build a reliable, future-ready foundation for its digital banking and business transformation.
Under the arrangement, OceanBase will act as the underlying database technology provider. MB Bank, however, will retain full control over its data management and daily business operations.
The MOU comes as Vietnam’s digital economy continues to expand at pace. According to e-Conomy SEA 2025, a joint report by Google, Temasek and Bain & Company, the sector grew by 17% in 2025, making it the second fastest-growing digital economy in Southeast Asia.
Vietnam’s National Statistics Office, meanwhile, reports that the digital economy’s share of GDP rose steadily from 12.87% in 2021 to 14.02% in 2025, equivalent to approximately US$72.1 billion. The government has set a target of lifting that share to 30% of GDP by 2030.
Against this backdrop, the companies say the need for modern, highly resilient database solutions in Vietnam’s banking sector has become paramount.
Mr Nguyen Xuan Hoc, Deputy CEO of MB Bank, said, “At MB Bank, we continuously invest in strengthening the resilience and modernization of our technology infrastructure to support sustainable growth and deliver reliable services to our customers.”
“Through this collaboration with OceanBase, we look forward to exploring advanced data infrastructure capabilities that can further enhance business continuity, operational resilience, and readiness for our future digital needs,” he said.
For its part, OceanBase framed the agreement as a step towards wider regional engagement. Evan Yang, CEO of OceanBase, noted, “We are excited to partner with MB Bank. Vietnam is emerging as a powerhouse in Southeast Asia’s digital economy, and its banking sector is at the forefront of this transformation. Through this collaboration, we hope to leverage OceanBase’s proven distributed database technology to better support the modernization of banking systems in Vietnam and across the broader Southeast Asian market, supporting financial institutions to build future-ready data infrastructures.”
