The Mekong Development Joint Stock Commercial Bank (MDB) has continuously expanded and become one of the reputable banks financing agriculture – rural development, consumption, and small and medium enterprises. The success comes from its big investment in personnel, and pioneering technology to create advantages of services, thereby helping to bring MDB brand closer to its customers.
Officially founded on October 12th 1992 with its headquarters in Long Xuyen City, An Giang province, MDB has now over 50 branches and transaction offices across the country. It has charter capital of VND3,750 billion, among Vietnam’s 20 banks with the highest charter capital. More importantly, in 2010, MDB has a strategic partnership with Fullerton Financial Holdings Pte., an investment group owned by Temasek Holdings Pte., which belongs to the Singapore government. This co-operation has enabled MDB to make use of advantages in applying international standards in its products and services. MDB has focused on development of human resources that is the core element in all corporate activities and success. At present, MDB is the place to which many experts in banking – finance fields with years of experience in large banks around the world converge.
In addition, MDB is the pioneer applying modern technologies into professional banking operation procedures and products, creating outstanding advantages for MDB against its competitors and has drawn much attention from national clients. Notably, the product named “MDB Debit Card - the first to use fingerprint in Vietnam” uses fingerprint as secret code instead of PIN, which fully guarantees security and convenience against debit cards issued by other banks. Beside similar functions as ATM card such as withdrawing, remittance and undertaking other financial transactions easily and quickly, MDB card holders not only can withdraw cash with no charge and easily at over 8,500 ATM posts of MDB and Smartlink network, but also are given incentives when shopping in over 38,500 nationwide places that accept the card and have link with Smartlink. MDB is the first to successfully adopt this new technology card in Vietnam and Southeast Asia. Lately, MDB has released new services of Internet Banking, which help to save time and increase benefits and comfort for MDB’s clients when making transactions.
The strength of MDB for the past years in the province regarded as Vietnam’s biggest granary is of loans for agriculture – rural area and consumption, to well observe Government Decree 41/2010/ND-CP. In particular, distribution of loans for agriculture – rural sector currently occupies 40.81 percent of total MDB’s loans. Apart from understanding and being responsive toward clients, MDB has introduced policies and products to create favourable conditions for those from rural area to access preferential capital. MDB has won trust of clients and farmers thanks to its good service, enthusiastic and responsive serving attitude as well as various competitive products. Notably, the volume of credits undertaken by MDB for years to enable clients to decrease costs and time is the advantage MDB has gained to serve clients in the best manner. This is reflected by the large number of clients in An Giang and neighbourhood.
In the coming time, MDB continues to foster its investment into four main sectors including loans for agriculture – rural area, loans for consumption (focusing on local featured products in An Giang in particular and across the country in general whereas MDB is presently concentrating on loans for buying motorbikes and loans for officers), loans for individual merchandisers and loans for small and medium enterprises (SME).
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