Vietcombank is honoured to get the Vietnam Value Awards for the seventh time

Vietcombank has once again received the Vietnam Value Award

Over the years, Vietcombank has been leading the local banking scheme with plenty of breakthroughs in performance, especially resolving bad debts. The bank has also made significant contributions to the national budget and participated actively in community development, according to Vietnam Report – a company ranking businesses in Vietnam.

In the recent five years, Vietcombank paid nearly VND31 trillion ($1.34 billion) in tax and dividends into the national budget. In 2019 alone, its tax contributions reached VND9.2 trillion ($400 million). Moreover, Vietcombank has accompanied the local authorities of disadvantaged areas to develop healthcare establishments and sponsored disadvantaged children to the tune of nearly VND1 trillion ($43.47 million).

While this year was largely spent in the looming shadow of COVID-19, Vietcombank has also successfully performed the "double mission” of helping the country to control the pandemic while supporting business and individual customers pushed into trouble by the virus by reducing and waiving interest rates, fees, and restructuring liabilities. The bank has spent more than VND3 trillion ($130.4 million) on these activities in total.

After more than 50 years of operations, Vietcombank is one of the nation’s largest commercial banks. It has nearly 600 branches, transaction offices, representative offices, and member units in domestic and overseas markets, including its headquarters in Hanoi, 111 branches, 472 transaction offices, four subsidiaries in Vietnam, three subsidiaries in overseas (Laos, Hong Kong, and the US), and representative offices in Ho Chi Minh City, Singapore, and the US.

Additionally, the company has three service delivery agencies, including a human resources training institute, two cash service centres in Hanoi and Ho Chi Minh City, and four joint venture companies. Vietcombank has more than 18,000 employees.

Vietcombank is also developing 2,536 ATMs and 60,000 units accepting card payments across the nation. The bank’s operations are backed up by a network of 1,316 correspondent banks over 102 nations and territories.

According to Hong Quang, member of Vietcombank’s management board, with the country's fast-paced economic integration, bank services cannot stop at interest rates and product packages – the quality of human resources and company culture are becoming essential differentiators in this world. This is reflected in the bank's vision and strategy for 2025-2030.

Vietcombank has been constantly conducting surveys and related projects to gauge satisfaction levels and loyalty of staff members at the bank. The results are used to improve policies at the bank.

Under its vision to 2025, Vietcombank targets becoming the No.1 bank in Vietnam, one of the 100 largest banks in Asia, the 300 largest banks in the world, and the 1,000 largest listed companies globally.

Vietcombank is honoured to get the Vietnam Value Awards for the seventh time (source: tapchitaichinh.vn)

2020, the first time the Vietnam Value Programme has been implemented according to Decision No.30/2019/QD-TTg dated October 8, 2019 on promulgating regulations on building, managing, and implementing the Vietnam National Brand Programme.

Mr. Vu Ba Phu, General Director of Trade Promotion Department, Ministry of Industry and Trade, said that after 17 years of implementing the program of voting national brands of seven brands, we have witnessed the continuous growth of many domestic enterprises.

By 2018, this had grown to 97, and this year we have registered 124 businesses and their brands.

However, the growth of the business community is not only in the number of enterprises participating, but also in exports, sales, contributions to the state budget, as well as their efforts in social responsibility. and job creation.

At the first selection in 2008, we saw only 30 selected companies with their products. By 2018, this had grown to 97, and this year we have registered 124 businesses and their brands.

However, the growth of the business community is not only in the number of enterprises participating, but also in exports, sales, contributions to the state budget, as well as their efforts in social responsibility. and job creation.

For example, the national brand recognized enterprise in 2018 achieved revenue of about 907 trillion VND (39.4 billion USD), export turnover reached 130 trillion VND (5.6 billion USD), contributing 85 trillion VND (3.7 billion USD) to the state budget and created 340,000 jobs.

Meanwhile, this year, those figures have increased to 975 trillion dong (42.4 billion USD) and 123 trillion dong (5.34 billion USD) by 2020, with the amount contributed to the bank. State books amounted to 179 trillion VND (8.5 billion USD) and 350,000 new jobs were created - all despite the pandemic.

Vu Ba Phu also said that, the Ministry of Industry and Trade has supported businesses in difficulty. After the first months of the health crisis, the domestic market was redefined.

Right from the beginning of the year, following the direction of the Government, the Ministry of Industry and Trade has worked with ministries, branches and localities to implement supply-demand activities across the country to remove difficulties for businesses in production. and distribution.

In addition, to support businesses with high quality brands, we have also been integrating selected brands into national promotions such as the Clean Food Program to vote Vietnamese products for local people.

The integration of such programs has helped grow the domestic market since the beginning of the year, despite the economic consequences of the pandemic. This shows that the communication, promotion and support efforts of the Ministry of Industry and Trade and its agencies so far have been effective.