With their considerable achievements in banking industry as well as national defense and security, Military Commercial Joint Stock Bank (MB) was awarded the Emulation Flag by Prime Minister Nguyen Xuan Phuc.
This award not only shows the Government’s recognition for MB’s contribution in the banking industry in particular and the development of the country in general, but also works as the driving force for MB to realize its strategic goal to become “The most convenient bank” in 2021.
2019 marks the breakthroughs of MB in the deployment of its 2017-2021 strategic goal. Its consolidated pre-tax profit was over 10,000 billion VND, while the bad debt ratio remained below 1%. Last year, this bank contributed 2,465 million VND to the State budget, becoming one of the 13 largest corporate income tax payers in Vietnam and ranking 5th in the banking system of Vietnam.
Digital products are the priorities of MB. Different from other banks, MB invested in developing two digital platforms, which are MBBank App for retail customers and Biz MBBank App for businesses. This aimed to offer customers high utility with the best service quality. This direction has proved its effectiveness when MB stayed active and strong in 2020, a difficult year for the world because of the Covid-19 pandemic. By the end of the third quarter of 2020, MB’s consolidated pre-tax profit reached over 8,100 billion VND.
“Digital transformation” can be said to be the most outstanding achievement of MB in recent years. Its information technology system has been advanced through the bank’s cooperation with world-leading partners, such as IBM and Temenos, working as the foundation for MB to innovate its operations in all fields.
By 2020, MB is expected to acquire about 2 million more customers. This proves customers’ trust in the bank’s outstanding services, which Mr. Luu Trung Thai – Vice Chairman of the Board cum General Director of MB stated, “can only be achieved with the help of digital transformation”.
Recently, MB has been awarded the “Best Digital Loan Product” and “Best Automobile Loan Product” in 2020 by The Asian Banker with its “Super-fast loans – Overdraft without collateral” product. This award once again demonstrates MB’s digital transformation efforts, bringing it closer to its goal to serve over 10 million customers by 2021.
Associating its business activities with community responsibility, in compliance with the policies of the Government and the State Bank of Vietnam, in 2020, MB has launched a number of policies to help people and businesses overcome the impacts of Covid-19.
In addition, MB has been selected by the Government to lead the construction of the iNhandao platform, which is part of the Digitalized Vietnamese Knowledge System Project led by the Government and the Ministry of Science and Technology. The iNhandao platform elaborates digitalized features, allowing people with difficult circumstances to receive the help they need and deserve. With this digital platform, in the future, they can even become the ones who offer the support to the community.
On its 26th anniversary last November, MB has also inaugurated its new headquarter in Cau Giay District, Hanoi. This tower is known to be one of the most modern banking headquarters with the best smart utility in Vietnam. With its efforts to create a consistent digital culture, MB has affirmed its aspirations to become a strong financial institution in the region, reaching new heights in the continent and the world.