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“Best Bank for ESG in Vietnam 2024” is a prestigious international award in the financial sector to honor organizations with effective sustainable development strategies, playing a pioneering role and having a high level of credibility in implementing the integration of environmental, social and governance factors into business operations.

This award is also a recognition of MSB's efforts in accompanying corporate customers in shifting operations towards green trends, while raising awareness of individual users about sustainable finance. In addition, internally, the bank has been building a fair and happy working environment, helping employees feel secure about their finances and health, being given opportunities to assert themselves as well as create value for the business and the community. "ESG is at the heart of MSB's commitment to responsible business, specifically its responsibility to stakeholders: customers/partners, shareholders, employees, regulators and the community," said a bank representative.

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The “Best Bank for ESG” award recognizes MSB’s efforts on the journey with customers towards sustainable finance (Photo: MSB)

MSB's journey of implementing environmental - social - governance and gradually becoming a green bank has marked the mark of "firsts". MSB is the pioneer bank to establish a Sustainable Development Committee under the Board of Directors from September 15, 2022. Also during this time, MSB issued a statement on its sustainable development mission with the goal of joining hands with the Government to fulfill its commitment to bring the country to a net emission level of "0" by 2050. Exactly 1 year after the establishment of the Sustainable Development Committee, on September 15, 2023, MSB is also the pioneer bank to publish a Sustainable Development Report independent of the Annual Report, fully recording sustainable development activities in 2022. After 2 years of issuance, the bank expects this report to become a transparent information channel to convey to interested parties the impacts of the bank's business activities on the economy, environment, and society.

In terms of specific results, in 2023, MSB achieved many outstanding milestones. Typically, the amount of emissions and the number of printed paper copies decreased by 73.66% and 42% respectively compared to 2022; nearly 700 kg of old paper/calendars were collected and sent to the recycling plant, creating 455 kg of tissue paper and toilet paper. In addition, from June 1, 2023, 100% of the bank's new loans must go through the Environmental - Social risk assessment process.

MSB also focuses more on sustainable development factors when by the end of 2023, MSB's total outstanding loans for the green credit sector will be nearly VND 6,000 billion, granted to 148 customers. Of which, capital for renewable energy and clean energy projects accounts for the majority and most of it is medium- and long-term loans.

To create abundant capital for the green economy, in November 2023, MSB signed a letter of intent (LOI) with FMO for a medium-term loan worth 100 million USD specifically for small and medium-sized enterprises (SMEs) and green projects. In 2024, MSB will focus on supporting all customer groups towards comprehensive and sustainable finance; orienting all daily activities towards environmental protection and climate change; and joining hands in community projects to create positive values ​​for society.

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With recorded revenue of 972 million USD, MSB is on the Fortune Southeast Asia 500 list (Photo: MSB)

In addition to the ESG award, MSB has entered the top 500 largest companies in Southeast Asia based on revenue ranking (Fortune Southeast Asia 500). According to Fotune's calculation formula, MSB's total audited revenue reached 972 million USD, after-tax profit reached 195 million USD, and total assets recorded at more than 11 billion USD as of December 31, 2023.

Being included in this list, MSB is in the ranking with many famous financial institutions from 7 Southeast Asian countries, typically UOB (Singapore), Maybank (Malaysia), Bangkok Bank (Thailand)... Together with 69 other Vietnamese enterprises operating in diverse fields such as finance - banking, real estate, energy, food, heavy industry, aviation, retail..., MSB is honored to join hands to contribute to the overall growth of the national and regional economy, creating a foundation for the prestigious Fortune Magazine to make the Fortune Southeast Asia 500 ranking an annual assessment activity alongside the prestigious Fortune 500, Fortune Global 500 and Fortune Europe 500 rankings.

Ngoc Minh