VietinBank honored in Top 50 listed enterprises with best corporate governance practices

On December 5, 2024, Vietnam Joint Stock Commercial Bank for Industry and Trade ( VietinBank , stock code: CTG) was named in the list of 50 pioneering listed enterprises committed to improving corporate governance in Vietnam - VNCG50 at the Annual Forum on Corporate Governance (AF7). With the theme "Investing in Corporate Governance: A Strategy to Attract Responsible Investors in the Trend of Market Internationalization", AF7 is the most prestigious professional event in Vietnam on corporate governance integrated with ESG and Sustainable Development organized by the Vietnam Institute of Directors (VIOD) with the support of the International Finance Corporation (IFC), the Swiss State Secretariat for Economic Affairs (SECO) and the State Securities Commission (SSC), with professional support from the two Stock Exchanges of Ho Chi Minh City (HOSE) and Hanoi (HNX). The VNCG50 list is an initiative first announced at the Forum, by corporate governance experts from stock exchanges, representatives of investment funds, securities companies and independent experts to review and select 50 listed enterprises with the best corporate governance activities on the Vietnamese stock market.

Mr. Vuong Huy Dong, Deputy Secretary of the Board of Directors & Shareholders' Meeting - representative of VietinBank (7th from right) received the Certificate

As a large-cap listed enterprise on the market and a State-owned commercial joint stock bank, VietinBank not only needs to comply with legal regulations for listed enterprises (as prescribed by the State Securities Commission and the Stock Exchanges) but also has to meet the regulations of State-owned enterprises (as prescribed by the Ministry of Planning and Investment and the State Bank). Therefore, a transparent and effective corporate governance model is always prioritized by VietinBank and is increasingly being improved, becoming a consistent policy in the Board of Directors. In its journey of sustainable development, VietinBank is always strongly committed to improving corporate governance efficiency, complying with business ethics, minimizing risks and aiming to build an effective implementation model. VietinBank's governance model has been completed with all the entities required by regulations for a listed enterprise, including: General Meeting of Shareholders, Board of Directors (BOD), Committees under the BOD, Supervisory Board (BOS), Executive Board (BOD)... The bank's governance structure always ensures effective coordination and close supervision between the BOD, BOS and BOS; promoting transparency and timeliness. At the same time, VietinBank also pioneers in building and implementing a system of internal regulations and rules to create a unified and consistent governance mechanism, contributing to ensuring the best interests of shareholders and other stakeholders. Not only that, VietinBank also actively references the best domestic and international practices and standards on corporate governance such as: The Corporate Governance Principles according to best practices issued by the State Securities Commission and IFC, the Corporate Governance Code of the Organization for Economic Cooperation and Development (OECD), the ASEAN Corporate Governance Scorecard... to improve the quality of governance, creating a foundation for developing safe - effective - sustainable business activities. Based on the annual assessment results, VietinBank identifies areas that need improvement to continuously strive to perfect the governance structure, ensuring effective and appropriate supervision and implementation. Being in the Top 50 Listed Enterprises with the Best Corporate Governance Practices is a recognition by professional organizations of VietinBank's commitment and continuous efforts in building and perfecting the corporate governance system towards transparency, professionalism, increasing VietinBank's competitiveness on the journey to implement the sustainable development strategy. Source: https://baodautu.vn/vietinbank-duoc-vinh-danh-trong-top-50-doanh-nghiep-niem-yet-thuc-hanh-quan-tri-cong-ty-tot-nhat-d232105.html