BREAKTHROUGH IN PROFIT, USD 01 BILLION, AMONG THE TOP 200 MOST PROFITABLE FINANCIAL AND BANKING GROUPS IN THE WORLD

In 2019, Vietcombank continued to achieve impressive breakthroughs and new records, becoming the first Vietnamese bank to reach USD 01 billion in profit and to be listed in the Global Top 200 profitable financial and banking groups.

These achievements proves that Vietcombank is on the right track with its business transformation strategy that focuses on 3 key pillars: Retail, services and investment (treasury) to achieve the goals of high quality of growth, safety, efficiency, and sustainable development while reflecting the dedication and hard work of its 18,000 employees.

THE FIRST PRESENCE OF A VIETNAMESE COMMERCIAL BANK IN THE US; THE FIRST BANK TO BE APPROVED BY THE STATE BANK TO ESTABLISH NEW BRANCH IN AUSTRALIA FOR CONTINUOUS EXPANSION OF THE FOREIGN NETWORK

In 2019, Vietcombank’s Representative Office was officially launched in New York under the approval of the U.S. Federal Reserve System, making Vietcombank the first Vietnamese bank to fulfill strict requirements to be present in the US market, thereby confirming that Vietcombank’s operations met fully international standards to expand and present in the dynamic financial markets worldwide.

CONCLUDING THE DISTRIBUTION AGREEMENT TO ESTABLISH AN EXCLUSIVE 15-YEAR BANCASSURANCE PARTNERSHIP WITH FWD GROUP

The historic cooperation agreement with FWD Group which is specialized in digital applications in all insurance operations reflected Vietcombank’s strong efforts in digital transformation and retail operation to achieve the set goals, and building a leading bancassurance in the region.

SUCCESSFULLY ISSUING OVER 111 MILLION PRIVATE SHARES TO GIC AND MIZUHO, CONTINUING TO BE THE MOST WELL-CAPITALIZED BANK IN VIETNAM WITH USD 14 BILLION

The GIC and Mizuho’s investment of USD 265 million (equivalent to VND 6.2 trillion) raised Vietcombank’s charter capital to VND 37.1 trillion (equivalent to USD 1.6 billion), a strong capital foundation for meeting Basel II standards of capital safety while maintaining its growth momentum following the set targets. This transaction demonstrated the confidence and interest of international investors in Vietnam.

ESTABLISHING THE DIGITAL BANKING CENTER IN VIETNAM, STRIVING TO BECOME THE LEADING BANK IN DIGITAL TRANSFORMATION

Vietcombank is the first large bank to put a Digital Banking Center in to operations in Vietnam. In 2019, the “Digital Banking Transformation” project was kicked off to boost the development of digital business models in order to improve customer satisfaction through digitized experience when using data and technology.

THE FIRST BANK TO LAUNCH THE DOMESTIC CONTACTLESS CARD UNDER VCCS

Chip card technology, especially contactless chips that Vietcombank pioneered applying will open a new future for payment in many fields such as smart transportation (ticket payments for bus, BRT, subway, parking lot, toll stations, etc.) or education and medical with the issuance and payment by student cards, insurance cards, hospital cards, etc.

This step was considered to be in line with the global trend to eliminate the existing issues of credit card frauds. This event also made Vietcombank the largest bank supporting contactless payments in the market, which was in line with the national strategy of developing smart cities and cashless society.

PIONEERING DOMESTIC ENTERPRISE SUPPORT WITH 3 TIMES OF CUTTING INTEREST RATES IN 2019, OFFERING THE BEST INTEREST RATES IN THE MARKET (5%)

Under the Government’s guidelines and the SBV’s directions in improving the business environment, focusing on difficulty removal and growth promotion for businesses, in 2019, Vietcombank pioneered in supporting businesses by cutting the lending interest rates 3 times, in which, the lending interest rates was cut for 5 priority sectors twice, and it was cut by 0.5% once for businesses with outstanding loans at Vietcombank to facilitate their production and business activities.

These practical actions demonstrated Vietcombank’s strong commitment in actively implementing policies provided by the Government and the SBV, and striving for the common goal of socio-economic development.

THE BIGGEST CORPORATE INCOME TAX PAYING BANK IN VIETNAM; BANK WITH BEST WORKING ENVIRONMENT IN VIETNAM

According to information obtained from the General Department of Taxation, Vietcombank continued to be the biggest corporate income tax payer amongst banks in Vietnam for 2019 and one of two biggest corporate income tax payer amongst all enterprises. This result recognized important contributions of Vietcombank to the State budget. It also affirmed the Bank’s outstanding effectiveness in business operations.

In 2019, Vietcombank was again nominated as the bank with the best working environment in Vietnam by Anphabe – a pioneer in consulting employer branding solutions and happy working environment in Vietnam and Intage - a leading market research company in Japan.

CO-HOSTING THE “FOR A GREEN VIETNAM” PROGRAM AND BECOMING THE FIRST BANK TO BE GRANTED A CREDIT LINE OF USD 200 MILLION BY JBIC TO SUPPORT RENEWABLE ENERGY PROJECTS IN VIETNAM

To achieve the goal of becoming a Green bank with sustainable development for the community, Vietcombank co-organized the program “For a Green Vietnam”. This program was aimed to raise the awareness, responsibility and promote the determination and creativity of officers, unionists, and adolescents nationwide in planting, caring, and protecting trees for the purposes of environmental protection, climate change response and sustainable development.

In 2019, Vietcombank was the first bank to be granted the credit line of USD 200 million by JBIC to support renewable energy, green energy, and environmental protection projects in Vietnam.

“BEST BANK IN VIETNAM” - EUROMONEY

In 2019, Vietcombank was honored to be the only bank in Vietnam awarded the “Best Bank in Vietnam” by Euromoney. “Best Bank” in the “Awards for Excellence” is the world’s most prestigious award in the banking and finance sector given by Euromoney to leading banks in 100 countries worldwide.

Vietcombank was named as the “Best Bank in Vietnam” by Euromoney based on the criteria of sustainable development, business results, risk management, information technology, efficient governance, and contributions to the domestic banking and financial market.