Colonel Luu Trung Thai - Chairman of MB Board of Directors reports on the Board of Directors' performance in 2023
Top 3 profits, maintaining credit growth rate According to the report of MB leaders at the Congress, in 2023, Vietnam's economy will continue to recover, the macro economy will be stable, and major balances will be ensured. In that context, MB has closely followed the strategic orientation for the period 2022 - 2026, flexibly building and implementing new business models, contributing to the completion of the plan approved by the General Meeting of Shareholders (GMS). Total assets of the group reached nearly 945,000 billion VND, an increase of 29.7% compared to 2022. Consolidated pre-tax profit reached more than 26,306 billion VND, an increase of 15.7% compared to 2022, ranking in the Top 3 profits of the whole industry. For the bank alone, profit reached VND 24,688 billion, up 21.5% over last year, showing stable growth in MB's business operations. In 2023, MB took full advantage of the credit room approved by the State Bank, the Bank's own credit growth increased by 28.2%. Of which, outstanding loans for priority industries according to the Government's orientation accounted for 65%. MB has adjusted interest rates down 7 times in 2023 with a reduction of 2% - 4% to support customers in accessing loans, accompanying to overcome difficulties and restore production and business, contributing to promoting economic growth. Thanks to the standard investment information technology platform and customer attraction strategy on a diverse digital ecosystem, MB maintained sustainable customer growth momentum, the total number of customers MB served as of December 31, 2023 reached 26.5 million. 2023 is the third consecutive year that MB has attracted more than 6 million new customers (6.2 million in 2021; 6.9 million in 2022 and 6.3 million in 2023). The transaction scale on digital channels has exceeded 10 million billion VND, with the number of cashless transactions reaching 3.6 billion transactions, an increase of 1.5 times compared to 2022. The scale of MB's money transfer transactions via NAPAS has topped the system for 3 consecutive years (2021-2023). With good business results in 2023, MB has submitted and received approval from the MB General Meeting of Shareholders for a dividend rate of 20% for 2023, including 5% in cash. Total assets soon reached 1 million billion VND , MB is expected to reach 30 million customers in 2024.
General Director Pham Nhu Anh presented the Executive Board's Report at the Congress
In the Executive Board's Report at the Congress, Mr. Pham Nhu Anh - General Director of MB shared his perspective from the general context: In 2023, the global economy faced many difficulties due to political conflicts, fluctuating commodity prices..., although Vietnam's economy did not achieve the target set by the National Assembly, it was a bright spot compared to the region and the world. With the efforts of the Leadership Team and employees of the entire system, MB achieved growth in scale (credit, capital mobilization) in the TOP 2 industries, and the group's pre-tax profit reached the TOP 3 banking industry (up 1 rank). Actively implementing group synergies, MB has continuously strengthened its governance model, focusing on digital transformation. Some companies have not completed their annual profit plans due to market influences (MBS, MBCap, Mcredit). Currently, MB is in the TOP of the industry in terms of efficiency and quality indicators ROE ~23.9%, ROA ~2.5%, CIR ~28.2%. Analyzing the situation in 2024, MB General Director Pham Nhu Anh presented some of MB's operational orientations for the year with 5 goals:- Focus on implementing strategic initiatives for the 2022-2026 period, attracting customers, and reaching a cumulative 30 million customers.
- Promote corporate synergy, promote cross-selling to expand scale, market share, and increase corporate competitiveness.
- Optimize basic business models, research and apply new business models to create competitiveness.
- Automate operations, optimize costs, CIR < 30%
- Plan and increase the efficiency of distribution channel business. Improve service quality according to touch points.
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