SINGAPORE, Oct. 2, 2026 /PRNewswire/ — OceanBase and MB Bank (Military Commercial Joint Stock Bank), a leading Vietnamese banking institution recognized for its digital transformation capabilities and a brand value of more than USD 2 billion, announced the signing of a Memorandum of Understanding (MOU) for a database modernization partnership.
Under the collaboration, OceanBase will provide its industry-leading database technology to support MB Bank’s data infrastructure modernization initiatives, strengthen system resilience and business continuity, and enhance the scalability and performance of its IT infrastructure. MB Bank aims to advance its technology capabilities and build a robust, reliable, and future-ready infrastructure to support its digital banking and business transformation. Under this partnership, OceanBase will serve as the underlying database technology provider, while MB Bank retains full control over its data management and daily business operations.
According to "e-Conomy SEA 2025", a joint report by Google, Temasek, and Bain & Company, Vietnam’s digital economy grew by 17% in 2025, making it the second fastest-growing digital economy in Southeast Asia. Moreover, according to Vietnam’s National Statistics Office, 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 Vietnamese government has further set an ambitious target to raise this figure to 30% of GDP by 2030. As Vietnam’s banking sector rapidly evolves in this digital-first economy, the need for modern, highly resilient database solutions 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."
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."
About OceanBase
OceanBase is a distributed database launched in 2010. It provides strong data consistency, high availability, high performance, cost efficiency, elastic scalability, and compatibility with mainstream relational databases. It handles transactional, analytical, and AI workloads through a unified data engine, enabling mission-critical applications and real-time analytics.
To learn more, please visit: https://www.oceanbase.com/
