TRƯỜNG ĐẠI HỌC MỞ TP.

HỒ CHÍ MINH

KHOA: ĐÀO TẠO ĐẶC BIỆT

---o0o---

DERIVATIVE INSTRUMENTS WITH FINANCIAL INSTITUTIONS

GV: TS. Phan Quỳnh Trang

Class: CF2203C

Group 4:

Lê Thị Ngọc Diễm – MSSV: 2254030009

Nguyễn Ngô Việt Hà – MSSV: 2254032054

Nguyễn Quỳnh Như – MSSV: 2254030073

Huỳnh Ngọc Thu Tâm – MSSV: 2254032231

Nguyễn Ngọc Trầm – MSSV: 2254030110

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 CONTENTS
Part 1: Overview of Commercial Banks ...........................................3
1.1 Introduction to Vietcombank (VCB) .....................................3
1.2 History of establishment and development..............................3
1.3 Main services provided by the bank ........................................4
1.4 The importance of banks in the economy ................................7
Part 2: Evidence on Derivatives ........................................................9
2.1 Classification of derivative instruments provided by banks ..9
2.2 Show the transaction results extracted from financial
statements ......................................................................................12
Part 3: Regulations on derivative transactions of Vietcombank ..15
3.1 Legal framework for derivatives trading ..............................15
3.2 Risk Management Process ......................................................17
3.3 The impact of regulations on derivative trading activities ...21
REFERENCES ................................................................................23

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Part 1: Overview of Commercial Banks
1.1 Introduction to Vietcombank (VCB)
Bank for Foreign Trade of Vietnam, now Joint Stock Commercial Bank for Foreign
Trade of Vietnam (Vietcombank), was established and officially put into operation on
April 1, 1963, with the predecessor organization being the Department of Foreign
Exchange Administration of China. Central Bank of Vietnam National Bank.

As the first state-owned commercial bank chosen by the Government to pilot

equitization, Vietcombank officially switched to operating as a joint stock commercial
bank on June 2, 2008, after completing into an equitization plan through the initial
public offering of shares. On June 30, 2009, Vietcombank shares (stock code VCB)
were listed on the Ho Chi Minh City Stock Exchange.

After 60 years of construction and development, Vietcombank has made important

contributions to the stability and development of the country's economy, promoting its
role as a key foreign bank, effectively serving the country's economy. domestic
economic development, while creating positive impacts on the regional and global
financial community.

1.2 History of establishment and development

1963: On April 1, 1963, established under the name of the Bank for Foreign Trade of
Vietnam on the basis of separation from the Foreign Exchange Department under the
Central Bank.

1990: Officially transformed the model into a state-owned commercial bank.

2007: Being the pioneer bank in piloting equitization according to the Government's
policy, successfully issuing shares to the public for the first time.

2009: Officially listed shares on the Ho Chi Minh City Stock Exchange.

2011: Signed a strategic shareholder cooperation agreement with Mizuho Corporate

Bank Ltd., (Japan).

2013: Announced the new brand identity system to customers.

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2018: Celebrated the 55th anniversary of establishment, affirming the position of the
No. 1 bank in Vietnam in terms of profit, business efficiency and many aspects of
operation.

Established a subsidiary bank in Laos.

2019: The only Vietnamese enterprise in the list of 1,000 largest listed enterprises
worldwide.

Opened a representative office in New York - USA (according to the approval of the
US Federal Reserve).

2020: The best bank in Vietnam.

Holding the No. 1 position in the banking industry in terms of quality and efficiency of
operations.

Pioneer in implementing the policies of the Government and the State Bank;
effectively support people and businesses affected by Covid-19.

Approved to invest in establishing a branch in Australia (according to the Prime

Minister's approval decision dated August 18, 2020).

1.3 Main services provided by the bank

a. Bank card products

Vietcombank offers a variety of bank cards with many attractive features and
incentives:

• International credit card

• Vietcombank Visa Platinum Card: For high-end customers with many
benefits and priority services.
• Vietcombank Vietnam Airline American Express Credit Card:
Accumulate reward points for customers who frequently fly with
Vietnam Airlines.

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 • Vietcombank American Express Credit Card: Provides special incentives
and dedicated customer care services.
• Vietcombank Visa/Mastercard/Coi Nguon/JCB/UnionPay Credit Card:
Widely accepted globally.
• Saigon Centre – Takashimaya – Vietcombank JCB Co-Branded Credit
Card: Shopping incentives at Saigon Centre and Takashimaya.
• Vietcombank Diamond Plaza Visa Co-Branded International Credit
Card: Serves shopping needs at Diamond Plaza.
• Vietcombank – Vietravel Visa Co-Branded International Credit Card:
Offers for tours organized by Vietravel.

b. International debit card

• Vietcombank Visa Debit Card: Online and international payment.
• Vietcombank Cashback Plush American Express Card: Cashback when
using the card for transactions.
• Vietcombank Connect24 Visa Card: Used for international and domestic
transactions.
• Vietcombank MasterCard Card: Used for daily transactions.
• Vietcombank UnionPay Card: For customers who regularly work with
the Asia region.
• Vietcombank Takashimaya Visa Card: Specially for transactions at
Takashimaya.
• Domestic debit card
• Vietcombank Connect24 Card: Widely used domestically.
• Vietcombank – AEON Co-Branded Card: Enjoy offers when shopping at
AEON.
• Co.opmart Vietcombank Co-Branded Card: Shopping incentives at
Co.opmart.
c. Account and savings products

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Vietcombank offers a variety of savings products, helping customers optimize interest
rates and utilities:

• Deposit accounts
• Non-term savings
• Term savings
• Savings with interest paid later
• Automatic savings
• Remittance accumulation
• Savings with periodic interest payments
• Savings with interest paid in advance
• Online deposits

Vietcombank offers a variety of lending products to meet the needs of individual and
corporate customers:

• Loans secured by valuable papers

• Consumer loans without collateral
• Consumer loans secured by assets
• Loans for project housing
• Loans for home construction and repair
• Loans for real estate purchase
• Loans for car purchase
• Business loans
• Other services
d. In addition to the above products, Vietcombank also provides many other
additional services:
• Remittance services: Transfer and receive money from abroad.
• Insurance services: Providing life and non-life insurance products.
• Investment services: Consulting and providing investment products.
• Transfer - Receive money: Fast domestic and international money
transfer service.

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1.4 The importance of banks in the economy
From a specialized bank serving foreign economic affairs, Vietcombank today has
become a multi-functional bank, operating widely in many fields and providing
customers with a full range of leading financial services in the world. international
trade field. The bank is not only strong in traditional activities such as capital
mobilization, capital trading, credit and project financing but also develops strongly in
modern banking services such as foreign currency trading and other banking
companies. derivatives, card services, electronic banking, online payments, account
management, cash management and personal financial services.

Vietcombank has invested heavily in technology infrastructure, with the successful

transformation of the core banking system in early 2020, marking an important step in
the process of modernization and improving efficiency. work. The new core banking
system allows Vietcombank to perform transactions quickly and accurately, while
creating a solid foundation for applying advanced technology in automating banking
services and developing products. digital banking services. Vietcombank is strongly
developing multi-utility digital banking services, such as VCB Digibank (mobile
banking application), VCB iB@nking (online banking service), VCB CashUp (mobile
payment service). Dynamic), and VCB DigiBiz (electronic banking services for
businesses). These services are and will continue to attract a large number of
customers thanks to their convenience, speed, safety and efficiency, while contributing
to promoting the habit of non-cash payment in Vietnam.

After more than 60 years of operation and development, Vietcombank has become one
of the largest commercial banks in Vietnam, not only in terms of scale but also in
terms of influence in the financial sector. The bank currently has more than 600
branches, transaction offices, representative offices and member units, operating both
domestically and internationally. Specifically, Vietcombank has:

- 1 Head office in Hanoi.

- 121 branches spread across provinces and cities nationwide.

- 510 transaction offices serving individual and business customers nationwide.

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- 4 domestic subsidiaries, including: Vietcombank Financial Leasing Company,
Vietcombank Securities Company, Vietcombank Remittance Company, and
Vietcombank 198 Building Company.

- 3 overseas subsidiaries, including: Vinafico Hong Kong Company (operating in the

field of money transfer), Vietcombank Money Transfer Company in the US, and
Vietcombank Laos.

- 3 representative offices in important international markets: Ho Chi Minh City,

Singapore and America.

- 3 public service units, including: Vietcombank Human Resources Training and

Development School, Cash Processing Centers in Hanoi and City. HCM, along with
joint ventures and affiliated companies.

Regarding human resources, Vietcombank currently has more than 22,500 employees
who are highly trained, highly qualified and capable, meeting increasingly diverse and
complex customer service needs. Vietcombank's ATM network is also growing
strongly with more than 2,500 ATMs and more than 60,000 card payment acceptance
units nationwide, creating convenience for customers in performing transactions.
finance.

In addition, Vietcombank is also supported by a large partner network, with more than
1,163 agent banks in 93 countries and territories around the world. This helps
Vietcombank perform international transactions well, supporting customers in money
transfers, international payments and global financial activities.

With a long history of operations, a team of professional staff, the ability to apply
advanced technology and a widespread network, Vietcombank is always the top choice
of large corporations and businesses, as well as a large number of people. individual
customers. The bank continues to grow strongly and maintain its leading position in
the banking industry in Vietnam, while aiming to become an influential international
bank in the region and the world.

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Part 2: Evidence on Derivatives
2.1 Classification of derivative instruments provided by banks
Vietcombank provides a range of derivative instruments to help clients hedge risks,
optimize financial strategies, and manage fluctuations in exchange rates and interest
rates. Below are the common derivative instruments offered by the bank, along with
their characteristics and applications:

a. Options Contracts

Characteristics:

- An options contract is an agreement between two parties, where the buyer of the
option has the right (but not the obligation) to buy or sell an underlying asset (such as
foreign currency, securities) at a specified price within a certain period.

- Common types of options are call options (the right to buy) and put options (the right
to sell).

Applications:

- Hedging Exchange Rate Risks: Businesses involved in import and export or

international transactions can use options contracts to protect themselves against
unforeseen fluctuations in exchange rates.

- Profit Optimization: Investors can use options to benefit from changes in the value of
the underlying asset without having to fulfill the obligation to buy or sell.

Real-life Example: Vietcombank offers foreign exchange options products to

businesses engaged in international trade, helping them protect the value of contracts
when exchange rates fluctuate.

b. Swaps

Characteristics:

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- A swap is an agreement to exchange cash flows between two parties over a specified
period, under certain conditions, such as swapping fixed interest rates for floating rates
or swapping foreign currencies.

- Common types of swaps include interest rate swaps, currency swaps, and credit
default swaps.

Applications:

- Interest Rate Swaps: Companies can use interest rate swaps to switch from floating to
fixed interest rates (or vice versa) to mitigate the risk of interest rate fluctuations.

- Currency Swaps: Companies operating internationally can use currency swaps to

protect themselves against exchange rate risks when they have foreign currency loans
or receivables.

Real-life Example: Vietcombank provides interest rate and currency swap services for
large businesses, such as import-export companies or companies with international
financial activities, helping them optimize financial costs and hedge against interest
rate fluctuations.

c. Futures Contracts

Characteristics:

- A futures contract is an agreement to buy or sell an underlying asset (such as

currency, commodities, or securities) at a predetermined price at a specified time in the
future. This is a binding contract, unlike an options contract.

- Futures contracts are typically traded on financial exchanges.

Applications:

- Hedging Exchange Rate and Commodity Risks: Businesses can use futures contracts
to protect themselves from fluctuations in exchange rates or commodity prices (such as
crude oil, gold).

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- Speculation and Profit Optimization: Investors can use futures contracts to speculate
on the price movements of the underlying assets.

Real-life Example: While Vietcombank mainly provides over-the-counter (OTC)

derivative products, the bank can also help businesses access futures contracts on
international exchanges to hedge against exchange rate risks or commodity price
fluctuations.

d. Currency Swap

Characteristics:

- A currency swap is a type of swap in which two parties exchange cash flows in
different currencies.

- It operates on the principle of an interest rate swap, but the cash flows are paid in
different currencies (e.g., USD, EUR, JPY).

Applications:

- Hedging Exchange Rate Risks: Suitable for businesses with foreign currency loans or
liabilities. Currency swaps help them convert loans from one currency to another with
stable interest rates.

Real-life Example: Vietcombank can offer currency swap contracts to companies with
international debt, helping them manage costs and exchange rate risks.

e. Forward Contracts

Characteristics:

- Similar to futures contracts, a forward contract is an agreement to buy or sell an

underlying asset at a future date at a price agreed upon today. However, forward
contracts are usually traded through private agreements (OTC) and are not
standardized.

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Application:

- Hedging Exchange Rate Risks: Businesses can use forward contracts to protect
themselves from exchange rate fluctuations when they have future payments or
receipts in foreign currency.

Real-life Example: Vietcombank offers foreign exchange forward contracts to

businesses to hedge against exchange rate risks in international transactions.

2.2 Show the transaction results extracted from financial statements

a. These are the trading results of derivative financial instruments
extracted from the notes to Vietcombank's 2023 financial statements:

Source: Vietcombank's financial report

In general, we can draw some conclusions as follows:

Total value of derivative contracts at 31/12/2023 decreased compared to 2022

The book value of derivative contracts in 2023 is debt, which shows that the enterprise
has payables related to derivative transactions.

About currency swap contracts:

 Contract value: Increased from VND 81,264 billion at the end of 2022 to VND
104,261 billion at the end of 2023, showing that the transaction scale of this
type of contract has increased significantly.

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  Book value: There is a change from VND 169 billion in receivables at the end
of 2022 to VND 22 billion in payables at the end of 2023, reflecting a change in
the company's position on currency swap contracts, possibly due to the impact
of exchange rate fluctuations or adjustments to business strategies.

About currency forward contracts:

 Contract value: Decreased sharply from VND 22,250 billion at the end of 2022
to -15,004 billion at the end of 2023, showing that the enterprise has reduced
the scale of transactions of this type of contract or switched to a selling
position.

 Book value: Also decreased from receivables of VND 13,184 billion to

payables of VND 95,145 billion, showing that the enterprise's position in
currency forward contracts has changed from advantageous to disadvantageous.

b. Comparison with other banks

Source: MB Bank's financial report

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 Source: Techcombank's financial report

 Transaction size: Vietcombank has a total derivative contract value smaller

than Techcombank (VND 371,999 billion) and MB Bank (VND 270,852
billion)

 Book value: Vietcombank recorded a negative book value (-117,752 billion

VND), showing the potential risk in the derivatives portfolio. Meanwhile, MB
Bank and Techcombank had positive book value, especially Techcombank with
the highest level.

 Contract types: All three banks conduct derivative transactions involving

currency forwards and swaps, but Techcombank also conducts interest rate
swaps, indicating a higher level of diversification in its portfolio.

Although the scale and level of diversification have not reached Techcombank's level,
Vietcombank is still taking measures to improve and optimize derivatives trading
activities in the coming time.

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Part 3: Regulations on derivative transactions of Vietcombank
3.1 Legal framework for derivatives trading
Derivatives trading at Vietcombank is subject to strict compliance with
Vietnamese law and the bank's internal regulations. Some general regulations
include:

 Clients: Only clients with sufficient financial capacity and a thorough

understanding of derivative products are permitted to engage in trading.

 Margin: Clients are required to deposit a certain amount of margin as collateral

to ensure the fulfillment of their contractual obligations.

 Risk: The bank must provide comprehensive disclosures to clients regarding

the risks associated with derivative products prior to any transaction.

 Reporting: Clients are obligated to report all relevant information pertaining to

their derivative transactions to the bank.

Some key regulations of the State Bank of Vietnam (SBV) regarding derivatives
trading include:

 Licensing: Credit institutions wishing to offer derivative products must obtain a

license from the SBV.

 Clients: Only clients with sufficient financial capacity and a thorough

understanding of derivative products are permitted to engage in trading.

 Margin: Clients are required to deposit a certain amount of margin as collateral

to ensure the fulfillment of their contractual obligations.

 Risk management: Credit institutions must establish and implement a robust

risk management framework, including risk limits, controls, and monitoring
procedures.

 Reporting: Credit institutions must submit periodic reports to the SBV on their
derivative trading activities.

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  Disclosure: Credit institutions must disclose information about derivative
products in a clear and transparent manner for clients to understand.

Circular 01/2015/TT-NHNN

 Main content: This circular provides detailed regulations governing the

business activities and supply of interest rate derivative products by commercial
banks and foreign bank branches operating in Vietnam.

 Covered issues: The circular addresses various aspects, including business

conditions, risk management, reporting requirements, and information
disclosure.

For further reference, please see this document.

Circular 01/2015/TT-NHNN

Article 4. Principles of business activities and supply of interest rate derivative

products

1. Business activities and supply of interest rate derivative products by

commercial banks shall be conducted in accordance with agreements among the
parties involved in entering into and performing interest rate derivative
contracts, and in compliance with this Circular and relevant laws.

2. Commercial banks may only engage in business activities and supply interest
rate derivative products when: a) They have obtained approval from the State
Bank of Vietnam for business activities and supply of interest rate derivative
products as specified in their establishment and operation license or in a
separate document as prescribed by law; b) They have issued internal
regulations on business activities and supply of interest rate derivative products,
which comply with this Circular and relevant laws, and ensure a mechanism for
internal control, auditing, and risk management for business activities and
supply of interest rate derivative products.

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 3. Commercial banks and foreign bank branches conducting business activities
and supplying interest rate derivative products related to foreign exchange must
comply with Vietnamese law on foreign exchange.

4. Commercial banks and foreign bank branches conducting business in interest

rate derivative products on the international market must comply with
Vietnamese law on operations and foreign exchange on the international
market.

5. Credit institutions and foreign bank branches may use interest rate derivative
products supplied by commercial banks and foreign bank branches on the
domestic market as legal entities in accordance with this Circular and relevant
laws.

Circular 25/2021/TT-NHNN

 Main content: This Circular amends and supplements certain provisions of

Circular 01/2015/TT-NHNN, aiming to update and enhance the legal
framework governing the business activities of interest rate derivative products.

Other circulars:

Circular 40/2016/TT-NHNN: This Circular provides regulations on the provision of

commodity price derivative products.

3.2 Risk Management Process

a. Risk Control Measures in Derivatives Trading

In terms of organizational structure, Vietcombank regularly reviews and enhances its

risk management framework in accordance with the three lines of defense principle:

The first line of defense is responsible for identifying, controlling, and mitigating
risks.

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 - The second line of defense is responsible for developing risk management
policies, internal regulations on risk governance, measuring, monitoring risks,
and ensuring compliance with legal regulations.
- The third line of defense is responsible for internal auditing.

Risk Control Measures in Derivatives Trading

To control risks in derivatives trading, Vietcombank implements the following

measures:

 Risk limits: Setting risk limits for each type of derivative product and for each
client.

 Margin: Requiring clients to deposit margin as collateral to ensure the

fulfillment of payment obligations.

 Position monitoring: Closely monitoring clients' trading positions to identify

and address potential risks in a timely manner.

 Portfolio diversification: Diversifying investments across various derivative

products to reduce concentration risk.

 Using derivatives to hedge risk: Utilizing derivative products to hedge against

other risks, such as foreign exchange rate risk and interest rate risk.

 Employee training: Organizing training courses to enhance employees'

expertise in derivative products and risk management.

Vietcombank's market risk management framework is a comprehensive integration of

organizational structure, policies, procedures, models, limits, and market risk reports,
built in accordance with international best practices. Market risk management is
implemented in detail for each business unit and transaction, based on the
identification of specific risk profiles and Vietcombank's overall risk appetite. Based
on this synchronized market risk management framework, Vietcombank can
proactively prevent risks and mitigate the impacts of market fluctuations.

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Vietcombank has established a comprehensive liquidity risk management framework,
including models, governance structure, policy documents, procedures, regulations,
and comprehensive limits to identify, measure, monitor, and report risks in accordance
with international practices and advanced Basel II standards, while strictly complying
with the State Bank's regulations on capital adequacy and liquidity in banking
operations. Liquidity risk management regulations, procedures, limits, and tools are
reviewed and updated annually to promptly amend and meet the requirements of the
regulatory authorities and the actual implementation within the bank.

In addition to closely monitoring and controlling liquidity risks on a daily basis in

2021, Vietcombank continued to monitor and assess the impact of the Covid-19
pandemic on liquidity and tested contingency liquidity plans in early 2022.
Furthermore, Vietcombank has also focused significant resources on investing in the
ALM/FTP system to automate management reporting, meeting international best
practices in liquidity risk management. Simultaneously, Vietcombank has initiated
research, calculation, and assessment of the applicability of advanced liquidity risk
ratios under Basel III such as LCR, NFSR. In 2022, the bank's liquidity remained safe.
In 2022, Vietcombank continued to review and periodically update policies,
procedures, and risk measurement methodologies, while also completing the upgrade
of the market risk measurement and management system to enhance automation, best
meet the regulations of the State Bank, and closely follow international practices.

b. Internal reporting and monitoring mechanism

Reporting mechanism:
- Financial reports:
Prepare monthly, quarterly, and annual financial reports including income
statements, balance sheets, and cash flow statements, presented to the board of
directors and relevant departments to assess financial performance and support
strategic decision-making.
- Risk management reports:
Departments are responsible for preparing periodic reports on financial risk,

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 market risk, operational risk, and legal risk, and assist management in assessing
the current level of risk and proposing appropriate preventive measures.
- Internal audit report:
The internal audit team conducts regular audits to ensure that the bank's
processes and activities comply with regulations. The audit reports are
presented to senior management for review and action when necessary.
- Legal compliance report:
This report ensures compliance with legal regulations and requirements of
regulatory authorities, including transaction activities and tax reporting.
- Business performance report:
Analyze profits, costs, revenues, and other key performance indicators to assess
the business operations of each unit within the bank.

Internal supervision

- Internal audit:
Conduct periodic and ad-hoc audits to evaluate the effectiveness of the internal
control system, detect and prevent risks, errors, and fraud.
- Risk management:
A comprehensive risk management system helps identify, assess, control, and
monitor risks related to the bank's business operations.
- Compliance Reporting:
The compliance reporting system to monitor and supervise adherence to legal
regulations and internal standards at business units.
- Activity evaluation:
Evaluate the performance and operational efficiency of departments and
business units through key performance indicators. (KPIs).
- Automated monitoring system:
Apply technology and an automated monitoring system to track transactions
and unusual activities, providing timely alerts for suspicious behaviors or
regulatory violations.

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 - Training and raising awareness:
Regularly organize training courses and awareness programs on internal control
and risk management for employees.
=> The internal reporting and monitoring mechanism of Vietcombank not only
helps maintain transparent and efficient operations but also ensures compliance
with regulations, protects customer interests, and enhances the bank's
reputation.

3.3 The impact of regulations on derivative trading activities

a. Positive and negative impacts on banks

On the positive side

Regulations help manage risks effectively by requiring banks and investors to
use derivatives in a systematic and controlled manner. This helps mitigate risks
related to market fluctuations such as interest rates, exchange rates, and
commodity prices, protecting assets and stabilizing business operations.
Regulations also enhance transparency and compliance by requiring
participants to report transparently and adhere to international standards,
thereby increasing the reliability and stability of the financial market. Helps
build investor trust and reduce the risk of fraudulent activities.
Additionally, regulations protect investors by setting standards to shield them
from the risk of fraud or unfair trading practices, especially for retail investors.
This encourages them to participate more in the market, contributing to
sustainable development.

On the negative side

First is the high compliance cost, as banks have to invest heavily in internal
control systems, audits, and reporting to meet stringent regulations, which
reduces profitability and operational efficiency, especially for small and
medium-sized financial institutions.
Strict regulations can also limit creativity and flexibility in developing new
derivative products, making it more difficult for banks to meet the diverse

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needs of the market. This rigidity can slow down the innovation process and
reduce competitiveness.
The complexity of regulations can also make it difficult to understand and
comply, especially for retail investors or new entrants to the market. This can
lead to a decrease in the attractiveness and liquidity of the derivatives market,
making investors hesitant to participate.
Finally, some regulations may reduce the liquidity of the derivatives market by
restricting trading or increasing transaction costs, making buying and selling
more difficult. This could lead to a less dynamic market and reduce the
effectiveness of derivative instruments.
Thus, regulations on derivative transactions play an important role in protecting
the financial system and market participants, but they also need to be
considered and adjusted appropriately to optimize benefits and minimize
negative impacts.
Recently, Vietcombank has focused on innovating human resource
management with many positive changes, contributing to the success in
business operations as well as in management governance. The scale,
productivity, and quality of labor at Vietcombank have been continuously
increasing.

b. Changes in business strategy

With the motto of action "Transformation - Efficiency - Sustainability" and the

guiding management perspective "Responsibility - Determination - Creativity,"
in the first six months of 2022, the entire Vietcombank system has made
concerted efforts and achieved very promising business results. The scale of
business has grown well, credit quality has been tightly controlled, business
results have met the schedule, and new records continue to be set.
Vietcombank, one of the leading banks in Vietnam, has been and is making
significant changes in its business strategy to adapt to market trends and the
increasing demands of customers. One of the notable points is the strong focus
on digital financial services (Fintech), with the launch of many advanced

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 applications and online services aimed at enhancing customer experience and
increasing convenience for users. The bank is also expanding its network of
branches and transaction points, particularly targeting rural and remote areas, in
order to bring financial services closer to all segments of the population.
In addition, Vietcombank focuses on enhancing service quality through
employee training, improving work processes, and applying new technology to
reduce transaction processing time and improve customer service efficiency. At
the same time, the bank is seeking opportunities to diversify its income sources,
not only relying on traditional credit activities but also expanding into areas
such as insurance, investment advisory services, and asset management.
All these changes reflect Vietcombank's efforts to maintain its leading position
in the Vietnamese financial market, while also better meeting customer needs
and adapting to market fluctuations. This not only contributes to enhancing the
bank's reputation but also supports the sustainable development of the national
financial system.
Especially, it is necessary to focus on accelerating the implementation of the
digital transformation action program, ensuring timely and quality execution of
transformation projects, capacity enhancement projects, organizational
restructuring, and the completion of the system of documents, processes, and
policies to continue improving operational efficiency and gradually achieving
the goals according to the roadmap.

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niên 2023. Truy cập từ

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nhánh ngân hàng nước ngoài. Thư viện Pháp luật. Truy cập ngày 21 tháng 11 năm
2024, từ https://thuvienphapluat.vn/van-ban/Tien-te-Ngan-hang/Thong-tu-01-
2015-TT-NHNN-kinh-doanh-cung-ung-san-pham-phai-sinh-lai-suat-ngan-
hang-thuong-mai-chi-nhanh-nuoc-ngoai-262518.aspx
9 Ngân hàng TMCP Ngoại thương Việt Nam. (n.d.). Báo cáo nhà đầu tư. Truy cập
ngày 21 tháng 11 năm 2024, từ
https://portal.vietcombank.com.vn/Investors/Pages/chi-tiet-nha-dau-
tu.aspx?ItemID=1086&devicechannel=default
10 Tạp chí Tài chính. (n.d.). Tác động của cách mạng công nghiệp 4.0 đến
ngành ngân hàng và mục tiêu của Vietcombank. Truy cập ngày 21 tháng 11
năm 2024, từ https://tapchitaichinh.vn/tac-dong-cua-cach-mang-cong-
nghiep-4-0-den-nganh-ngan-hang-va-muc-tieu-cua-vietcombank.html
11 Ngân hàng TMCP Ngoại thương Việt Nam (Vietcombank). (n.d.). Bài viết
từ trang thông tin của Vietcombank. Truy cập ngày 21 tháng 11 năm 2024, từ
https://portal.vietcombank.com.vn/News/newsevent/Pages/Vietcombank.aspx
?ItemID=11320

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