Military Joint Stock Bank (MB) ranked 4th in the top 10 Vietnam’s most prestigious commercial banks in 2021. This is a recognition for its proactive response to the pandemic as well as the quick adaptation to the digital transformation wave in the banking sector.
The list of Top 10 Vietnam’s most prestigious commercial banks in 2021 is a result of the independent and objective research of the Vietnam Report Joint Stock Company. The reputation of the assessed banks is based on the result of financial assessment; surveys of customers, banks, finance & banking experts; and communication prestige by means of Media coding method.
According to MB’s representative, the award is of “significant meaning” as it affirms MB’s operational efficiency as well as top position in the banking industry.
The COVID-19 pandemic has made a major impact on the global economy, including Vietnamese market. While many industries face difficulties, banking is considered to have its bright spots in the pandemic time. As for MB, it has been a “golden time” for the bank to accelerate the digital transformation process and enhance customer experience in the digital sphere.
Having integrated multiple bells and whistles into its services, by the end of the first 9 months of 2021, MB boasts nearly 8 millions MBBank app users; in 2021 alone, there have been over 4.5 million new app users and around 60,000 businesses using the BIZ MBBank app. Compared to the end of 2020, the number of MBBank app users has increased by 120 per cent, accounting for 75 per cent of individual customers. The total transactions on MB’s digital channel account for 94 per cent of the number of transactions.
MB has constantly innovated its products, especially digital services, to bring a superior experience for customers. Notably, the bank has implemented branch digitisation by putting MB SmartBank, which synchronises all O2O transactions (Online to Offline and vice versa) into operation, making all transactions much easier. Customers are also allowed to choose a personalised (beautiful) account number, making payment using QR codes, perform international money transfers quickly, etc. on the MBBank app (for individuals) and BIZ MBBank (for businesses).
In addition, MB is also honoured in the top 2 Banking and Financial Services brands at the Vietnamese Strong Brand Award 2020 – 2021 held by VnEconomy, and is in the top 8 public companies in 2021 annouced by Vietnam Report for having proven its adaptability, flexibility, and ability to grow amid the pandemic.