The green mark at MB

This standard aims to measure the performance of businesses and is used by socially responsible investors to screen potential investments.

MB's green mark

As a leading bank in the market in terms of operational efficiency and risk management, since 2017, Military Bank (MB) has placed much greater emphasis on community and social activities. From 2023, MB has committed to implementing its ESG strategy systematically, according to international measurement standards. This is considered a foundation for sustainable development projects at MB, and also a declaration of a new generation of "green" MB in the next phase of development.

Besides charitable activities and spreading social responsibility such as the "Building a Vietnamese Charitable Social Network" project - a charitable application spearheaded and developed by MB, each of MB's products also bears a "green" imprint.

Specifically, in each of MB's current products and services, in addition to meeting the increasingly high demands of customers, there is always a strong emphasis on applying ESG criteria. Since 2021, nearly 90% of MB's internal operations have been paperless and digitized. And to date, that number has increased to almost completely paperless, reaching approximately 100%.

For customers, MB has also digitized up to 90% of its integrated products on the MBBank App ecosystem for individual customers and the MBBank Biz App for corporate customers, along with lifetime free policies, minimizing the use of paper in service processes and maximizing technology to reduce costs, time, and effort for both customers and bank personnel.

In its credit structure, MB also places greater emphasis on sustainable development. By the end of 2022, the proportion of outstanding loans for green projects at this bank had increased 2.5 times compared to 2020. Of this, financing for renewable and clean energy projects accounted for more than 90%, and almost all of it was medium- and long-term loans, marking a shift in MB's credit orientation towards sustainability. Notably, the bank has also implemented specific regulations for the Fund to manage environmental risks.

Currently, MB is providing financing for more than 30 solar and wind power projects with a total scale of approximately VND 70,000 billion, helping investors generate about 3,600 MW of renewable energy, contributing to increasing clean energy sources to meet the sustainable growth needs of the economy . MB is contributing to reputable renewable energy projects in the South Central, Central Highlands, and Southwest regions of Vietnam.

The "green" impact of the aforementioned shift in credit flow at MB is largely due to the significant role played by Mr. Pham Nhu Anh, the bank's General Director. Previously a member of the Executive Board, Mr. Anh made numerous proposals and contributions to the State Bank of Vietnam, the Ministry of Industry and Trade, EVN, and the Ministry of Finance at seminars on mechanisms and policies for renewable energy development, aiming to resolve obstacles and facilitate the flow of capital for credit serving renewable energy projects.

The bank has strong and sustainable business performance, ranking among the top in the system.

In the second quarter of 2023, MB was one of the best-performing commercial banks in the group of joint-stock banks. Even considering the consolidated bank (including the parent bank and its subsidiaries), MB's business results were very good.

MB also boasts a large number of individual customers within the private equity banking sector, totaling 23.5 million individual customers and nearly 300,000 corporate customers. This remarkable achievement is largely due to MB's systematic strategy of complying with ESG regulations over the past years.

By applying ESG criteria, Military Bank has achieved impressive results.

MB is recognized as a top-performing bank with stable, continuous, and sustainable growth, despite market fluctuations. These results demonstrate the soundness of the bank's chosen development strategy, particularly its commitment to implementing ESG (Environmental, Sustainable, and Goods and Services) according to international standards since 2023. With its chosen path of sustainable development, the goal of becoming a "top 3 in the market for efficiency, top in Asia" and the vision of "Becoming a leading digital enterprise and financial group" for the 2022-2026 period will certainly not be difficult for MB.

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