Celebrating the 30th anniversary of the establishment of Military Commercial Joint Stock Bank.

On November 4th, in Hanoi , Military Commercial Joint Stock Bank (MB) solemnly held a ceremony to celebrate its 30th anniversary (November 4th, 1994 - November 4th, 2024) and to receive the First Class Order of National Defense awarded by the Party and the State.

MB receives the First Class Order of National Defense.

Attending the ceremony were General Phan Van Giang – Member of the Political Bureau, Deputy Secretary of the Central Military Commission, Minister of National Defense ; Comrade Ho Duc Phoc – Member of the Central Committee of the Party, Deputy Prime Minister; Comrade Nguyen Thi Hong – Member of the Central Committee of the Party, Secretary of the Party Committee, Secretary of the Party Committee, Governor of the State Bank of Vietnam; leaders of central ministries and agencies; leaders of provinces and cities; diplomatic agencies and international organizations in Vietnam; and domestic and international economic corporations.

We are honored to receive the First Class Order of National Defense.

In his opening remarks, Mr. Luu Trung Thai – Chairman of the Board of Directors of MB – stated that MB operates as a financial group comprising 3 banks (MB, MBCambodia, OceanBank) and 6 member companies (MIC, MB Ageas, MBS, Mcredit, MBCapital, MBAMC) operating in the fields of life insurance, non-life insurance, securities, consumer finance, fund management, debt management, and asset exploitation.

Mr. Luu Trung Thai – Chairman of the Board of Directors of MB, delivered the opening speech.

"MB's business operations always prioritize safe development, building a solid and efficient foundation based on technology and management expertise, and sustainable development; while also being a socially responsible organization with a high sense of responsibility to the community," the Chairman of the Board of Directors of MB affirmed.

Congratulating and acknowledging the significant achievements of MB's staff over the past 30 years, General Phan Van Giang – Member of the Politburo , Deputy Secretary of the Central Military Commission, Minister of National Defense – shared: “From a bank with modest capital and personnel, with innovative thinking, creativity, ambition, and great aspirations, MB has made strong progress: reaching 30 million customers, total assets exceeding 1 trillion VND, and ranking among the top 3 banks contributing the most to the state budget in 2023. Facing many challenges, MB has maintained an average growth rate of over 20%; effectively controlled and managed bad debts; organized safe, efficient, and lawful operations, in line with the direction of the Central Military Commission and the Ministry of National Defense; closely collaborated with businesses throughout the military, participating in socio-economic development associated with the implementation of national defense and security tasks; actively participated in the monetary policy of the State Bank of Vietnam, contributing to maintaining "Maintaining macroeconomic stability and gradually striving to become a highly reputable and well-known bank both domestically and internationally."

General Phan Van Giang – Member of the Political Bureau, Deputy Secretary of the Central Military Commission, Minister of National Defense – delivered a speech at the ceremony.

Also at the ceremony, Central Committee member and Deputy Prime Minister Ho Duc Phoc, on behalf of the Party and State leadership, acknowledged and warmly praised the efforts and outstanding achievements that generations of MB leaders and staff have made over the past 30 years, while also outlining the tasks that MB needs to focus on in the coming period.

Member of the Central Committee of the Communist Party of Vietnam, Deputy Prime Minister Ho Duc Phoc delivered a speech at the event.

“MB needs to continue leading in digital transformation and contributing to the development of a green economy and digital economy in line with the Government's direction, focusing initially on green infrastructure, green technologies, and renewable energy. In the past period, MB has invested approximately 65,000 billion VND in green activities; I hope that in the next phase, MB will participate even more in green investments,” the Deputy Prime Minister emphasized.

Furthermore, Deputy Prime Minister Ho Duc Phoc affirmed that the Government always creates favorable conditions for the strong development of the banking system. With a relatively modest economic scale, the entire economy needs to make breakthroughs and reach a size 3-4 times larger than it is now in the coming period. The contribution of commercial banks, especially MB, is crucial in this process – this is a continuous task that MB must focus on and strive for.

Highly appreciating MB's achievements, Ms. Nguyen Thi Hong – Member of the Central Committee of the Communist Party of Vietnam, Secretary of the Party Committee, and Governor of the State Bank of Vietnam (SBV) – shared: “For the past 30 years, MB has always been at the forefront in implementing the policies and guidelines of the Party, the State, and the banking sector, contributing to ensuring a stable, safe, efficient, and healthy monetary and banking business environment. To date, MB has become a large-scale bank with significant importance in the Vietnamese credit institution system; its financial capacity, management, and operational capabilities have continuously improved; its business performance and service quality for people and businesses have been constantly enhanced; its digital transformation has achieved outstanding results; and its brand, image, and reputation are increasingly affirmed both domestically and internationally. This is a solid foundation for MB to achieve even stronger breakthroughs in the coming period.”

Ms. Nguyen Thi Hong – Member of the Central Committee of the Party, Secretary of the Party Committee, Secretary of the Party Committee, and Governor of the State Bank of Vietnam – delivered a speech.

Ms. Nguyen Thi Hong – Member of the Central Committee of the Party, Secretary of the Party Committee, Secretary of the Party Committee, Governor of the State Bank of Vietnam, delivered a speech.

The Governor of the State Bank of Vietnam also emphasized that, in the coming period, MB needs to strive to soon become a bank that develops on par with the region, ranking among the top 100 largest banks (in terms of total assets) in the Asian region, contributing to achieving the goals assigned by the Party and the State to the banking sector by 2025; at the same time, focusing resources to successfully implement the mandatory transfer of OceanBank.

Speaking at the ceremony, Mr. Pham Nhu Anh – Member of the Board of Directors and General Director of MB – expressed his gratitude for the valuable support and companionship from the Party, the State, the Ministry of National Defense, the State Bank of Vietnam, ministries, departments, partners, and customers over the past time. He also affirmed that MB will absorb the directives and strive to excellently complete the assigned tasks, soon conquering its strategic vision of becoming a "Leading Digital Enterprise and Financial Group" with the mission of bringing added value to the country, shareholders, and customers.

MB General Director Pham Nhu Anh delivered a speech.

Also at the ceremony, MB was honored to receive the First-Class Order of National Defense awarded by the Party and State for its outstanding performance in military commercial payment and business tasks, contributing to the cause of building socialism and defending the Fatherland. This is a well-deserved recognition of the commendable achievements that generations of MB leaders, officers, employees, and workers have achieved over the past three decades, and also serves as a valuable motivation for MB's 18,000 officers and employees to continue innovating, creating, and achieving even more success in the future.

A miraculous 30-year journey

Established on November 4, 1994, starting with a charter capital of 20 billion VND and 25 initial employees, MB has now risen to become one of the top 3 banks in the industry in terms of pre-tax profit, reaching 1 billion USD.

Originating from its initial goal of serving organizations and individuals within the military, MB has expanded its services to the wider community. From a bank with meager charter capital, MB has left a significant mark, being the only joint-stock bank to be profitable during the 1997-1998 economic crisis, and the only joint-stock bank to guarantee dividends for shareholders throughout its history, becoming a unique phenomenon in the Vietnamese commercial banking system.

To date, MB has not only risen strongly within the Big 4 group but has also created a considerable gap with other joint-stock banks. In 2023, the enterprise market capitalization reached VND 97,242 billion, with an average growth rate of 35% per year. Group revenue reached VND 47,306 billion, with an average growth rate of 20% per year. By the end of Q3 2024, MB's consolidated total assets reached VND 1,028,819 billion, officially placing MB among the group of enterprises with total assets exceeding VND 1 trillion.

After 30 years of growth and development, with its flexible business strategy and commitment to innovation and sustainable development, MB has affirmed its position as a modern, diversified, and reputable commercial bank in the Vietnamese financial market. MB's strategic phases have always been characterized by continuity and development, driven by grand goals and aspirations.

With a state-of-the-art IT infrastructure and a strategy to attract customers across a diverse digital ecosystem, MB has maintained sustainable customer growth year after year. MB served 30 million customers on the occasion of its 30th anniversary (November 4, 1994 – November 4, 2024). Comprehensive digital transformation facilitated 6.5 billion financial transactions through digital channels, achieving a digital transformation rate of 99.5%.

In particular, MB has built three digital platforms to serve customers, including the MBBank App (for individual customers), BIZ MBBank (for corporate customers), and Banking-as-a-Service (BAAS) – providing MB products and services on partner platforms. Among these, the MBBank App maintains its position as the top financial app on the App Store and has been among the most downloaded apps for the past three consecutive years.

As a bank that prioritizes its responsibility to the country and society, MB continuously strives to contribute to the national budget. With budget contributions exceeding VND 7,500 billion, a 65% increase compared to 2022, MB ranked among the top 3 banks with the highest budget contributions in 2023. In the first nine months of 2024 alone, the entire MB group's contribution to the state budget reached nearly VND 6,200 billion.

Furthermore, MB invests heavily in ESG activities. According to Mr. Luu Trung Thai, Chairman of the Board of Directors of MB, the bank has invested 65,000 billion VND in ESG over the past years and will continue to boost investment in this area in the coming period. This not only demonstrates MB's responsibility to the nation but also reflects the sustainable growth of MB's business operations.

Move Big – Take steady steps forward

MB is implementing its 2022-2026 strategy with the vision of becoming a "Leading Digital Enterprise and Financial Group" with the motto MB1688. In this, MB1688 is understood as MB aiming for one vision, six core cultural values "Unity – Discipline – Dedication – Execution – Trust – Efficiency", and eight strategic directions – (1) Being an organization that creates value for customers, (2) Being an organization with superior technological capabilities, (3) Being an organization that makes decisions based on customers and data, (4) Being an organization that invests in business and platforms, (5) Being an organization that dares to experiment with controlled methods, (6) Being an organization with scientific working methods, (7) Being an organization that learns and is happy, (8) Being an organization that develops sustainably, and eight key working methods.

In the coming years, MB's leadership stated that the bank will continue to adhere to its strategic goals for the 2022-2026 period, focusing on building a digital corporate culture, thoroughly and creatively applying new working methods, while positioning MB among the top 3 in terms of efficiency and safety indicators, and striving for higher-than-average scale and pre-tax profit targets in the industry.

By 2026, MB aims to serve all its customers using digital platforms, with 50-70% of its revenue generated from these platforms. Furthermore, the bank prioritizes sustainable development, strengthening the quality of its operations, and investing resources and platforms for its long-term development strategy.

Vietnam.vn