ABBANK and Maybank strengthen strategic cooperation

DNVN - Recently in Hanoi , An Binh Commercial Joint Stock Bank (ABBANK) and its strategic shareholder Malayan Banking Berhad (Maybank) signed a memorandum of understanding to strengthen strategic cooperation that benefits both parties, focusing on supporting ABBANK's transformation and capacity-building initiatives.

The memorandum of understanding outlines the principles for the parties to cooperate in developing and implementing consulting projects to improve ABBANK's operational efficiency, especially during the transition period, including but not limited to the following areas: SME banking; retail banking; digitalization; and other areas relevant to the business operations of both parties.

Throughout 16 years of partnership, Maybank has been closely associated with ABBANK as a strategic shareholder through various activities promoting cooperation and mutual development. This event officially marks a new milestone in the relationship between the two parties, especially in the context of ABBANK's ongoing comprehensive transformation, aiming to open up new development opportunities for both ABBANK and Maybank in the future.

Representatives from both sides at the signing ceremony.

Previously, ABBANK and Maybank regularly collaborated on capital sources and trade finance transactions, international payments, and organized seminars to share information and experiences in developing retail banking, digital banking, and small and medium-sized enterprise (SME) segments. These are areas where Maybank has experience and strengths in the market, aligning with ABBANK's strategic direction for retail banking development. Over the years, the cooperative relationship between the two parties has also extended to many other areas such as credit, risk management, and strategic planning.

Expressing his expectations for strengthening strategic cooperation between the two sides to achieve transformation goals, ABBANK's board representative, Mr. Vu Van Tien, shared: “The Board of Directors gives the highest priority to ABBANK's transformation program. Investing in the development of technology applications is important and necessary, but the decisive factor remains people, from senior leadership to every employee, who need to have an innovative mindset and master technology. Therefore, human development is our top priority. We hope that Maybank, with its successful lessons and practical experience, will accompany and send experts to support ABBANK in enhancing the capacity of its team, meeting the requirements of transformation and achieving success.”

Mr. Dato' Khairussaleh Ram, Chairman and CEO of Maybank Group, also expressed: “Maybank wishes to support ABBank in relevant areas of expertise to help ABBank realize its transformation strategies and goals. Retail, SME, and Digitalization are areas where Maybank has made good progress, especially within the framework of the M25+ transformation program that we are implementing.”

Van Anh

Source: https://doanhnghiepvn.vn/kinh-te/abbank-va-maybank-that-chat-hop-tac-chien-luoc/20240911085249029