Pioneer in digital transformation
With the motto "Beautiful Bank - Good Service", Nam A Bank always focuses on the neatness of image, takes care of each transaction, puts customers at the center, and meets all essential financial needs. In particular, investing heavily in technology and not stopping at digital transformation, this bank has gradually captured market share with digital innovation.
Customers transact at ONEBANK.
In 2023, Nam A Bank will continue to make its mark in the digital transformation market through the development of technology applications in business administration and management activities to create differentiated, seamless, fast, safe and secure products and services.
Nam A Bank continues to develop the Digital Banking Ecosystem as well as apply AI in banking operations. In particular, this is one of the first banks to apply QR codes to cross-border payments in Thailand through Open Banking and will continue to deploy in Cambodia, Laos, and China in the near future.
At the same time, this bank brings technology applications to the cloud platform (Cloud), ONEBANK, Robot OPBA into operation to improve customer experience.
Being at the forefront of digital transformation has helped Nam A Bank's number of individual customers increase sharply in recent years. It is also the solution to the problem of expanding the network while still ensuring reduction of operating costs.
In particular, the volume and value of Nam A Bank's e-banking transactions increased by 11.8 times compared to 2021. By November 2023, it increased by 1.55 times compared to the end of 2022. The number of active customers doubled compared to 2022.
With the strategy of "Top human resources, leading technology", in 2023, Nam A Bank continues to be recognized by prestigious organizations at home and abroad through a series of prestigious awards such as: "Vietnam Digital Transformation" Award - Vietnam Digital Awards 2023; Dynamic Bank 2023 and Outstanding Bank With Innovative Service 2023 by Napas; Open Banking Initiative of the Year 2023 - The most innovative digital banking ecosystem in Vietnam 2023. In particular, Nam A Bank was recently recognized as the leading bank in the Vietnam ICT Index 2022 announced by the Ministry of Information and Communications ; Mr. Nguyen Vinh Tuyen - Deputy General Director of Nam A Bank received the award for Outstanding Digital Transformation Leader in 2023...
Continuously improve asset quality
With efforts to grow in scale and control credit quality, Nam A Bank has continuously made strong progress in business activities, increased charter capital, expanded its network, and improved asset quality to ensure growth targets.
If in 2013, Nam A Bank's total assets were more than 28,000 billion VND, now it has reached nearly 210,000 billion VND, an increase of 7.5 times, joining the Top 20 banks with the largest total assets in the entire system.
Charter capital continuously increased, in August 2023, Nam A Bank increased from nearly 8,500 billion VND to more than 10,500 billion VND. In terms of business activities, Nam A Bank continuously had stable growth steps, joining the group of banks with profits of thousands of billions.
Rapid and sustainable development steps in business activities have contributed to helping Nam A Bank attract a large number of customers. In order to meet the increasing transaction demand, the bank has continuously expanded its network from urban to rural areas, from traditional transaction points to automatic digital transaction points.
Compared to the first years of establishment with only a few branches and transaction offices, the bank now owns nearly 250 business locations nationwide (nearly 150 traditional transaction locations and 100 ONEBANK 365+ automatic digital transaction locations).
Over the past few years, this is one of the few banks approved by the State Bank to expand its network, demonstrating Nam A Bank's stable, effective and sustainable operations in the market.
Risk management according to international standards
The trend of globalization poses many opportunities and challenges in banking activities, especially in risk management. Accordingly, Vietnamese banks have continuously improved their risk management systems, especially risk management according to international standards.
Nam A Bank implements International Financial Reporting Standards IFRS.
In 2022, Nam A Bank will be one of the first four Vietnamese banks to complete Basel III international risk management standards.
In 2023, the bank will continue to complete the implementation of the credit risk component according to the Basel II - FIRB internal credit rating method and continue to complete the development of methodologies and tools according to Basel III - Reforms standards. Thereby becoming one of the first banks in Vietnam to complete the advanced requirements of Basel.
At the same time, after more than 18 months of efforts to implement the international financial reporting standards IFRS, in October 2023, Nam A Bank and Ernst & Young Vietnam held a handover ceremony for this project, marking an important milestone in pioneering the application of international financial management standards.
In internal operations, Nam A Bank has built an early risk warning system, developed and implemented a risk management manual across the system with specific criteria to work together to prevent incidents. At the same time, it continuously forecasts the economic situation and risks to provide flexible handling scenarios for market changes.
With an effective risk management strategy, Nam A Bank has been recognized by prestigious domestic and international organizations through a series of awards such as Outstanding Risk Management Bank; Excellent Risk Management Bank in Vietnam for many consecutive years...
PV
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