On November 4, in Hanoi, the Military Commercial Joint Stock Bank (MB) solemnly held the 30th anniversary celebration (November 4, 1994 - November 4, 2024) and received the First Class Fatherland Protection Medal awarded by the Party and State.
MB received the First Class Fatherland Protection Medal
Attending the ceremony were General Phan Van Giang - Politburo member, Deputy Secretary of the Central Military Commission, Minister of National Defense, Comrade Ho Duc Phoc - Member of the Party Central Committee, Deputy Prime Minister, Comrade Nguyen Thi Hong - Member of the Party Central Committee, Secretary of the Party Committee, Secretary of the Party Committee, Governor of the State Bank of Vietnam. Leaders of Central Committees, Ministries, and Branches; leaders of provinces, cities, diplomatic agencies, international organizations in Vietnam, domestic and international economic groups also attended.
Honored to receive the First Class Fatherland Protection Medal
In his opening speech, Mr. Luu Trung Thai - Chairman of MB's Board of Directors said that MB operates as a financial group model including 3 banks (MB, MBCambodia, OceanBank) and 6 member companies (MIC, MB Ageas, MBS, Mcredit, MBCapital, MBAMC) operating in the fields of life insurance, non-life insurance, securities, consumer finance, fund management, debt management and asset exploitation.
Mr. Luu Trung Thai - Chairman of MB Board of Directors delivered the opening speech
“MB’s business activities always prioritize safe development, firmly and effectively consolidate based on technology and management, operation and sustainable development; at the same time, it is an organization with social responsibility and high responsibility to the community,” affirmed the Chairman of MB’s Board of Directors.
Congratulating and recognizing the important achievements that MB staff have achieved over the past 30 years, General Phan Van Giang - Politburo member, Deputy Secretary of the Central Military Commission, Minister of National Defense shared: “From a bank with modest capital and personnel, with innovative thinking, creativity, great ambition and aspiration, MB has made strong progress: reaching 30 million customers, total assets exceeding 1 million billion VND and being in the top 3 banks contributing the largest to the state budget in 2023. Facing many challenges, MB still maintains an average growth rate of over 20%; controls and manages bad debts well; organizes safe, effective, legal activities, in accordance with the direction of the Central Military Commission and the Ministry of National Defense; sticks together and accompanies businesses throughout the army, participates in socio-economic development associated with performing national defense and security tasks; actively participate in the monetary policy of the State Bank, contribute to maintaining macroeconomic stability, gradually become a bank with a high brand and reputation domestically and internationally."
General Phan Van Giang - Member of the Politburo, Deputy Secretary of the Central Military Commission, Minister of National Defense spoke at the ceremony.
Also at the ceremony, Member of the Party Central Committee, Deputy Prime Minister Ho Duc Phoc, on behalf of the Party and State leaders, acknowledged and warmly commended the efforts and outstanding achievements that generations of MB leaders and staff have achieved over the past 30 years, and pointed out the tasks that MB needs to focus on in the coming period.
Member of the Party Central Committee, Deputy Prime Minister Ho Duc Phoc spoke at the event.
“MB needs to continue to take the lead in digital transformation as well as contribute to the development of the green economy and digital economy according to the Government's orientation, focusing in the immediate future on green infrastructure, green technology, and renewable energy. In the recent past, MB has invested about 65,000 billion VND in green activities; I hope that in the next phase, MB will participate more in green investment,” the Deputy Prime Minister emphasized.
In addition, Deputy Prime Minister Ho Duc Phoc also affirmed that the Government always creates conditions for the banking system to develop strongly. With the modest economic scale, in the coming time, the whole economy needs to break through and reach a scale 3-4 times larger than the current one, in which the contribution of commercial banks, especially MB, is very important - this is a continuous task that MB must focus on and strive for.
Highly appreciating the achievements that MB has achieved, Ms. Nguyen Thi Hong - Member of the Party Central Committee, Secretary of the Party Committee, Secretary of the Party Committee, Governor of the State Bank of Vietnam (SBV) shared: “Over the past 30 years, MB has always been at the forefront in implementing the policies and guidelines of the Party, the State, and the Industry, contributing to ensuring a stable, safe, effective, and healthy monetary and banking business environment. Up to now, MB has become a large-scale bank, of great importance in the system of credit institutions in Vietnam; MB's financial, management, and operational capacity has been increasingly improved; business performance and service quality for people and businesses have been constantly improved; digital transformation has achieved many outstanding results; MB's brand, image, and reputation have been increasingly affirmed both domestically and internationally. This is a solid foundation for MB to have the conditions to make a stronger breakthrough in the coming period."
Ms. Nguyen Thi Hong - Member of the Party Central Committee, Secretary of the Party Committee, Secretary of the Party Committee, Governor of the State Bank of Vietnam spoke.
The Governor of the State Bank also emphasized that in the coming time, MB needs to strive to soon become a bank with regional development, in the top 100 largest banks (in terms of total assets) in the Asia region, contributing to the completion of the goals assigned by the Party and the State to the banking industry by 2025; at the same time, focus resources to successfully implement the plan to receive the compulsory transfer of OceanBank.
Speaking at the ceremony, Mr. Pham Nhu Anh - Member of the Board of Directors, General Director of MB expressed his gratitude for the affection, companionship and valuable support from the Party, State, Ministry of National Defense, State Bank, ministries, departments, branches, partners and customers for MB in the past time; at the same time, affirmed that MB will receive instructions and strive to excellently complete assigned tasks, soon conquer the strategic vision of becoming a "Digital Enterprise, Leading Financial Group" with the mission of bringing added values to the country, shareholders and customers.
MB General Director Pham Nhu Anh speaks
Also at the ceremony, MB was honored to receive the First Class Fatherland Protection Medal awarded by the Party and State for its excellent performance in military trade payment and business tasks, contributing to the cause of building socialism and defending the Fatherland. This is a worthy recognition for the commendable achievements that generations of leaders, officers, employees and workers of MB have achieved over the past three decades, and is also a valuable source of motivation for 18,000 officers and employees of MB to continue to innovate, create and achieve more achievements in the future.
30 years of magical journey
Established on November 4, 1994, from a bank with 20 billion VND in charter capital and 25 initial employees, to date, MB has grown to become a bank with pre-tax profit in the TOP 3 of the industry, reaching 1 billion USD.
Starting from the initial goal of serving organizations and individuals in the military, MB has widely served the social community. From a bank with a small charter capital, MB left many marks as the only joint stock bank that made a profit during the economic crisis of 1997-1998, the only joint stock bank that guaranteed dividends to shareholders during the periods, becoming a special phenomenon in the Vietnamese commercial banking system.
Up to now, MB has not only grown strongly in the Big 4 group but also created a large gap with other joint stock banks. In 2023, the enterprise capitalization value reached 97,242 billion VND, an average growth of 35%/year. The group's revenue reached 47,306 billion VND, an average growth of 20%/year. At the end of the third quarter of 2024, MB's total consolidated assets reached 1,028,819 billion VND, officially putting MB in the group of enterprises with total assets of over 1 million billion VND.
After 30 years of growth and development, with flexibility in business strategy and commitment to innovation and sustainable development, MB has affirmed its position as a modern, diversified and prestigious commercial bank in the Vietnamese financial market. MB's strategic stages always have inheritance and development with great goals and aspirations.
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 on the occasion of MB's 30th anniversary (November 4, 1994 - November 4, 2024). Comprehensive digital transformation meets 6.5 billion financial transactions on digital channels, with a digital conversion rate of 99.5%.
In particular, MB has built three digital platforms to serve customers, including MBBank App (for individual customers), BIZ MBBank (for corporate customers) and Banking-as-a-Service (BAAS) - providing MB products and services on partner platforms. In which, MBBank App maintains its position as the top 1 financial application on the App Store and is among the most downloaded applications for the past 3 consecutive years.
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 7,500 billion VND, 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 6,200 billion VND.
In addition, MB invests heavily in ESG activities. According to Mr. Luu Trung Thai - Chairman of MB's Board of Directors, the bank has invested VND 65,000 billion in ESG in recent years and will continue to increase investment in this field in the coming period. This not only shows MB's responsibility to the country but also reflects the sustainable growth in MB's business activities.
Move Big – Move Forward Steadily
MB is implementing the 2022-2026 strategy with the vision of becoming a "Digital Enterprise, Leading Financial Group" with the motto MB1688. In which, MB1688 is understood as MB aiming for 1 vision, 6 core cultural values "Unity - Discipline - Dedication - Execution - Trust - Efficiency", 8 strategic orientations - (1) Being an organization that creates value for customers, (2) Being an organization with outstanding technological capabilities, (3) Being an organization that makes decisions based on customers and data, (4) Being an organization that invests in business and platforms, (5) Being an organization that dares to experiment with control, (6) Being an organization with a scientific working method, (7) Being an organization that learns and is happy, (8) Being an organization that develops sustainably and 8 key working methods.
In the coming years, MB's Board of Directors said that the bank will continue to adhere to the strategic goals for the 2022 - 2026 period, focusing on building a digital corporate culture, thoroughly applying and creating new working methods, while positioning MB in the top 3 in terms of efficiency and safety indicators, and striving for scale and pre-tax profit indicators to be higher than the industry average.
By 2026, MB aims to serve all customers using digital platforms; 50-70% of revenue is generated from platforms. In addition, the bank prioritizes sustainable development, strengthening the quality of all aspects of operations, investing resources and platforms for long-term development strategies.
Vietnam.vn
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