Over the past 18 years of operation, the Binh Duong Branch of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank Binh Duong) has constantly grown to become one of the largest commercial banks in Binh Duong and positively contributed to local economic and social development.
Vietcombank Binh Duong, founded in 1999, is one of the first banks in the province. In spite of a very low starting point, the branch is now one of the three largest commercial banks in Binh Duong province and among the five largest branches in the Vietcombank system.
At present, apart from the Head Office located in the heart of Thu Dau Mot City, Vietcombank Binh Duong has four transaction offices: Thu Dau Mot, Phu Chanh, Tan Uyen and VSIP Transaction Office. The growth of Vietcombank Binh Duong has created a premise for Vietcombank to develop two other branches in the province, namely Vietcombank in South Binh Duong and Vietcombank in North Binh Duong.
Vietcombank Binh Duong raised only VND5.8 billion and had outstanding loans of VND14 billion in 1999, but mobilised more than VND13,000 billion and had outstanding loans of over VND10,500 trillion. In 2017, its deposits reached nearly VND17 trillion and its outstanding loans topped over VND12 billion.
Vietcombank Binh Duong is the leading provider of international payment services, forex services and card services. In 2014 and 2015, the branch’s average import and export payments was over US$1.2 billion a year and the forex revenue was US$1.6 billion. In 2016 and 2017, it reported US$1.8 billion of import and export payments and US$1.5 billion of forex revenue a year. So far, Vietcombank Binh Duong has issued over 420,000 credit cards and ATM debit cards and nearly 250,000 customers are using electronic banking services.
With its good products, good reputation and popular brand, its customer base has kept expanding. By the end of 2017, Vietcombank Binh Duong had nearly 6,000 corporate customers and more than 450,000 personal customers.
Siding with the business
More than 60 credit institutions are active in Binh Duong province, thus forming a very competitive environment. Mr Nguyen Thai Minh Quang, Director of Vietcombank Binh Duong, said that, to achieve these results, the branch needed the ongoing endeavours of all the staff, valuable support from local authorities and close direction from Vietcombank. “Based on directions, guidelines and viewpoints of Vietcombank, Vietcombank Binh Duong has applied practical and effective solutions with the highest consensus and determination of the staff,” he said.
Quang added that the recent success of Vietcombank Binh Duong also comes from good customer care, which is always considered the centre and the focus of all activities. The branch always flexibly applies preferential interest rates and fees and effectively manages operating costs to share with the business community and raise the capital efficiency of customers, particularly small and medium-sized enterprises (SMEs). To support the business and strictly comply with policies and guidelines of the Government and the State Bank of Vietnam, Vietcombank Binh Duong has stepped up credit financing to remove hardships for enterprises. Therefore, in the current structure of outstanding loans, the share of SME loans accounts for 30 per cent. “In 2017 alone, Vietcombank Binh Duong granted nearly VND7,000 billion of preferential loans to businesses, accounting for 60 per cent of its total outstanding loans. Its interest subsidies were worth VND170 billion,” he added.
According to Quang, with constant efforts for higher service quality and effective application of Vietcombank customer policies, the Branch Board of Directors always thoroughly conveys the spirit and attitude of customer service to all the staff and inspires them to work harder to raise customer service quality and increase customer satisfaction. Vietcombank Binh Duong has more than 450,000 personal customers and nearly 6,000 corporate customers. This very large customer base requires all branch employees to work very hard to serve well. At Vietcombank, customer service quality is assessed every month and Vietcombank Binh Duong is proud to be one of the best performers in customer service in the Vietcombank system.
Good service quality, well-established brand prestige and absolute safety plus technological and interest rate advantages are making Vietcombank Binh Duong the first choice of customers and the trustworthy partner of local enterprises. With the bank - business partnership, Vietcombank Binh Duong is contributing positively to local socioeconomic development, industrialisation and modernisation.