MB is in the top 3 banks with the highest state budget contributions.

Ranked in the Top 3 banks with the highest budget contributions in 2023 with a figure of more than VND 7,500 billion, Military Commercial Joint Stock Bank (MB) continues to affirm its role as a large bank that constantly strives to contribute to the national budget. This figure also reflects the sustainable growth in MB's business operations.

Top 3 banks with the largest contribution to the State 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 half of 2024 alone, MB's budget contribution reached nearly 5,900 billion VND. This data is recorded in the PRIVATE 100 list - Enterprises with the largest budget contributions in Vietnam announced by CafeF, based on authentic data, reflecting the entire actual budget contribution of enterprises, including taxes, fees, and payable amounts.

Contribution to the State budget is an important indicator reflecting the responsibility and influence of enterprises on the development of the country. Over the years, MB has maintained its role as a large bank by constantly striving to contribute to the national budget with the mission: "For the development of the country, for the benefit of customers".

MB 's large contribution to the state budget also reflects a year of effective business operations for this bank in 2023. This also shows that MB continues to maintain a stable and certain growth rate over the past year. The group's pre-tax profit in the first 6 months of 2024 reached 13.4 trillion VND, this profit was recorded as a significant supplement from the profits of member companies thanks to sustainable growth and maintaining market share. Notably, in terms of asset quality, MB has overcome the most difficult period, and bad debts have been well provisioned.

Thanks to positive business results in 2023, MB has become one of the three banks with large contributions to the State budget. MB's budget contributions contribute to increasing national financial resources. This is also an important resource contributing to building infrastructure, developing education and improving people's quality of life.

MB invests heavily in digital transformation, creating a customer ecosystem across platforms, bringing good customer experiences.

MB's growth momentum in 2024 - 30 years of continuous development

2024 continues to mark a year with many strong growth drivers for MB. This also marks the 30th anniversary of the establishment and development of MB Bank. From a bank with an initial charter capital of 20 billion VND, to date, MB has become one of the leading banks in Vietnam with a steady annual growth rate.

Based on the foundation built over the past 3 decades, MB has high expectations for business performance in 2024. Accordingly, MB sets a credit growth target of 15-16%, and the group's pre-tax profit strives to grow by 6-8%.

The foundation of this big goal is built on three major growth drivers: digital transformation, lightning-fast retail strategy, and comprehensive ecosystem.

The first is digital transformation. This is one of the keys that has been helping MB create good momentum, despite having to go through a "trough" affected by the general economic situation in the period of 2020-2022. Identifying digitalization as an irreversible trend, in recent years, MB has invested heavily in digital transformation, creating a customer ecosystem across all platforms, bringing good experiences to customers. Thanks to digital solutions, MB optimizes costs, promoting very high growth in the number of transactions. Currently, MB is the bank with the largest digital transformation scale in the market.

The next driving force is retail. Currently, MB has more than 26 million customers, expected to reach 30 million by 2024. This is also a meaningful number for MB when welcoming its 30th birthday. MB's customer base is forecast to continue to increase. Retail will help MB's CASA continue to grow in the coming time. According to experts, when credit institutions enter a new economic cycle, that is, the lending interest rate level decreases, the advantage of CASA and capital costs will help MB have good conditions to provide customers with loans at reasonable costs while still ensuring high profits in the future. This is the driving force to create a good growth margin for MB.

Third, MB has now built a complete and large ecosystem in the banking industry, from financial services, securities, banking and insurance for individual and corporate customers on the two platforms App MBBank and Biz MBBank. This advantage helps MB have the most complete and largest internal resources in the banking and finance industry.

In the coming time, MB still identifies strong digital transformation and "sustainable development" as core strategies. This is the reason why MB has built a strategy to integrate business strategy, with a vision and mission towards 17 sustainable development goals of the United Nations and the country, orienting activities to integrate international standards on environment - society - governance in all operations and services of the bank. With this sustainable development strategy combined with a solid foundation built over many years, MB expects to continue to create great business results, strong growth, and continue to maintain its position as a top bank contributing to the State budget. That is also the mission that MB sets out: "For the development of the country, for the benefit of customers".

PRIVATE 100 – Top Private Enterprises Contributing the Largest Budget in Vietnam is a list collected by CafeF from public sources or verifiable data, reflecting the total actual budget contributions of enterprises, including taxes, fees, and payable amounts. Enterprises with budget contributions in the most recent fiscal year of 100 billion VND or more can be included in the list. Some typical enterprises in the 2024 list, showing the actual contributions of the 2023 fiscal year, include ACB; DOJI; HDBank; LPBank; Masan Group; MoMo; OCB; PNJ; SHB; SSI; Techcombank; TPBank; Hoa Phat Group; Tan A Dai Thanh; Tasco, Vingroup, VNG; VPBank; VIB, Vietbank, VPS... (arranged in alphabetical order)

PV Editor ND According to Monetary Security