In 2020, the Board of Directors of Vietcombank organized 71 meeting sessions (in which 13 plenary sessions of BOD) and 36 collections of written opinions for the purpose of directing Vietcombank’s operation periodically, making decisions on matters that require BOD’s approval and discussing some other specific topics.
Risk Management Committee assisted the BOD in approving appropriate policies and directions with regard to various types of risks in each period, including defining ratios, limits/restrictions and risk appetite of the Bank.
In 2020, Risk Management Committee organized 04 regular meeting sessions, coordinated with relevant divisions to build and complete Vietcombank’s regulations/ model, assessed current and future risks, advised the BOD with risk management strategies, policies and preventive measures covering numerous aspects of Vietcombank’s operation. The Committee also played an active role in promoting the deployment of ideas under Basel II Program, assisting VCB early to apply ICAAP under the Circular No. 13/TT-NHNN on internal capital.
In 2020, Risk Management Committee conducted business continuity activities on the following areas: Coping with the Covid-19 pandemic: Implementing many measures to cope with the pandemic situation such as: communication, self-assessment of safety level, development of prevention plans, enhanced measures to cope with the epidemic; Responsive actions to floods and storms in the Central region: Timely issuing documents to guide Branches regarding emergency plans to ensure business continuity, safety of lives and property.
Human Resources Committee consulted the BOD regarding scale and structure, the Manager in line with Vietcombank’s operation scale and development strategy; advised the BOD to review, assess and propose the election, appointment, dismissal, the planning of managers under the BOD’s appointment authority and remuneration mechanism system to ensure the suitability with Vietcombank’s operation and business orientation and plans in each period.
In 2020, Human Resources Committee proactively advised to evaluate, propose the planning of staff appointment and management under authorization, ensured the publicity, right person, right action, optimized the system of documents and policies in staff management, enhancing capacity and quality. During the past time, the appointment and re-appointment of management positions at Head office and business units were approved by Human Resources Committee, contributing to the improved efficiency of staff management.
Strategy Committee consulted the BOD to develop business development strategy of the Bank, including assessment of current situation, overall targets, long-term vision, strategic orientation, business criteria for each period, implementation solutions and roadmap. Right after deployment of transformation schemes by 2020, the Committee supervised the implementation of Divisions, periodically reported the implementation situation to the BOD. Every 6 months, the Strategy Committee made a report to review the Restructuring Scheme and submitted to the BOD for consideration and reported to the SBV in accordance with regulations.
Supervisory Board supervised BOD and BOM in the implementation of business orientations and objectives in 2020 of Vietcombank, which were approved by Shareholders’ General Meeting, supervising the compliance with the laws and the Bank’s Charter in management and governance. In 2020, in the context of the business environment suffering from many adverse impacts due to Covid-19 epidemic, BOD and BOM proactively and timely issued the appropriate response policies and solutions and drastically deployed the measures to successfully implement the “multi-targets”: effectively preventing Covid-19 pandemic,sharing difficulties with customers and developing sustainable business. In general, management and governance activities of BOD and BOM complied with the provisions of the Law on Credit Institutions and the Bank’s Charter.
Implementing the provisions in the Law on Credit Institutions, Supervisory Board has followed up/updated changes in the list of founders, major shareholders, and members of BOD, members of Supervisory Board, CEO and related persons of members of BOD, members of Supervisory Board, CEO.
In 2020, COVID-19 pandemic negatively affected the economy of the world and Vietnam, enterprises and the whole banking industry. In that context, with the motto of “Transformation - Safety - Efficiency – Sustainability”, Vietcombank timely adjusted its business strategies, reorganized operations and speed up the process of digital transformation, at the same time, pioneered in sharing difficulties with enterprises, especially in debt restructuring, waiver or reduction of interest. As the role of the link between the Bank and the investor community, Vietcombank’s investor relations activities in 2020 had also evolved, keeping up with the general trend in the context of the pandemic and achieved the recognition of shareholders, investment funds, securities companies as well as most of domestic and international investors.
In order to become a bank with the best risk management in Vietnam, Vietcombank always proactively enhances the risk management culture, pioneers in researching and applying modern credit risk management measures and models in conformity with international standards, orientations of regulatory authorities, as well as internal management needs.
