Saturday, 20 April 2024

VietinBank has been recognised as the Best SME Bank in Vietnam in 2024

5 min read

VietinBank has been recognised as the Best SME Bank in Vietnam in 2024, reflecting its comprehensive and strategic approach towards supporting the SME sector. Key to its success is the bank's effective credit activities, offering low capital mobilization costs and diverse, solution-oriented products that aid SMEs during challenging times. Moreover, its commitment to digital transformation, evident through the upgrade of its eFAST platform and introduction of digital solutions for client groups, has significantly improved service quality and efficiency.

Noteworthy is VietinBank's environmental, social, and governance (ESG) initiatives, aimed at fostering sustainable development among businesses. Alongside, the bank's innovative marketing strategies have enhanced customer relationships, contributing to a considerable growth in its SME balance sheet by 16% year-on-year in 2023 to over VND 353 trillion ($14.4 billion). 

In 2023, VietinBank achieved notable customer outreach advancements, leveraging public data from the National Information Portal for efficient customer allocation and engagement, resulting in a substantial growth in new clients and CASA. The bank also excelled in digital banking by streamlining processes like guarantee issuance and disbursement, leading to improved customer experiences. These efforts have resulted in VietinBank recording a double digit increase in new credit customers and significant growth in its corporate customer division, underscoring its leading position in Vietnam's SME banking sector.

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