Eximbank wants to move its headquarters from its current address (8th floor, Vincom Center Building, 72 Le Thanh Ton, Ben Nghe Ward, District 1, Ho Chi Minh City) to Hoan Kiem District, Hanoi. This area is considered the "financial center" of the country with the presence of the headquarters of the State Bank and many commercial banks such as: Vietcombank, BIDV, SeABank, Techcombank...
Of course, this important and landmark decision needs to receive the consensus of 51% of the voting rights, as Eximbank has affirmed. At the same time, it also needs the approval of the management agency, the State Bank.
From a banking business perspective, Eximbank has a 35-year history of operation, with a stable and long-standing customer base in the South, helping the bank develop and accumulate profits.
The fact that the bank has not yet made a big enough impact in the Northern market stems from many reasons. The main reason is that it has encountered credit room when the bank only mainly serves customers in the Southern provinces.
Recently, the State Bank has changed its management perspective on this issue. Right from the beginning of the year, the State Bank assigned the entire credit growth target to credit institutions at about 15% in Directive No. 01/CT-NHNN dated January 15.
According to the report, Eximbank's credit growth in the first 9 months of 2024 was at 13.55%, ranking 12th out of 30 commercial banks that have announced their third quarter financial reports.
On August 28, the management agency continued to issue a notice that credit institutions with a credit growth rate in 2024 reaching 80% of the target announced by the State Bank at the beginning of the year will be able to proactively adjust to increase outstanding debt without having to request the management agency...
In fact, moving the headquarters is just a legal procedure, because behind it is a strategy to "capture" a market with much potential.
According to Eximbank's 2023 annual report, as of December 31, 2023, the bank has 215 transaction points with 48 branches in 26 provinces and cities nationwide. Of these, only 11 branches are in the North, including 6 branches in Hanoi and 5 branches in the provinces: Quang Ninh, Hai Phong, Nghe An, Bac Giang, and Bac Ninh.
This shows the imbalance in distribution between regions, while the northern provinces, especially Hanoi and neighboring provinces, are strongly attracting FDI enterprises, thereby creating huge space for Eximbank to approach large customers, which is the bank's strength in providing banking services for the import-export sector.
In the general development trend, banks have been investing heavily in technology, building many products and services based on new thinking about customers and the market.
Investing in technology is an inevitable trend in the context of the banking industry increasingly transforming digitally.
Technology allows banks to reach a large customer base without having to build expensive physical facilities as before.
Therefore, the expansion to the North of Eximbank at this time is considered ripe to create a breakthrough turning point. The transformation will also demonstrate strategic vision, understanding of the market as well as understanding the shifting trend of FDI capital flows. Thereby, creating harmony with Eximbank in ideals and development orientation, building breakthrough strategies and plans for the bank, aiming for the goal of healthy, safe and effective development.
If the proposal to relocate the headquarters is approved, this will be an important turning point for Eximbank after 35 years of operation, demonstrating the bank's determination and strong actions in its journey of transformation towards new strategic goals. At the same time, it shows that the bank's Board of Directors is determined to overcome difficulties and transform positively in the context of many fluctuations in the world and domestic economy.
Source: https://vietnamnet.vn/de-xuat-chuyen-hoi-so-gay-tranh-cai-cua-eximbank-2345335.html
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