MB empowers import-dependent enterprises with incentives and digital services

A contraction in the overall import-export volume during Q1/2023

According to figures compiled by the General Statistics Office of Vietnam, the nation's combined import-export volume for the first quarter of 2023 is estimated to have taken a dip, standing at a modest $154.27 billion. Of this, imports witnessed a sharp descent of 14.7 per cent.

In an environment characterised by dwindling global demand, rampant inflation, and economic recession gripping multiple nations, import-oriented businesses continue to grapple with formidable challenges.

Amidst the landscape teeming with hurdles, MB emerges as a vanguard, forging ahead and extending numerous incentives to provide import-dependent enterprises with the confidence to embark on new business ventures.

An alluring suite of advantages emanating from BIZ MBBank

From June 1 to August 30, businesses boasting a revenue scale up to VND1 trillion (around $43.5 million) are exempted from fees entailed when utilising the online international money transfer services offered on the illustrious BIZ MBBank digital banking platform. Additionally, transaction fees will be waived until June 30, 2024.

Moreover, all international money transfer transactions executed through BIZ MBBank benefit from exchange rate advantages, empowering businesses to potentially garner a maximum increment of 80 points relative to the published exchange rate.

Armed with these tantalising incentives, import-dependent enterprises can bask in the glory of financial savings, potentially amounting to millions of VND.

Beyond the enchantment of fee waivers and exchange rate advantages, the services on BIZ MBBank hold the promise of delivering an unrivalled experience. Enveloped within this pioneering feature lies the power to fulfill all businesses' international money transfer needs through digital channels, removing the antiquated requirement of paper-based documentation.

To add to the allure, MB pledges to fulfill online international money transfer orders within an hour, commencing from the moment of customers' successful order confirmation on the BIZ MBBank platform.

Encompassing such distinctive benefits, the online international money transfer functionality on BIZ MBBank has been honoured with numerous accolades. It was celebrated in the coveted category of Outstanding Bank with Innovative Products and Services at the prestigious Vietnam Outstanding Banking Awards 2022, an event organised by the International Data Group on May 26.

The prized attributes encompass transactions processed in their entirety through digital means, accompanied by an extraordinary processing swiftness clocking in at under 60 minutes, establishing this feature as a trailblazing asset within the market.

BIZ MBBank - An unyielding augmentation of benefits for businesses

As a testament to its commitment, MB continues to bestow the blessings of preferential interest rates, reduced by 2 per cent per annum, on businesses generating revenues below VND100 billion ($4.3 million), when engaging online disbursements through the BIZ MBBank platform.

These newly minted policies engineered by MB not only shoulder the burden faced by enterprises but also serve as a catalyst, galvanising businesses to actively participate in the digital transformation drive – aligned with the overarching objective of the national digital transformation agenda.

In addition to these benefits, businesses engaging in transactions through BIZ MBBank are presented with a plethora of enticing opportunities. They stand to gain rewards such as the gift of a visually pleasing account number worth up to VND200 million (almost $8700), a refund of VND200,000 ($8.70) upon successfully opening an account, and an accumulation of points through transactions, culminating in the redemption of alluring prizes tailored for businesses and business owners, with a total value reaching up to VND100 million ($4300) per customer under the BIZ Star programme.

BIZ MBBank stands as a cutting-edge digital banking platform that provides financial services for corporate customers, accessible through both mobile applications and websites, all masterminded by the MB entity.

This platform seamlessly facilitates online registration and new account activation for all customers. Consequently, businesses are equipped with the power to execute a comprehensive array of financial transactions in a fully online capacity, ranging from cash flow management and supply chain oversight to seamless payment processing, employee salary distribution, international fund transfers, and foreign currency exchange.

BIZ MBBank also guarantees the utmost security in conducting these transactions, accompanied by unparalleled swiftness and processing accuracy.

MB Laos launches new banking app MB's Laos branch officially launched a fresh banking application for individual customers in the capital city of Vientiane on April 21.

MB sets sights on increasing charter capital and upcoming M&A deal All eyes have been on Military Commercial Joint-Stock Bank (MB) as it continued to make waves in the Vietnamese banking landscape, solidifying its position as a major player in the industry with its upbeat performance. Nonetheless, certain concerns have been raised regarding the bank’s real estate loan portfolios, a merger and acquisition (M&A) deal with a weak Vietnamese bank, and its restructuring process with MCredit.

MB and SBI Shinsei Bank sign MBCambodia equity deal MB Group and SBI Shinsei Bank officially inked a agreement on April 7 for the sharing of equity investment in MB Bank (Cambodia), a new commercial bank recently launched in Cambodia.

UOB empowers Vietnamese SMEs to harness digital technologies UOB FinLab, an innovation accelerator, announced its official launch in Vietnam today, granting small- and- medium- sized enterprises access to digitalisation and sustainability programmes, matching of business solutions providers, mentorship, and valuable resources.