Press wrote about BAOVIET Bank

BAOVIET Bank towards sustainable development

As the youngest member of Baoviet Finance - Insurance Group, after 5 years of operation, BAOVIET Bank has step by step become a pioneer bank in service quality and comprehensive banking - insurance - investment solution. Mr. Nguyen Hong Tuan, General Director of BAOVIET Bank shared with Finance & Investment about BAOVIET Bank's upcoming activities. 

Reporter: What do you think are the factors that affect banking&finance market in 2014, sir? 

Mr. Nguyen Hong Tuan
General Director of BAOVIET Bank

Mr. Nguyen Hong Tuan: In 2014, both the world economy and Vietnam economy are assessed to grow higher than 2013, however, in case of modest recovery, macro economy contains risk, domestic manufacturing area still undergoes difficulties, policy kink and institution are still unfastened, high level of bad debt... there is a high possibility that Vietnam economy in 2014 still witness a low GDP growth of under 6%.  

2014 banking & finance market, however, will still be maintained stable by cautious monetary regulations and policy which would be more flexible under the management of State bank and the government. 

Banks still need to cope with difficulties in remaining issues since 2013, among which, bad debt handling has been a biggest challenge since several regulations of state bank about debt structure began to validate.

Please name some aimed business targets of BAOVIET Bank in 2014? What about the possibility to reach these targets? 

In 2014, understanding forecasted challenges, BAOVIET Bank has defined target and strategy direction for the next year: Continue developing safely and sustainably, focusing in bad debt handling and increase credit cautiously under tighly management and supervision in order to ensure safety and increase risk management quality; Continuously fufil organization engine, working procedure, improve bank service supply quality, diversify products to serve customers; Implement liquidity, market risk measurement and improve capital quality to balance capital in the whole system; Promote service to transfer revenue structure from credit to service fee charge; Enhance advantage in cooperation with other members of Baoviet Holdings. 

Some specific target that BAOVIET Bank set for 2014: Net revenue growth at 10% and profit before tax increases 15% in compared to 2013. BAOVIET Bank believes in fulfilling these set targets for 2014, which actively contributes to the development of Baoviet Finance - Insurance Group and towards Big celebration day of Baoviet Holding - 50 years of foundation and development.

In  2013, BAOVIET Bank has developed diversified traditional banking products, service, enhanced electronic distribution channel. How will these activities be enhanced in 2014? 

In order to help customers access banking service more easily and more efficiently, besides developing diversified traditional products, banking service, BAOVIET Bank has efficiently implement Bancassurance; Develop electronic distribution channel with many conveniences that have been highly appreciated. 
Preferential products and programs which meet rising demand of customers, such as: Overdraw by deposit for enterprise; Preferential rate for individuals borrowing to buy land, car ("Cung BAOVIET Bank xay to am" product)... and many other preferential services such as: Free money withdraw at ATM; Golden address program for BAOVIET Bank card owner. 

In 2014, BAOVIET Bank continues to bring out many preferential policy and overall package as a grateful gifts to customers. Outstanding programs includes “Celebrate birthday. Welcome spring” with thousand of attractive gifts for depositors; introduces fast interbank money transfer (ibt 24/7) via Internet Banking… Recently, BAOVIET Bank implement e commerce service BVB-Ecom, which allows card holder to conduct transaction at hundreds of website via ATM card…

Diversifying modern products and services, BAOVIET Bank assure message “As a member of Bao Viet Holdings, BAOVIET Bank brings comprehensive finance solutions to customers: Insurance – Investment – Financial service”.

Investors, clients have always been interested in risk management in banking sector. How has this issue been addressed at BAOVIET Bank?  

BAOVIET Bank apply centralized risk management model and in a careful way. It is a risk management model with independent separation among 3 main functions: Business, Risk management and operation with top target is to reduce risk to an acceptable level, as well as to bring in to play staff’s expertise to maximum level. Organization structure model, personnel management machine, risk management has continuously been standardized.  

Besides, BAOVIET Bank increases investment in modern information and technology infrastructure, creating faith in customers. BAOVIET Bank defines near future’s target and strategic direction are to maintain achieved results and continues to develop safely, sustainably, to continue investment, to finish risk management system to improve operation efficiency and keep customers’ faith.

Follows previous year’s tradition, how charity activities towars society will be implemented by BAOVIET Bank in 2014?

Upholding traditional "Gratitude" and " Good leaves protect torn leaves " of  Baoviet Holdings, in recent years BAOVIET Bank has held many community activities demonstrating corporate responsibility towards society. In 2 years from 2012-2013, BAOVIET Bank spent about 700 million vnd for society activities. Outstanding activities include: supporting  the construction of Thanh Co nursery

school and Funeral House of National Martyrs’ Cemetery, Route 9; sponsoring Operation smile surgery at 108 military hospital; presenting passbooks to families of insured solders during war…

In the future, BAOVIET Bank will not only focus on business development but also actively participate in charity-society activities, in order to affirm the message: “Being a member of Bao Viet Holding, BAOVIET Bank always orients to the commitment to make significant contributions to the community development through social and humane activities”.


Thank you!



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