AsemconnectVietnam - Military Commercial Joint Stock Bank (MB) has just said that it is expected that by the end of June 2024, the Bank can achieve credit growth of about 6-6.5%. Accordingly, with this year's credit growth target of about 15.5%, MB will need to reach about 8% more in the last six months of this year.

Mr. Pham Nhu Anh, General Director of MB, said that MB is expected to complete the above target in the early or middle of the fourth quarter.
MB CEO said that when setting credit growth goals, what MB and banks expect most is the economy's absorption. In addition to the absorption of the economy, banks now have comprehensive solutions; there is no single solution to ensure credit growth and market absorption. To date, banks have also reduced interest rates the deepest, perhaps in the past 10 years. If the price is low, demand will increase. Banks continue to reduce costs to solve the price problem.
The second issue is about procedures, banks also continue to refine their procedures. In particular, MB will rely on the MBBank App platform for individual customers and BIZ MBBank for corporate customers to continue lending and automatic approval. MB is now focusing on end-to-end processes, providing customers with automated experiences across MB's digital applications. This will help shorten the process and reduce human intervention in the decision-making process, so customers can be more proactive. MB's ambition is to provide credit products to customers as quickly as possible with the best experience.
Third is to develop products and processes according to new laws and new policies. Once the new laws come into effect after August 1, this will have a huge impact on customers, so we need to fine-tune processes and products according to the law and circulars and recommendations will be issued to remove bottlenecks and difficulties. From there, we can serve and bring better experiences to customers.
Orientation for 2024-2029, MB said, the Bank targets total asset growth of 14%, HDV growth of 15%, profit growth of 12%, bad debt below 2%, capital adequacy ratio (CAR) minimum 9%, efficiency indicators (ROE, ROA, CIR) are top in the banking industry, the number of customers reaches 40 million customers by 2029 and the dividend rate is 15%-20%.
Regarding total assets, the bank aims to increase by 13%, or reach nearly VND1,068 million billion by the end of 2024, becoming the next bank to surpass the 1 million billion milestone after the Big 4 group. Besides, MB strives to achieve at least 30% of revenue from digital channels, aiming for 50% of revenue from digital channels by 2026. At the same time, the bank will integrate ESG in implementing the group's long-term goals, towards sustainable development according to strategy. MB's plan is considered a "safe plan" based on the industry-wide research situation.
N.Nga
Source: VITIC/Tinnhanhchungkhoan