MB must strive to become a leading financial group, a 'digital group'

Deputy Prime Minister Ho Duc Phoc asked the Military Commercial Joint Stock Bank (MB) to focus on striving to become a leading financial group and a digital group. MB must strongly transform digitally and take the lead in this field.

On November 4, the Military Commercial Joint Stock Bank (MB) held a ceremony to celebrate its 30th anniversary and receive the First Class Fatherland Protection Medal. President Luong Cuong and Prime Minister Pham Minh Chinh sent congratulatory flower baskets. The ceremony was attended by General Phan Van Giang, Politburo member, Deputy Secretary of the Central Military Commission, Minister of National Defense ; Deputy Prime Minister Ho Duc Phoc; Senior Lieutenant General Tran Quang Phuong, Vice Chairman of the National Assembly. Brightening and beautifying the image of the Army participating in labor production, economic development combined with strengthening national defense and security Speaking at the ceremony, Minister Phan Van Giang said that 30 years ago, the Military Commercial Joint Stock Bank was established to meet the requirements of the task of building the Army, strengthening national defense, and protecting the Fatherland in the new situation, especially the requirement of ensuring capital for the Army's enterprises. From a bank with modest capital and organization, with innovative thinking, creativity, great ambition and aspiration, MB has made strong development steps, the number of customers has reached 30 million, total assets have exceeded 1 million billion VND, annually contributing 7-8 thousand billion VND to the budget and being in the top 3 largest tax-paying banks in the country in 2023. MB is also a leading unit in digital transformation of the banking industry. In addition, MB has successfully completed the tasks assigned by the Ministry of National Defense, trusted by the Government to transfer weak banks to reorganize operations to ensure system safety, customer benefits and contribute to macroeconomic stability. In the face of difficulties and challenges, especially the impact of crises and economic recessions in Asia, around the world and the consequences of the COVID-19 pandemic, MB has still maintained an average growth rate of over 20%; Control and manage bad debts well, organize safe, effective, legal activities, in accordance with the direction of the Central Military Commission and the Ministry of National Defense. MB is attached to, supports, and accompanies units throughout the army to participate in socio-economic development associated with the implementation of national defense and security tasks; actively participates in the monetary policy of the State Bank, contributing to maintaining macroeconomic stability, gradually becoming a bank with a high brand and reputation domestically and internationally, a financial institution in the top of the commercial banking system in Vietnam, with a nationwide business network. MB has participated in social security activities with thousands of billions of VND, especially participating in the 450-day and night peak emulation campaign to eliminate temporary and dilapidated houses nationwide launched by the Prime Minister with an amount of over 120 billion VND.

Minister Phan Van Giang spoke at the ceremony.

The Minister of National Defense noted that the Military Bank continues to thoroughly grasp and strictly implement the viewpoints, policies, and socio-economic development strategies, military and defense guidelines of the Party, the laws of the State, and the direction of the Central Military Commission, the Ministry of National Defense, and the State Bank of Vietnam, successfully implementing the strategies and goals that the Bank has identified, operating in accordance with its principles, strict discipline, respect for the law, efficiency, safety, responsibility to society, preserving and promoting political mettle, professional ethics, promoting the tradition of corporate culture, and excellently completing assigned tasks... Minister Phan Van Giang requested that MB regularly take care of building clean and exemplary Party committees and organizations, strong and comprehensive units, exemplary models, promoting the study and following of Ho Chi Minh's ideology, morality, and style, the Campaign "Promoting tradition, dedicating talent, worthy of being Uncle Ho's soldiers", associated with promoting the movement "Emulation and Determination" "Winning", the movement "Good workers, creative workers". At the same time, innovate and improve the effectiveness of political and ideological education; absolutely do not let violations affect the prestige of the army; continue to brighten and beautify the image of the Army participating in labor production, economic development combined with strengthening national defense and security in the new situation. In addition, the Minister also requested MB to constantly innovate, actively apply advanced scientific and technological achievements in the digital age, improve management and operation capacity, have strategies and visions for each stage. In the immediate future, MB will successfully implement the 2022-2026 strategy and vision to 2030 to become a digital enterprise, a leading financial group, determined to maintain its position as one of the top five commercial banks in Vietnam.

Deputy Prime Minister Ho Duc Phoc: MB must rise to become a leading financial group, a pioneer in digital transformation

MB must rise to become a leading financial group, a pioneer in digital transformation. Speaking at the ceremony, Deputy Prime Minister Ho Duc Phoc congratulated the results that MB has achieved over 30 years of construction and development, and affirmed: The Government always creates conditions for the banking system to develop strongly. Deputy Prime Minister Ho Duc Phoc shared: The scale of our country's economy is still modest, in 2023 it was 430 billion USD, this year it is expected to be about 460 billion USD. In the coming time, "we must accelerate and make further breakthroughs, the scale must be 3-4 times larger than now", so the contribution of the commercial banking system, especially MB, is very large. The Deputy Prime Minister emphasized: This is a continuous task that the Military Commercial Joint Stock Bank must focus on, strive to become a leading financial group and a digital group. MB must transform digitally strongly, must be a pioneer in this field. Informing that, implementing the Party and State's policy of developing green economy and digital economy, focusing on green infrastructure and converting energy from fossil technology to renewable energy technology, Deputy Prime Minister Ho Duc Phoc hopes that in the coming time, MB will focus on participating in developing green economy and digital economy, participating more in key projects such as: North-South high-speed railway project; 3 connecting routes from China; airport projects, wind power, solar power, etc.

General Phan Van Giang, Politburo member, Deputy Secretary of the Central Military Commission, Minister of National Defense, awarded the First Class Fatherland Protection Medal to the Military Bank.

Colonel Luu Trung Thai, Chairman of the Board of Directors of the Military Commercial Joint Stock Bank, said that MB has now become a large, prestigious and influential financial group and institution in the domestic financial and banking market and is gradually expanding to the region. MB is the parent bank with 8 member companies operating in the fields of life insurance, non-life insurance, securities, consumer finance, fund management, debt management and asset exploitation. MB's business activities always prioritize safe development, firmly consolidate efficiency based on technology, sustainable development, and at the same time be a socially responsible unit with high responsibility to the community. Over the past 30 years, MB's total assets have increased from approximately VND 7 trillion in the period of 1994 - 2004 to VND 1.1 million billion in the period of 2014 - 2024, an average increase of 19%, charter capital increased by an average of 18%, average outstanding loans increased by 23%, and capital mobilization increased by an average. * At the Ceremony, General Phan Van Giang, Politburo member, Deputy Secretary of the Central Military Commission, Minister of National Defense awarded the First Class Fatherland Protection Medal to the Military Bank./. Source: https://baochinhphu.vn/mb-phai-phan-dau-vuon-len-tro-thanh-tap-doan-tai-chinh-hang-dau-tap-doan-so-102241104224802671.htm