The Asian Banker awards MB two titles

By May Pham   August 6, 2021 | 01:15 am PT
The Military Commercial Joint Stock Bank (MB) was awarded two prestigious awards within the framework of Transaction Finance Awards Virtual Ceremony 2021 held by The Asian Banker on Aug. 3.

The awards are "Best FX Bank in Vietnam" and "Best Financial Derivatives Provider in Vietnam".

According to The Asian Banker's assessment, MB received the awards thanks to its market share and position; its digital transformation process being fast and powerful while its staff being of high-quality and enthusiastic. Foreign exchange trading via MB has always maintained the Top 3 market share, while its interest rate and commodity derivative segments have been considered top choices for many years.

Aware of the intensive competition in the banking industry and foreign exchange and derivatives market, MB has gradually digitized every step of the transaction process, offering customers increasingly automated and efficient methods of transaction.

As for foreign exchange - derivative transactions, MB is the pioneer bank to deploy foreign exchange - derivatives services via its MBBank App for individual customers and Biz MB for corporate customers. MB is also the first bank to launch a Chatbot tool to automatically supply market information as well as FX transactions for corporate clients.

MB’s Board of Managers has further boosted staff training and team building in consideration of the human resource impact.

Nguyen Minh Chau, deputy general director of MB, said: "The two awards recognized the high quality and efficiency that MB foreign exchange services and derivative products provide to clients with the most convenient experiences along both digital and physical channels, with the most competitive solutions."

"The two awards received from The Asian Banker in the foreign exchange and derivatives segments are a worthy recognition for MB's transformation efforts in recent times. This is also one of important premises to help MB continue affirming its leading position in the Vietnamese financial market," she added.

MB was awarded two awards by The Asian Banker, including Best FX Bank in Vietnam and Best Financial Derivatives Provider in Vietnam. Photo by: MB.

MB was awarded two awards by The Asian Banker, including "Best FX Bank in Vietnam" and "Best Financial Derivatives Provider in Vietnam". Photo by MB.

After more than 26 years of development, MB has affirmed its position among the Top 5 commercial banks in Vietnam in terms of business efficiency and safety with pre-tax profit reaching VND10,688 billion while total assets maintained a growth momentum of 20 percent, hitting VND494,982 billion in 2020.

As one of the first banks licensed by the State Bank of Vietnam to provide foreign exchange services and derivative products in Vietnam, MB has built up a client portfolio spanning many segments, using a variety of products to meet the needs for financial risk hedging. With achievements and contributions to the market, MB was also awarded "Best FX Bank in Vietnam" in 2016 and "The Financial Derivatives Provider of the Year in Vietnam" in 2019.

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