OCB launches OCB OMNI 4.0 version, optimally meeting consumer needs for speed and convenience
In addition to OCB OMNI, a digital banking product for young people, Liobank, introduced by OCB in early 2023, is also one of the few products that have been well received and highly appreciated by the Gen Z market for its convenient experience of technology. Customers can Shake to Pay, shake the phone to transfer money, this feature uses short-range NFC technology, combined with Contact Matching to bring a fast, interesting and new money transfer experience to young tech-savvy users. The return money transfer feature is also capturing the tastes of young people very well because customers can return money to the sender without knowing the account number, transfer money to Liobank users in the phone book, name folders to manage utility bills... In particular, customers will receive an immediate refund of up to 10% and can proactively choose the refund category for the month. As of June 2024, Liobank has processed nearly 10 million transactions with an impressive growth rate of 200% compared to 2023. “Currently, Liobank is one of the few applications on the market that can lend 100% online. In particular, this application makes it easy for people with average incomes or higher to borrow from banks and have credit cards with limits from low to high. All operations, registration procedures, completion... on Liobank are digitized and completely automated, customers do not need to go to any branch to use banking services", added a representative of OCB's leadership. In addition, the OCB Propay digital payment solution also helps save 80% of time for businesses, promoting customers to use digital solutions. Specifically, the application of modern Open API technology helps OCB ProPay to specifically connect all individual management software of the enterprise including OCB OMNI digital bank, synchronized on a single platform, thereby increasing the speed of effective information processing, ensuring high accuracy of information about personnel, partners, finance... Strong digital transformation has been helping OCB attract a large number of customers to switch from traditional channels to digital channels, improving payment efficiency, while creating a solid foundation for a sustainable development strategy. According to statistical results, in the first 6 months of 2024 compared to the same period, OCB OMNI had a 76% increase in transaction volume, a 52% increase in demand deposits (Casa), and a 53% increase in term deposits (Esaving). For the Card business segment, card transaction turnover increased by 27%, net revenue increased by 32%. Credit growth is a bright spot, ready to break out in the second half of the year . In recent times, although the economy's capital absorption capacity is still weak, banks, notably OCB, have made great efforts and implemented many solutions to increase businesses' access to capital and promote credit growth. According to the financial report, OCB's credit growth as of June 30, 2024 reached 6.3%, higher than the industry average. By gradually shifting customer structure, improving competitiveness, developing the small and medium-sized enterprise (SME) segment, offering many practical financial programs and solutions, preferential fixed interest rates, accompanying the development process, production and business. Thanks to that, credit for the SME customer group increased by nearly 18%. In addition to support on interest rates and exchange rates, OCB is also focusing on digital transformation of financial products and services to improve convenience and shorten transaction times for corporate customers.
OCB launches a series of programs for SME businesses
By the end of the second quarter of 2024, the bank's TT1 mobilization decreased slightly compared to the end of 2023 because the bank proactively balanced its capital sources more appropriately, thereby optimizing capital costs. Total net revenue increased by 2.4% over the same period last year, reaching 4,559 billion. Core business activities maintained stable growth thanks to the "sweet fruit" of the digital transformation strategy. According to the report, in the first 6 months of the year, with increased provisioning costs and operating costs, the bank's total profit reached 2,113 billion, down 17.5% over the same period in 2023. Sharing about this issue, OCB's leader said: "Businesses and people are still facing many difficulties, leading to banks across the system facing the problem of high bad debt. Therefore, to increase the buffer and ensure the bank's operations in the face of unpredictable market conditions, OCB has increased its provisioning costs. In addition, we also focus on expanding the network, developing human resources and technology systems. This may affect the bank's profits in the current period, but will be a long-term foundation for the bank's sustainable development. It is known that at the end of 2023, OCB opened 10 new branches/transaction offices. In 2024, with the approval of the State Bank of Vietnam, the bank continues to plan to open 17 new branches/transaction offices, increasing the number of transaction points to 176 in 48 provinces and cities nationwide. The number of employees of the bank in 6 months increased by 12%, employee welfare costs and income also improved, increasing by 15%. As of June 30, 2024, the total assets of the bank were approximately VND 238,884 billion at the beginning of the year. The bad debt ratio, regulations on capital adequacy ratio and liquidity are well controlled, ensuring compliance with the regulations of the State Bank. 2024 is considered an important year in OCB's development strategy for the period 2021 - 2025. Therefore, in the last months of the year, the bank will focus on promoting the development of individual customer groups in the middle and high-end segments with "tailor-made" products suitable for each specific need. Make the most of resources, operating processes, prioritize business support, speed up transaction processing. In addition, apply new and effective policies to improve credit quality, accelerate bad debt handling and digital transformation. “In the first 6 months of the year, with both objective and subjective factors from the market, along with proactively introducing many policies to accompany customers as well as increasing technology investment costs and personnel costs, OCB's second quarter results as well as the accumulated 6 months have not met expectations. However, with the goal of stable, transparent and sustainable growth, along with a clear strategy and specific action plan, I expect the bank to have better results in the last 6 months of the year,” said Mr. Pham Hong Hai, General Director of OCB. Source: https://baodautu.vn/ocb-day-manh-chuyen-doi-so-nang-cao-chat-luong-tai-san-d222440.html
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