Bac A Bank’s New Brand Identity System: “Not just Outer Change”

In late December 2011, North Asia Commercial Joint Stock Bank (Bac A Bank) launched a new brand identity system. Inspired by the philosophy: Vietnamese intelligence, Vietnamese resources and international technology, the new brand image of Bac A Bank is designed to present the missions that the bank has, and will, pursued: Consulting and serving a generation of sustainably developed businesses, bringing sustained value for investors, creating core values, generating true and environment-friendly value for the community life.

Ms Thai Huong, Vice Chairwoman of the Board of Directors and General Director of North Asia Commercial Joint Stock Bank, said: “The change to the brand identity system of Northeast Asia Bank is not just the change in the outer look but it comes with a strategy that will change service quality and development orientation. For corporate customers, we will continue to strengthen our role of directing and consulting investment into clearly defined target fields: living quality improvement and sustainable development like agriculture, forestry, pharmacy, health and education. These fields generate core values and sustainability. All such projects will be seriously and systematically consulted and planned by Bac A Bank. The largest milk cow farm in Southeast Asia with a total investment capital of US$1.2 billion is an evidence for the success of this direction.”

 

At present, Bac A Bank is assessed as a bank with safe investment consultancy, good financial operation, and a highly loyal customer base.

 

In the near term, Bac A Bank is gradually building and improving its business strategy in order to raise operational efficiency, and strengthen risk management and sustainable development. In addition to corporate customers, Bac A Bank will develop more modern and convenient products and services for personal customers. The bank will launch attractive products and services and expand transaction network and ATM system. With the connection with the Smartlink Card Alliance, the bank has improved is approach to and service for personal customers. Service quality will be invested and optimal solutions will be launched to bring maximum value to customers. In the coming time, Bac A Bank will issue a variety of utility card products for customers like VIP and Trueshopping cards, etc.”

 

The new brand identity system of Bac A Bank was designed to present the new image and development strategy: Modernise towards international standards but retain traditional identities of Vietnam. The logo is the modern-stylised lotus flower which symbolises the pure heart, wisdom, life philosophy, dedication, desire to grow up and optimism about the bright future. Lotus flower in a five-star shape is a symbol for the pride and image of Vietnamese people. Mainstream colours - metallic yellow and black - represent modernity, prosperity and innovation (high technology). All these brand elements portray the business philosophy of Bac A Bank: Placing its own interests inside the common interests of the nation, not seek to maximise profit at any cost but seek ways to harmonise all interests to have a sustainable future and a happier life. All operations of Bac A Bank are aimed to create core values and ‘eternal’ sustainability.

 

Together with the new brand identity system, core values of Bac A Bank are “Innovation, professionalism, reliability, continuous improvement for the sake of true human happiness and environment friendliness,” said Ms Huong.

 

The key for North Asia Commercial Joint Stock Bank to unlock success is to find out its own different way: Contributing to the rural industrialisation revolution. Bac A Bank believes that a generation of capable enterprises, particularly in terms of thinking capacity and financial capacity, will create a new revolution in agriculture: Applying high technology to agriculture and countryside and bringing most modern technologies of the world to Vietnam.

 

A great success of this direction is the TH True Milk project in Nghe An province that Bac A Bank is an investment consultant. The products of the project are delicious milk produced by cows raised on a dry sunny land. The project is said to change production structure in the southwest of the central region. With the presence of TH True Milk on the market, the supply of foreign milk for domestic production has fallen to 72 percent from 92 percent in previous years. This lays the foundation for the dairy industry.

After more than eight years of operation (since 1994), Bac A Bank has 65 transaction offices all over the country, particularly major localities like Hanoi, Ho Chi Minh City, Nghe An, Thanh Hoa, Quang Binh, Ha Tinh, Hue, Can Tho, Kien Giang and Hung Yen. The bank, with a authorised share capital of VND3,000 billion, has nearly 900 employees.

 

Bac A Bank now provides a full range of modern banking and financial services like credit accounts in local and foreign currencies, deposit, lending, financing guarantee, domestic and international payment, trade finance, money transfer, foreign exchange, card issue, card payment, traveller’s checks, homebanking and online banking.

In addition to commercial banking services like capital mobilisation, lending and payment services, Bac A Bank also consults financial investment and funds many projects in a wide range of fields like milk , food and pharmaceutical processing.