INTRODUCE SACOMBANK
The process of formation and development
Saigon Thuong Tin Commercial Joint Stock Bank, commonly referred to as Sacombank, was founded on December 5, 1991, in Ho Chi Minh City Today, Sacombank ranks among the top ten largest and most reputable banks in Vietnam.
Full name : Ngân hàng thương mại cổ phần Sài gòn Thương Tín.
International name : Saigon Thuong Tin Commercial Joint Stock Bank.
Headquarter : 266 - 268 Nam Kỳ Khởi Nghĩa, Ward 8, District 3, HCM City.
Hotline : 1900 5555 88 (Customer care call center).
Website : www.sacombank.com.vn
Sacombank was founded during a transformative period in Vietnam, marked by the implementation of comprehensive reforms following the VI Party Congress Since 1986, the country has experienced significant economic shifts, moving away from central planning towards a socialist-oriented market economy, all while progressively integrating into the global market under government oversight.
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For the banking industry, within only 7 years from 1990 to 1996, the State
The bank has introduced innovative solutions, including a positive interest rate policy and a combination of indirect and direct monetary policy tools Additionally, the establishment of a currency market has fostered a collaborative business environment, promoting cooperation and development among banks.
The enhancement of human resources, ongoing training, and the integration of new technological tools have modernized banking systems, ensuring their smooth operation This expansion of credit capital across all economic sectors has led to an impressive average growth rate of 36% per year, significantly contributing to economic restructuring towards industrialization and modernization Consequently, the emergence of new banks like Sacombank has aligned with this economic growth wave, presenting substantial opportunities for future development.
The recent period marked a renewed and strengthened cooperative relationship between Vietnam and key international monetary and financial institutions such as the IMF, World Bank, and ADB This development created an ideal environment for the emergence of banks aimed at harnessing international cash flows and adapting to global economic trends.
In Ho Chi Minh City, the cooperatives no longer unified, one by one disbanded.
Faced with this situation; three cooperatives including Lu Gia, Thanh Cong, and Go
Vap merged with Go Vap Economic Development Bank and the result was the birth of Sacombank.
Sacombank's nearly 30-year journey has been marked by significant achievements and challenges, providing valuable lessons that contribute to its growth These experiences serve as a foundation for Sacombank's continued improvement and strength in both the domestic and regional markets.
TIEU LUAN MOI download : skknchat@gmail.com a From 1991 to 1999
Officially put into operation on December 21, 1991 with a starting capital of
VND 3 billion, the network operated mainly in the suburban districts of Ho Chi
Minh city, the business scope was monotonous Sacombank made the right decisions, creating good conditions for development in the following stages In 1993,
Sacombank has officially opened a branch in Hanoi, marking a significant milestone as the first commercial joint stock bank from Ho Chi Minh City to establish a presence in the capital This new branch will also provide promissory notes and facilitate rapid money transfer services, enhancing financial accessibility for customers in the region.
Hanoi to Ho Chi Minh City and vice versa contributed to overcoming the use of cash between the two largest economic centers in the country.
A significant transformation occurred with the Bank's adoption of a comprehensive reform policy focused on the management board and human resources, aligning with an advanced managerial model that introduced modern changes.
The stage of starting a business also brought Sacombank a series of difficulties.
With the government's new policy setting the minimum capitalization requirement for Urban Banks at VND 70 billion, Sacombank faced significant challenges, as its charter capital was only about VND 47.5 billion after five years of operation This shortfall not only posed a regulatory hurdle but also compounded the bank's existing issue of high overdue loans, necessitating urgent solutions from the entire management team.
Challenge after challenge However, Sacombank was the first bank in Vietnam to offer initial shares to the public in 1996 At the price of 200,000 VND/share,
Saigon Thuong Tin Bank raised its market capitalization to VND 71 billion.
TIEU LUAN MOI download : skknchat@gmail.com b From 1999 to 2001
Sacombank is at the forefront of a new initiative focused on capital issues, consistently seeking solutions to emerging challenges while also tapping into the potential opportunities within this market.
To expand the market, Sacombank received capital contributions from foreign organizations Dragon Financial Holding (UK) contributed 10% This solution raised the bank's capitalization from VND 71 billion to VND 190 billion.
Sacombank has significantly expanded its scale by not only increasing its charter capital but also establishing numerous new branches across the country This growth has enhanced its market share while fostering collaboration with foreign organizations.
Specifically, Sacombank expanded its network to more than 20 provinces and key economic regions, established relationships with more than 80 branches of foreign banks around the world. c From 2001 to 2006
During this period, Sacombank not only met but surpassed its economic indicators and development goals, largely due to capital contributions from three foreign shareholders who are established financial and banking institutions This influx of investment provided Sacombank with access to advanced technology and modern management practices, positioning the bank to effectively integrate into the global economy.
Over the past 14 years, Sai Gon Thuong Tin Bank has successfully established a joint venture model by contributing capital to create a joint venture fund management company, an insurance company, and a securities company As a result, it has become one of the largest joint-stock commercial banks in Vietnam, with its charter capital growing significantly from VND 190 billion in 2001 to VND 1,900 billion by March 2006.
Branches spread from North to South with over 100 transaction points, building a staff of 2,659 people, relationships with 6,700 agencies belonging to 200 banks in 80 countries around the world.
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REPORT ASSIGNMENT 8 d From 2006 to until now
This is a period of strong development, the basic difficulties have been solved.
The market size continues to expand, more and more branches are established.
Relationships with credit institutions and banks around the world create favorable motivation in global cooperation.
Regarding the stock market, Sacombank was the pioneer bank to list shares on the Ho Chi Minh Stock Exchange (HoSE) with a total listed capital of VND 1,900 billion VND.
Starting to establish subsidiary companies, such as Sacombank-SBR
Remittance Company, Sacombank-SBL Financial Leasing Company, Sacombank-
SBS Securities Company Expanding more fields such as jewelry business –
In network expansion activities in Indochina, Sacombank was still the leading bank when it opened a branch in Laos In June 2009, opened a branch in Phnom
Penh This activity contributed to promoting the economic trade of enterprises of the three countries.
As of March 31, 2021, the Bank's charter capital reached VND 18 852 157 million Sacombank issued 1,885,215,716 ordinary shares, with par value of VND
10,000 As for the operation network, the Bank had 1 headquarter, 109 branches and
443 transaction offices in provinces and cities across the country.
Development orientation
Always putting customers at the center, customer satisfaction is what
Sacombank has consistently pursued its objectives, achieving steady growth over the past 30 years and establishing itself as one of the most reputable banks in Vietnam.
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The Bank aims to establish itself as a leading modern retail and multi-purpose financial institution, not only within the country but also across the Indochina region, driven by its ambition to achieve significant growth and expansion.
Sacombank, initially a modestly capitalized bank, has ambitiously expanded its presence across Vietnam and the region Today, it boasts a network that spans all provinces in the country, along with branches established in Laos and Cambodia This growth aligns with the strategic vision outlined in the Bank's development plan.
The Bank has also succeeded with subsidiary companies operating in many different fields such as asset management, jewelry, A multi-functional bank is increasingly affirmed.
The Bank's vision serves as a guiding principle for all employees, fostering collaboration and a unified effort to strengthen the institution Both staff and leadership consistently adhere to the Bank's policies and strategies, ensuring alignment with its overarching vision.
Sacombank is dedicated to delivering optimal benefits to its customers through comprehensive products and services The bank focuses on continuous innovation, addressing weaknesses, and enhancing strengths to establish itself as a trustworthy partner for both individuals and businesses A key priority is the development of a highly skilled workforce, supported by robust human resource policies Additionally, Sacombank emphasizes its commitment to community and socially responsible initiatives.
The following are the 4 missions that the Bank always aims to:
- Optimizing full-service, modern and multi-utility financial solutions for customers.
- Maximize added value for partners, investors and shareholders.
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- Bring career value and prosperity to employees.
- Accompanying the common development of the community and society.
To bring customers to the Bank, Sacombank has introduced a system of core values to attract attention and affirm trust and credibility when customers use banking services:
- Pioneers open the path and boldly face challenges to continue the success.
- Innovative and dynamic for sustainable development.
- Commitment to quality is the principle of conduct of each member in customer service and partnership.
- Making a difference with innovative breakthroughs in business and executive management.
The values that the Bank builds are customers, employees, and investors and responsibility in society to the community. aimed at maximizing the value for demonstrating the highest sense of
Organizational structure
As a large bank in the country, in order to maintain and organize activities accurately, quickly and promptly, Sacombank must develop a reasonable, specific and specialized organizational chart.
In general assessment of Sacombank's organizational chart, the Bank is organized in a vertical functional structure.
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- Administration and control apparatus At the head of the Bank is the General
- Managerial apparatus Headed by General Director is responsible for 10 departments.
Below is the administration model and managerial structure of the Bank:
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ENVIRONMENTAL ANALYSIS
External environment
The General environment, also known as the macro environment, has affected Saigon Thuong Tin Commercial Joint Stock Bank in 6 factors: Technological,
Natural, Sociocultural, Economic, Legal - Political and International.
These factors have had a direct and long-term impact on the Bank's current business activities and potential for future development. a Technological
The rise of Industry 4.0 is driving significant advancements across various sectors, including banking With the increasing adoption of cutting-edge technology and high-precision algorithms, efficiency and productivity are enhanced Sacombank is committed to embracing digital transformation, aiming to deliver exceptional experiences and services, particularly for corporate clients.
With previous plans, Sacombank quickly implemented many solutions, taking technology as a bridge between customers and the Bank Since March 2008, the
Bank has built and successfully established to put into operation the most modern data center in the region to ensure the absolute safety of the backup data information system.
Sacombank, along with various other banks, is implementing Core Banking Technology, which encompasses essential banking modules like deposits, loans, and customer management This system enables banks to enhance their service offerings, develop new products, and improve internal management efficiency.
In April 2012, Sacombank successfully upgraded its Core Banking System from version R8 to the more advanced R11 Previously, banks that relied on outdated core systems faced fragmented customer management processes, highlighting the importance of modernizing technology for improved efficiency and service delivery.
The traditional banking system has posed significant inconveniences for customers, requiring them to visit specific locations to send money and limiting their ability to trade across multiple points due to the necessity of opening separate accounts for each transaction However, the introduction of modern core banking has revolutionized this process, allowing customers to conduct transactions using a single code across various products and services, both within and outside the system This advancement has enabled Sacombank to enhance its management capabilities, diversify its offerings, and strengthen its competitiveness in the market.
Since 2010, Sacombank has embraced technology, establishing modern transaction channels and customer service centers through digital innovations Notably, it was the first bank to implement these advancements, leading to significant improvements in its services.
Vietnam to issue and accept EMV standard cards on all POS and ATMs in 2015.
After 2 years, successfully upgraded and issued the first contactless payment card in the market and deploying QR code payment method according to the global EMV standard Sacombank Pay financial management application on smartphones was also born after only 1 year.
In 2020, Sacombank introduced an innovative online authentication feature known as eKYC, streamlining the process for users of Sacombank Pay This advancement, combined with the NFC capability, allows smartphones to function as virtual cards for Touch payments Additionally, the Tap to Phone service enables merchants to transform their smartphones into NFC POS machines, facilitating seamless touch payments for customers.
The Bank has introduced a variety of non-cash payment services, including electronic tax payments, electronic invoices, and both domestic and international money transfers Additionally, it offers payment solutions for public services such as electricity, water, telecommunications, and tuition fees through electronic channels To further assist businesses, the Bank provides collection and payment services, cash flow management, and COD payment options, facilitating seamless payment acceptance.
TIEU LUAN MOI download : skknchat@gmail.com such as QR, card, mobile app or cash without managing staff who collect cash, save costs and limit risks.
During the Covid-19 pandemic continues to spread around the world.
Due to the inability to visit banks in person, Sacombank has leveraged a robust digital technology foundation to simplify financial transactions such as money transfers and capital borrowing Customers can conveniently use Sacombank's applications for their banking needs, minimizing human contact and reducing the risk of infection Additionally, the bank facilitates online meetings via platforms like Microsoft Teams and Zoom, allowing employees and management to communicate effectively while implementing distance learning initiatives.
2019, but amid the current pandemic, these forms have only been widely applied In
2019, Sacombank marked a great development in technology, a series of tools were integrated with information technology, application of artificial intelligence
(chatbot), robotics technology (RPA), upgraded core bank T24 to R17.
In 2020, Sacombank became the first bank in Vietnam to successfully transition to online shareholder meetings and electronic voting This year also marked the launch of Sacombank's Network Security Operations Center, which operates in accordance with international standards.
Sacombank has effectively embraced the trend of digitization by timely implementing advanced technology Despite ongoing challenges, the bank's enhanced problem-solving capabilities, fueled by this technology, contribute to its continuous growth and strength in the financial sector.
In recent years, global climate change has become more and more acute, a series of natural disasters, if they happen, are a real concern for the operation of
The banking industry, including Sacombank, is significantly influenced by economic activities and various tangible impacts caused by natural factors For more insights, you can download the TIEU LUAN MOI at skknchat@gmail.com.
Specifically, economic activities were blocked due to natural disasters, currency conversion was stopped between parties, causing financial intermediaries such as
Sacombank to fail to achieve the set targets, trading activities encountered many difficulties, banking transactions are therefore also affected.
Recent floods and prolonged heat in the central region have significantly degraded infrastructure quality, prompting Sacombank to allocate additional funds for the repair and refurbishment of its branches and transaction offices.
Environmental quality in major cities like Hanoi and Ho Chi Minh City is deteriorating, with severe air pollution posing health risks to bank employees This pollution can lead to illnesses and temporary resignations, which, while not drastically affecting overall operations, does hinder the bank's productivity and progress.
Especially in the context that Vietnam and the world are straining to fight the
The Covid pandemic has severely affected banks in Vietnam, including Sacombank, leading to a stagnant economy after three outbreaks Many businesses, particularly in sectors like restaurants and hotels, faced operational limitations or bankruptcy, resulting in significant losses for banks due to unpaid loans The quality of bank assets declined, with a notable increase in bad debts In response, banks lowered interest rates and waived some service fees to support struggling businesses during and after the pandemic, which further diminished their assets Additionally, banks have been compelled to reassess their customer portfolios to address potential issues with clients who may have lost credibility.
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Internal environment
Corporate culture is a critical asset for any business, often referred to as the soul of the organization, alongside tangible and intangible assets In today's volatile economic landscape, it is essential for enterprises to establish a distinct and modern cultural environment from the outset The intense competition in the market compels businesses to develop a comprehensive cultural framework This is particularly true for the banking industry, which must cultivate a specific cultural environment that guides employee behavior and fosters growth Ultimately, corporate culture not only influences the bank's operational methods but also contributes to its unique identity.
1.2.2.1 Concept of the corporate culture
Corporate culture encompasses the shared values, beliefs, and practices within an organization, shaping how employees think, communicate, and behave It serves as the underlying personality of the business, playing a vital role in determining its long-term success or failure.
Enterprises need to build a solid corporate culture environment If any business has not built or has a weak cultural environment, the business cannot survive and develop in the future.
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1.2.2.2 Corporate culture models at Sacombank a Bank identification system
Sacombank, a leading and reputable bank in Vietnam, has cultivated a loyal customer base over nearly 30 years of development Its distinctive identity system, highlighted by its emblematic logo, reflects the core values that set the bank apart and contribute to its appeal.
- The symbol of the old logo
Figure 1-3 Old logo of Sacombank
The Bank's logo features a square with a golden border, rotated at a 45-degree angle and rounded edges Within this design, two letters "S" and "G" are intertwined to create a circular block, symbolizing fortune and prosperity This cube also signifies wealth, reflecting Sacombank's significant role in society.
The stylized combination of the two Ts seamlessly supports the circular block above, fostering a cohesive and robust design This harmonious arrangement evokes a sense of growth and development for viewers.
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The text of Sacombank in blue tone creates a pleasant, comfortable and sympathetic feeling for the viewer Especially a thin yellow dash below shows sophistication and reliability for the logo.
The two colors shown in Sacombank's logo include blue and yellow The two tones are interwoven and interlocked, although each color has a special meaning:
- The green color represents the belief, hope, and strength of solidarity for the common development of Sacombank.
- Yellow symbolizes prosperity, fullness and keeping the faith.
This is the message that Sacombank logo conveys through its brand identity design.
A thoughtfully crafted logo design encapsulates the bank's core values, vision, mission, and development goals, fostering credibility and trust among customers This brand identity kit bridges the gap between the bank and its clientele, effectively communicating the institution's commitment to its stakeholders.
Sacombank is a close friend accompanying customers as the bank's slogan has affirmed: "Đồng hành cùng phát triển" (Accompanying development)
- The symbol of the current logo
Figure 1-4 The symbol of the current logo
The Bank's current logo has undergone a significant transformation, moving away from the previous square design to a streamlined blue emblem This blue color symbolizes the sea and the sky, reflecting a sense of openness and trust.
Download TIEU LUAN MOI at skknchat@gmail.com, showcasing a commitment to significant growth and development Sacombank's logo symbolizes reliability and sustainability, reinforcing trust with its customers.
Under the Bank's name, there are the words "Đồng hành cùng phát triển"
(Accompany development) showing thoughtfulness, always aiming for future development goals Always connect customers with the bank together, creating a high trust for customers.
Sacombank's logo represents the purpose of operation, brand strength and the messages and commitments that the Bank wants to convey to customers.
The text of Sacombank is blue, creating a pleasant and easy-to-see feeling, so it is easy to create sympathy.
Sacombank's logo features a sophisticated design that embodies the bank's mission and long-term development vision, aiming to deliver exceptional value to its customers This logo signifies trust, honesty, and transparency, reflecting the core values of Sacombank Additionally, the bank's uniform complements its professional image, reinforcing its commitment to quality service and customer satisfaction.
The uniforms worn by employees embody the youthful spirit that the Bank strives to project This vibrant energy enables the staff to wholeheartedly serve customers while fostering a strong image and trust Despite their simple design, these uniforms play a crucial role in reflecting the Bank's commitment to excellence in customer service.
Sacombank's uniforms are highly appreciated by customers for their aesthetic appeal and ability to create a positive impression The uniform collection features two types: T-shirts and formal shirts, both characterized by their elegant design, style, and color.
The new logo for Sacombank has inspired the design of their uniform t-shirts, featuring a vibrant blue and yellow color scheme Each shirt prominently displays the Sacombank logo along with the bank's name and slogan, creating a cohesive and professional appearance.
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Uniforms embody sophistication in design, offering peace of mind, prestige, and top-quality service to customers Additionally, they promote Sacombank's mission of "Accompanying development."
The long-sleeve shirt uniform model exudes elegance and professionalism, making it an ideal choice for employees Women can enhance their look by pairing it with a black skirt for a stylish accent, while men can opt for trousers to complete the polished appearance Additionally, Sacombank provides vests to further elevate the uniform's sophistication and cohesion.
T-shirt uniform model: Besides the uniform shirt used mainly for transactions at Sacombank, the uniform t-shirt is used by the bank for other activities The short- sleeved T-shirt model creates a strong and youthful feeling of the bank Wearing T- shirts, employees feel active and comfortable participating in activities.
ABOUT MANAGER NGUYEN DUC THACH DIEM
WORKING ANALYSIS AT SACOMBANK
2.2.1 Role in leading the bank in the right direction
It has been 3 years since taking the position of General Director of Saigon
Thuong Tin Commercial Joint Stock Bank, female CEO of Sacombank – Nguyen
Duc Thach Diem has successfully navigated the bank out of challenging times, restoring its former stature This transformation is attributed to a holistic approach in managing operations and fostering strong internal cultural relationships among employees.
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Diem has well and accurately implemented the business philosophy, mission and values of the Bank.
Although she is not the one to build the framework of the Bank's business philosophy, missions and values, since she took the position of General Director of
Sacombank, those frameworks have been applied and developed by her parallel with the process of restructuring the Bank and solving other problems.
Specifically, Ms Diem always takes the Bank's core values and missions as a premise:
- Optimizing all-inclusive, modern and multi-utility financial solutions for customers.
- Maximizing added value for partners, investors and shareholders.
- Bringing career values and prosperity to employees.
- Accompanying the common development of the social community.
Partners, investors, and shareholders are urging for dividend distribution due to the stagnant growth of Sacombank's share value compared to other banks Currently, Sacombank is unable to issue dividends as it awaits approval from the State Bank Once this approval is granted, the bank will be positioned to fulfill these dividend requests.
State Bank, Sacombank will pay dividends.
The primary focus is on satisfying customers while maximizing value for partners, investors, and shareholders Digital technology solutions demonstrate the Bank's commitment to optimizing modern and convenient financial services.
Regarding the staff system, she is one of the people holding the most important position of the Bank In order to satisfy the human resource system, Sacombank's
General Director advocates regularly organizing training sessions and improving the quality of human resources as well as being able to find highly qualified individuals to attend higher positions.
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Ms Diem, in collaboration with the community, spearheads volunteer activities and support projects Notably, from January 18, 2021, to January 2, 2021, Sacombank successfully executed the 18th "Spring Love" project, which involved visiting and donating essential items to those in need.
Thanh Loc 's Center for Nurturing and Sponsoring polio people Besides this program, the Bank also implements many other activities such as blood donation
"Sharing from the heart", Scholarship "Incubating dreams",
Ms Diem's customer-centric approach emphasizes that all products and services at Sacombank should prioritize customer satisfaction To foster trust in the Bank's offerings, she recognized the necessity of establishing a strong reputation To achieve this, she implemented four key solutions focused on enhancing the quality and reliability of Sacombank's products and services.
- Restructuring the organization, rearranging all personnel, improving labor productivity, enhancing connectivity.
- Financial transparency, handling of outstanding assets.
- Breakthrough in communication and brand.
2.2.1.1 Restructuring, re-arranging personnel, increasing productivity
Over 3 years of leading Sacombank, Ms Diem has successfully restructured the Bank, fulfilling the goal of restructuring the Bank after the merger The human resource system is her top focus with welfare policies to retain and attract new employees Training staff to increase professional skills and knowledge to become elite factors contributing to the overall development of the Bank.
The cultural environment has always been emphasized by her for all Sacombank employees A comprehensive cooperation environment, going from the heart, working together, growing together and strengthening connections.
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2.2.1.2 Financial transparency, handling outstanding assets
The serious case during the time when Sacombank merged with Phuong Nam
The involvement of Tram Be, the former Vice Chairman of Sacombank's Board of Directors, led to significant financial losses for the bank, resulting in elevated levels of bad debt and opaque financial statements that undermined investor and customer trust This lingering fallout persisted even after Mrs Diem assumed leadership, alongside Chairman Duong Cong.
Minh and the dedicated team at Sacombank have successfully navigated challenges, ensuring transparency and clarity in their annual reports while effectively addressing outstanding assets As a result, the bank's reputation is on the path to restoration.
When taking over the management of the Bank, the female CEO affirmed that
Sacombank has been at the forefront of digital transformation for several years, pioneering various new digitization systems This proactive approach has established a solid foundation, enabling the bank to devise strategies for upgrading, innovating, and advancing digital technology within its business framework.
In 2017, Sacombank issued the first contactless payment card in the market and deployed the global EMV standard QR payment method; launched financial management application Sacombank Pay on smartphones in 2018.
In 2018, Ms Diem and her professional team successfully digitized outdated forms and procedures that were time-consuming and user-unfriendly This transition to cloud computing established a modern and efficient working environment, leading to the complete digitization of the Bank's sales, customer service, and marketing (CRM) processes.
Besides, it also deploys artificial intelligence and robotics technology In 2019 successfully upgraded the bank with core T24-R17.
In particular, in 2020, Saigon Thuong Tin Joint Stock Commercial Bank is the only bank to successfully convert the form of holding the general meeting of
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REPORT ASSIGNMENT 46 shareholders from the traditional method to the online method and voting electronic.
Also in this year, the goal of building and operating the Cybersecurity Operations
Center according to international standards was initially successful Sacombank has done and succeeded, compared to other banks in Vietnam, this center has not come into operation properly.
2.2.1.4 Breakthrough in communication and brand
Since its inception, Sacombank has prioritized the development of digital banking but has lacked effective communication about its services To enhance awareness, the Bank has partnered with well-known personalities, including actors and singers, to promote its digital banking offerings and improve its public outreach.
Amid the ongoing Covid-19 pandemic, Sacombank has actively contributed to the National Vaccine Fund, demonstrating its commitment to community support This initiative not only aids public health efforts but also strengthens the bank's reputation and fosters closer connections with its customer base.
2.2.2 Perspective in planning and strategy
Ms Diem serves as the General Director of a prominent non-state-owned bank, where she plays a crucial role in strategic planning and development Her leadership is instrumental in guiding Sacombank towards comprehensive growth and success in the financial sector.
Since taking office, Ms Diem has relied on the established business philosophies, mission and core values of the Bank as a springboard for the Bank's development activities.
She identifies planning as the foundation of the Bank's development.
Specifically, Ms Diem has developed clear planning strategies based on:
- Take the business philosophy, mission and core values as the root.
- Analysis of external environmental factors
- Establish a stable internal culture system and comprehensive cooperation.
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- Identify challenges and opportunities from the environment.
Recognizing the critical role of technology in the banking sector, Sacombank has embraced innovative operational processes over the past three years, led by Ms Diem By integrating advanced technology platforms, the bank enhances its competitiveness in today's digital landscape, ensuring that customers enjoy a seamless experience while minimizing service time.
Specifically, Sacombank implemented related diversification by starting the business of products and services with technological elements related to existing products and services at the Bank.
- In 2018, launching Sacombank – Pay, a smart financial application with a modern and friendly user experience; application of leading payment technologies and tradable on a global scale.
- In 2019, successfully upgraded core - banking based on modern technology; help quickly provide products and services on digital channels.
In 2020, Sacombank successfully implemented a Loan Origination System (LOS) solution, streamlining the credit appraisal and approval process through digitization and automation Additionally, the bank developed a comprehensive roadmap and strategy for digital transformation, positioning itself to become the leading digital bank in Vietnam.