International Finance

Vietnam’s MSB focused on exceptional customer experiences

MSB customer experience
Its efforts to deliver quality products coupled with exceptional customer engagement has led to ground breaking milestones

The Maritime Commercial Joint Stock Bank (MSB) is the first commercial bank to be setup during the period of Vietnam’s economic reform and rapid development in the 1990s. MSB has continuously set new groundbreaking milestones in finance and banking sphere spanning over 28 years of development: 

  • From 2009 to 2010, MSB partnered with the world’s popular consultancy McKinsey to draw out a long-term business strategy.
  • In 2015, MSB became one of the largest joint stock commercial banks in Vietnam in terms of charter capital and network following Mekong Development Commercial Joint Stock Bank merger and Vietnam Textile and Garment Finance Company acquisition.
  • In 2018, MSB continued to take the lead in the 4.0 technology revolution and became the first bank to apply artificial intelligence to to credit card issuance and  integrate its QR code payment method with Vnpay and Payoo.
  • In 2019, MSB changed its brand identity and experience models to become the most reliable and understanding bank for customers — while  achieving high profits in Vietnam.

The bank’s collective strength and pioneering spirit stems from its founding shareholders. MSB has been growing steadily based on the two foundations: 

  • Strong financial potential: In 2018, MSB’s total assets reached VND137,768 billion, up 32.07 percent compared to 2015. Its owner’s equity increased to VND13,820 billion and total income reached VND11,144 billion.
  • Best risk management capacity and credit model in the market which was evaluated and rated by the  prestigious credit rating agency Moody’s.

According to Moody’s ratings disclosed at the end of March 2019, MSB’s long-term local currency and foreign currency deposit rating has been upgraded to B2. Both indicators including long-term counterparty risk and long-term counterparty risk assessment were raised from B2 to B. Particularly, Moody’s adjusted MSB’s baseline credit assessment from CAA1 to B3.

On June 17, MSB has adopted the Basel II international risk management model. The State Bank of Vietnam allowed MSB to apply Circular 41 regulating  capital adequacy ratio that is applied to banks and foreign bank branches in accordance with Basel II international standards. This establishes a safe, efficient, and transparent operations based on international risk management principles and helps to raise MSB’s position and competitiveness in the market.

  • Strong customer base growth: MSB has gained the trust of over 1.8 million retail customers, 45,000 business customers and significant partners, by offering a variety of banking and financial products and services with outstanding benefits. 
  • Wide network of branches and transaction offices: MSB has been continuously expanding its operating network to reach the level of top commercial joint stock banks with the largest network in Vietnam: 274 branches and transaction offices, 500 ATMs with a wide coverage in 51/63 provinces.
  • Innovative and dynamic team: MSB is proud of being led by a team of professional and experienced senior leaders, including many leading local and regional banking experts. It has a team of nearly 7000 dynamic and professional employees. The bank has been creating competitive advantages with a fair work environment that facilitates creativity and innovation. 

These strengths have built a sustainable foundation that has helped the bank grow at a steady pace over the years. MSB has invested 28 long years in striving to become a bank that ‘everyone wants to join and no one wants to leave’. It is guided by the mission of creating a more convenient and comfortable life  for customers, employees, shareholders and the community. 

The bank’s overall vision has led to a long-term success in creating products, identifying human resources and developing technological systems. This is especially important in understanding what customers need across all engagement channels at all times. 

At its core, MSB focuses on implementing five main values: Responsibility, attentiveness, respect, innovation and efficiency in each activity it engages in to build a professional, friendly, transparent and high-performance corporate culture. And while offering customers outstanding experiences, the bank is committed to adhering to four principles: simplicity, proactivity, interconnectedness and empathy to realise customer satisfaction. 

MSB prides itself on delivering exceptional customer experiences. The bank has been recognised by many prestigious organisations both local and international in this regard. Its 1.8 million retail customers and 45,000 corporate customers — in addition to significant partners and shareholders — is a testament to its long-standing success in Vietnam’s banking industry. 



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