MB among strongest banks in Asia-Pacific

The Military Commercial Joint Stock Bank (MB) ranked third among 14 Vietnamese banks in the list of 500 strongest banks (AB500) in Asia-Pacific recently released by The Asian Banker.
MB among strongest banks in Asia-Pacific ảnh 1Illustrative image (Source: cafef.vn)

Hanoi (VNA) – The Military Commercial JointStock Bank (MB) ranked third among 14 Vietnamese banks in the list of 500strongest banks (AB500) in Asia-Pacific recently released by The Asian Banker.

AB500 is an annual study of the financial andbusiness performance of the commercial banking industry in Asia-Pacific. Thestudy comprises two different lists: the first ranks the top 500 banks in theregion by asset size, while the second ranks the same banks by strength, or long-term profitability from its core businesses.

In the 2018 ranking, MB jumped one place domestically and 32 places inAsia-Pacific compared with 2017.

Along with strategic programmes for customers, targeting major businesses,small-and medium-sized enterprises (SMEs) and individuals, MB hit its businesstargets for 2018, with profits up 56 percent to 7.7 trillion VND (331.1 millionUSD) and turnover hitting 1 billion USD.  

Apart from MB, the Joint Stock Commercial Bankfor Foreign Trade of Vietnam (Vietcombank) and theVietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) were also listed in the AB500 ranking.-VNA

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