MB in top 4 Vietnam’s most prestigious commercial banks

October 24, 2021 | 16:02
Military Joint Stock Bank (MB) ranked fourth in the top 10 of Vietnam’s most prestigious commercial banks in 2021 in recognition of the bank's proactive response to the pandemic as well as the swift digital advancement to offer tailor-made services addressing customers' unique needs.
MB in top 4 Vietnam’s most prestigious commercial banks
MB was ranked as the fourth most prestigious commercial bank in Vietnam this year

Vietnam’s Top 10 most prestigious commercial banks in 2021 was awarded by Vietnam Report JSC based on financial assessment; surveys of customers, banks, finance and banking experts; and quality of communications.

An MB representative told VIR that the award is of “significant meaning” as it affirms MB’s operational efficiency as well as cement the bank's leading position in the industry.

"We have continuously reinvented ourselves as a technology-forward institution with prolific digital innovations," the representative emphasised.

The COVID-19 pandemic has made a major impact on the global economy, including the Vietnamese market. While many industries face difficulties, banking is considered to have its bright spots during the pandemic. As for MB, it has been a "prime time" for the bank to accelerate the digital transformation process and enhance customer experience in the digital sphere.

Having integrated multiple bells and whistles into its services, by the end of the first nine months of 2021, MB boasts nearly 8 million MBBank app users. In 2021 alone, there have been over 4.5 million new app users and around 60,000 businesses using the BIZ MBBank app. Compared to the end of 2020, the number of MBBank app users has increased by 120 per cent, accounting for 75 per cent of individual customers. The total transactions on MB’s digital channel account for 94 per cent of the number of transactions.

MB in top 4 Vietnam’s most prestigious commercial banks
As an early adopter and innovator in technology, MB has been constantly innovating and raising the bar to develop top-notch banking services

MB has constantly innovated its products, especially digital services, to bring a superior experience for customers. Notably, the bank has implemented branch digitisation by putting MB SmartBank, which synchronises all online to offline (O2O) transactions and vice versa into operation, making all transactions much easier.

Customers are also allowed to choose a personalised (beautiful) account number, make payments using QR codes, and perform international money transfers quickly, among others on the MBBank app (for individuals) and BIZ MBBank (for businesses).

In addition, MB was also honoured in the top 2 Banking and Financial Services brands at the Vietnamese Strong Brand Award 2020-2021 held by VnEconomy, and is in the top 8 public companies in 2021 announced by Vietnam Report for having proven its adaptability, flexibility, and ability to grow amid the pandemic.

By Hien Nguyen

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional