Military Bank – A 29-Year Journey of Breakthrough

After 29 years of breakthroughs and continuous innovation, MB has made remarkable strides with growth potential exceeding that of a traditional bank.

Rising to become a leading financial group.

From a bank with only 25 employees and an initial charter capital of 20 billion VND, over 28 years, Military Commercial Joint Stock Bank (MB) has become a multi-functional financial group and one of the largest financial institutions in Vietnam. Beyond providing banking services, MB Group offers the economy and millions of customers the most complete and comprehensive financial ecosystem currently available on the market, encompassing life insurance, non-life insurance, consumer finance, securities, fund management, and asset management.

Military Bank - A 29-Year Journey of Breakthroughs

MB Group offers the most complete and comprehensive financial ecosystem currently available on the market.

Thanks to its focus on digital transformation, MB has made a leap in customer base size, increasing from 4 million customers in its first year to 25 million customers in 2023. As of the end of October 2023, MB recorded 1.6 billion transactions on digital channels with a transaction value of 7 trillion VND. Of these, the MBBank app alone recorded 20 million transactions per day. The volume of transactions on digital platforms remained high at 96%, comparable to top banks in Asia. Simultaneously, MB is among the top banks with over 10 million active accounts in Vietnam.

As of September 30, 2023, MB Group's total assets reached VND 815,881 billion, a 12% increase compared to 2022. Consolidated credit growth was positive, with total outstanding loans reaching nearly VND 577,000 billion, equivalent to an increase of approximately 14% compared to the previous year. MB's consolidated pre-tax profit reached over VND 20,000 billion, recording a 10% growth compared to the first nine months of 2022. These results demonstrate that, even amidst the challenging economic environment, MB has maintained positive growth momentum, bringing increased benefits to customers and shareholders.

Aiming for 30 million customers to celebrate its 30th anniversary (1994-2024)

In a letter to MB Group's staff on the occasion of its 29th anniversary, Colonel Luu Trung Thai, Chairman of the Board of Directors of MB, affirmed that MB, both in the past 29 years and in the years to come, remains steadfast in its mission of "For the development of the country, for the benefit of customers." "The new values created for customers and organizations are the result of a profound combination of technology and financial and banking expertise," the head of MB emphasized.

MB Chairman Luu Trung Thai spread the customer-centric mindset at MB, which is "to create the simplest possible customer experience." For example, if a financial service has 10 steps, MB meticulously reduces it to 3 steps. The steps must be logically arranged, as simple as possible, easy to see, easy to operate, and require minimal interaction. "Excellent and reasonable service will retain customers," he affirmed.

Over the past five years, MB has consistently invested systematically in implementing its digital transformation strategy. MB allocates approximately $50 million annually to independent technology infrastructure, training of technology personnel within the bank, and the deployment of numerous projects on automation, robotics application in operational processes, and system improvement. As one of the banks with the largest team of technology personnel and experts currently, with over 2,000 people – accounting for 10% of the bank's total workforce – MB currently has a personnel structure similar to that of a technology company.

MB focuses on developing a digital ecosystem across two platforms: the MBBank App (for individual customers) and BIZ MBBank (for corporate customers), continuously refining and developing new features to improve customer experience, even the smallest details.

To mark its 29th anniversary, MB has recorded 25 million customers, equivalent to 25% of Vietnam's population, with accounts at MB. Looking ahead, MB aims to reach 30 million customers, celebrating its 30th anniversary in 2024.

Hi MB 29-HiGreen!

Also on the occasion of its 29th anniversary, MB officially launched the HiGreen – Green Dawn campaign. This is a Participatory CSR campaign initiated and sponsored by MB, aiming to convey the message of sustainable living, concern for the environment and community to 25 million customers and society. The campaign is part of MB's ESG strategy, aiming to raise VND 15.6 billion and is expected to attract 150,000 participants through sports activities, direct donations, and smart charitable accumulation.

The HiGreen campaign aims to convey the message of sustainable living, concern for the environment and community to 25 million customers and society.

With the goal of "Transforming landfills into playgrounds," the funds raised will be used to support the social enterprise Think Playgrounds (TPG) and other social organizations to renovate illegal landfills and build environmentally friendly, sustainable playgrounds and public spaces in Hanoi, Hoi An, Da Nang, and Ho Chi Minh City. These projects will serve at least 10,000 children and 50,000 residents and promote equal access for vulnerable communities (the poor, immigrants, people with disabilities, etc.). Details of the program can be found here.

Sharing about MB's "green imprint," Lieutenant Colonel Pham Nhu Anh, General Director of MB, said: "In each of MB's current products and services, in addition to meeting the increasingly high demands of customers, we always prioritize the application of ESG criteria, contributing to positive changes in society and the economy, while realizing the goal of becoming a green enterprise and a business that supports sustainable economic development."

YANG ZI

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