MB aims to become the leading financial group in the market...

In addition, MB is a market leader in digital transformation with over 30 million customers. We interviewed Colonel Luu Trung Thai, Chairman of the Board of Directors of MB, about MB's future business orientations.

Reporter (PV): Could you please tell us how MB has changed its strategic thinking on digital transformation to achieve its current market leading position?

Colonel Luu Trung Thai, Chairman of MB Board of Directors. Photo: PHUONG THAO

Colonel Luu Trung Thai: MB started implementing the digital transformation strategy in 2017 and has been strongly implementing it until now. MB's operating motto is to always take customers as the center, so all strategic projects on digital transformation always focus on customers, aiming to create different experiences on digital channels, competing in speed and quality. Thanks to that, the automation rate of MB's internal processes is always high (automatic approval and appraisal rate reaches over 82% for individual customers, over 70% for corporate customers). Achievements of MB when implementing the digital transformation strategy: As of December 2024, 6.2 billion transactions were conducted on digital channels, accounting for 98.6% of total transactions; about 36% of revenue comes from digital transformation activities; 26.5 million customers use the MBBank application; For 4 consecutive years, MBBank application has been in the top most downloaded applications on App Store Vietnam; top 1 in transactions via Napas (Vietnam National Payment Joint Stock Company); top 3 best workplaces in Vietnam in the banking industry.

Along with that, MB always focuses on investing in people in addition to investing in technology. Up to now, MB's human resources in deploying technology, data, and digital banking are leading the market in terms of quantity and quality. MB is also the first bank to establish a Data Block and up to now, with a team of nearly 300 data personnel, it has contributed to building effective business models and campaigns. In addition to business models, MB also deploys credit scoring models based on customer behavior, deploys anti-Fraud models (fraud in the banking sector) based on AI (artificial intelligence) to detect unusual behaviors to protect customers and enhance MB's reputation in the context of increasingly complex cyber fraud.

MB aims to have 30% of Vietnam's population using the MBBank application by 2026; 50-70% of revenue coming from digital channels; 30% of service activities, based on two main platforms: the MBBank application and BIZ MBBank.

PV: Currently, MB is assessed by financial and banking experts as having the most complete financial ecosystem. Could you share more specifically about this model, especially after MB acquired the Modern Vietnam One Member Limited Liability Bank (MBV)?

Colonel Luu Trung Thai: MB has a full range of member companies operating in many different fields. Including fund management, insurance, securities, debt management and asset exploitation, consumer finance. In addition, we also have two more banks, one overseas (MBCambodia) and one domestic bank (MBV). With such a diverse structure, MB can develop into a complete ecosystem. Therefore, we are aiming to become a leading financial group in the market.

In October 2024, we officially took over MBV from the State Bank of Vietnam . MB has provided a lot of support in terms of human resources and technology for this new bank. MBV is a small bank, so it will be more agile and flexible, and can test new products and services for young people. Thanks to its small size, MBV has the conditions to take better care of customers. I think that small banks have their own strengths, this year, MBV will definitely stop losing money and start making a profit.

PV: In the national comprehensive financial strategy, the Government is very interested in providing financial and banking services to disadvantaged groups and remote areas. In particular, credit support is given special attention to help limit “black credit”. So what has MB done to contribute to bringing banking services to these groups?

Colonel Luu Trung Thai: For the national comprehensive financial strategy, the first thing is to help all people access bank accounts and comprehensive financial services, this is a very important task for MB. MB lends through platforms that banks have not interacted with before, such as KiotViet. Currently, KiotViet provides sales management software to more than 200,000 small traders nationwide. Through them, MB will know who are good customers and who are bad customers. MB is also testing a few more lending models in rural areas to reduce lending costs for vulnerable people in society.

Military Commercial Joint Stock Bank (MB) provides financial services suitable for each customer group. Photo: PHUONG THAO

PV: Supporting social housing for people is an issue of public concern. So what contributions does MB have to this activity, comrade?

Colonel Luu Trung Thai: Currently, the Ministry of National Defense has been assigned by the Prime Minister to build a large number of social houses to eliminate temporary and dilapidated houses. MB has also prepared resources to support this program. In 2024, MB implemented the construction of social houses under the program to eliminate temporary and dilapidated houses with a total budget of more than 135 billion VND. This year, MB still plans to participate in this program to fulfill its social responsibility as well as the tasks assigned by the Ministry of National Defense.

PV: Currently, the domestic and world economies are facing many difficulties and challenges, such as: Tariff pressure, increasing geopolitical conflicts, international trade tensions... So what action plan does MB have to maintain growth and ensure the set business goals?

Colonel Luu Trung Thai: This year is a difficult year for the banking industry in general due to the above challenges, therefore, MB also has a profit growth plan of about 10%. This year is also the first year of receiving the mandatory transfer of MBV, so we will have a better credit growth limit, MB is expected to increase credit growth by 24%. Regarding the US applying a 46% reciprocal tax rate to Vietnam, MB has also had appropriate operating scenarios. However, we are still in the 90-day period of suspending the application of that tax rate. When there is official tax information, MB will make appropriate adjustments to continue to accompany and support affected businesses (if they are MB customers).

By the end of the first quarter of 2025, MB's credit growth reached 2.31%, which is a good growth rate compared to the whole industry. And we also maintain this rate to ensure that this year, the credit limit is used up by about 24%. In 2025, MB continues to maintain the structure set out last year, which is that more than 50% of MB's credit will focus on retail. And nearly 50% of the remaining credit will focus on large customers, small and medium-sized enterprises.

PV: Thank you very much, comrade!

MINH VIET (performed)

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Source: https://baodaknong.vn/mb-huong-toi-tro-thanh-tap-doan-tai-chinh-dan-dau-thi-truong-250409.html