Vietnam Maritime Commercial Joint Stock Bank (Maritime Bank) was established on July 12, 1991 in Haiphong City in Vietnam. With 26 years of striving forward in its history, the bank has accomplished steady growth and become a prominent brand in Vietnam.
Thanks to the ambition of the bank leaders and their shared vision for the future prospect of the Vietnamese financial market from the early days, Maritime Bank became the first private joint stock commercial bank to be licensed in Vietnam. The pioneering spirit of the first generation has been kept in the bank’s business strategies throughout its development journey to grow up to be one of the leading banks today with a set of extraordinary achievements.
Incessantly expanding in scale:
Starting as a young private bank with 24 shareholders, charter capital of VND 40 billion, and a handful of branches in large cities and provinces of Haiphong, Hanoi, Quang Ninh, and Ho Chi Minh City, Maritime Bank has grown both in scale and financial capacity into a financial organisation with charter capital of VND11.75 trillion, 294 times the initial chartered capital, a network of over 800 branches, transaction offices and ATMs nationwide serving over 1.6 million trusting individual customers, 39,000 corporate customers, and more than 2,000 large-scale corporate and financial institutional customers.
Committed investment in technology
Right after its establishment, Maritime Bank stunned the Vietnamese banking sector by pioneering the use of modern technology: it was the first commercial bank to roll out international payment services. It also built the Core Banking system that almost all local banks now use in Vietnam. Also, Maritime Bank was the first to use LAN and WAN to shorten the time of money transfers from a few weeks to a few minutes. Not stopping there, over the past quarter century of development, the bank has been continuously investing in upgrading its technology platform to meet the evolving requirements of a modern bank to better serve customers.
Efforts to enhance the quality of products and services
Aiming at providing the best experiences to customers and partners when using its products and services, apart from continuously upgrading the IT network, Maritime Bank has regularly launched new products and programmes to increase added value to customers. For individual customers, Maritime Bank is the bank of families that not only provides benefits for customers, but also their families and friends through product packages optimally designed to meet the actual needs of every group of customers. For corporate customers, it is a bank that provides financial services to both the customers themselves and their partners in order to optimise their business efficiency towards cooperation for strong and sustainable growth.
Attention to risk management
As one of the 10 banks chosen by the State Bank of Vietnam (SBV) to pilot Basel II compliance, Maritime Bank has set up a Basel II steering committee consisting of high-level members of the Board of Directors and Board of Management, and established the Basel II Centre and a specialised risk tool model to successfully carry out the project. Currently, the bank is maintaining a strong capital adequacy ratio (CAR) at 19.48 per cent, above the 9 per cent required by SBV. Thanks to this strong foundation, the bank has been able to implement new business plans as scheduled.
Given its continuous efforts throughout all stages of operations to bring the best experiences to the bank’s customers, Maritime Bank has received numerous awards from prestigious domestic and international organisations, including Vietnam Domestic FX Bank of the Year in 2017 from Asian Banking & Finance (ABF) for three consecutive years, Outstanding Contribution to SMEs and Innovation in Vietnam 2017 by Capital Finance International, Best Retail Bank in Vietnam 2017 by International Finance Review, Best Co-branded Program in Vietnam 2017 by MasterCard, and Vietnam Outstanding Bank for SMEs by IDG.