By the end of the first 9 months of 2024, MB's credit growth was 13.5% - 1.8 times higher than the industry average.

Military Commercial Joint Stock Bank (HOSE: MBB) has just announced its business results for the third quarter of 2024 with many positive business indicators.

Reach 30 million customers

With a standard investment in information technology platform and a strategy to attract customers on a diverse digital ecosystem, MB has maintained sustainable customer growth momentum year after year. MB serves 30 million customers right before the 30th anniversary of MB's establishment (November 4, 1994 - November 4, 2024). Comprehensive digital transformation meets 2.7 billion financial transactions on digital channels, with a digital transformation rate of 99.5%.

MB is also a bank that quickly adopts technology, pioneering the implementation of facial recognition transfer authentication on the MBBank App according to Decision No. 2345/QD-NHNN on implementing safe and secure solutions in online payments and bank card payments of the State Bank of Vietnam.

Recently, MB launched the “Biometrics with Opportunity” feature, helping customers who are having difficulty updating their biometrics to ask their relatives to scan their biometrics at home without having to go to the counter. This shows MB’s commitment to accompanying customers, bringing the most advanced technological solutions to serve the increasing needs of users.

Maintain sustainable growth rate

By the end of the third quarter of 2024, MB's total consolidated assets reached VND 1,028,819 billion, an increase of 8.9% compared to 2023, making MB one of the enterprises with total assets of over VND 1 million billion. Pre-tax profit of the whole group reached VND 20,736 billion, an increase of 3.6% over the same period in 2023; of which the bank alone reached VND 20,030 billion, an increase of 6.2% over the same period last year.

MB's efficiency and safety indicators remained stable with consolidated ROA and ROE at 2.24% and 21.37% respectively, of which, for the bank alone, ROA reached 2.30%; ROE reached 22.71%.

MB's credit in the first 9 months of 2024 alone grew by 13.5% compared to 2023 - this is a good credit growth rate compared to the market. Outstanding loans to customers of the bank alone grew well, reaching 664,452 billion VND, up 15% compared to 2023, mainly focusing on the fields of production, business, and supporting industries.

MB operates interest rates according to the policies and directions of the Government and the State Bank. Accordingly, the bank focuses on supporting customers to access loans, accompanying them to overcome difficulties and restore production and business, contributing to promoting economic growth through many loan interest rate reductions from 0.5% - 1.45% compared to 2023.

Faced with the severe damage caused by storm No. 3, MB quickly deployed a special preferential loan package of up to VND 7,000 billion, including VND 5,000 billion for businesses and VND 2,000 billion for individual customers, to create conditions for people and businesses to access good capital sources to rebuild their lives after the storm and flood.

Mark of age 30

As a bank that promotes responsibility to the country and society, MB constantly strives to contribute to the national budget. With the budget contribution reaching more than VND 7,500 billion, an increase of 65% compared to 2022, MB is in the Top 3 banks with the highest budget contribution in 2023. In the first 9 months of 2024 alone, the contribution to the state budget of the entire MB Group reached nearly VND 6,200 billion. This not only shows MB's responsibility to the country but also reflects the sustainable growth in MB's business operations.

Towards the 30-year milestone (MB30), the entire MB Group is determined to implement the set goals. The achievements and efforts of the entire MB system are demonstrated through a series of prestigious domestic and international awards recently presented to MB such as: 'Enterprise with sustainable working environment' from HR Asia Awards, 'Excellent Asian Enterprise' at Asia Pacific Enterprise Awards, Financial Large Cap with IR activities most favored by investors at IR Awards...

In addition, MB continues to synchronously deploy business solutions to realize the strategic vision for the period 2022-2026. Accordingly, MB's goal from now to 2026 will focus on accelerating digital transformation, not only to become a digital bank but also to move towards a digital enterprise - this is also MB's difference in the market.