Business

Military Bank honoured for performance

The Military Bank Joint Stock Company (MB) was recently honoured as one of the top 50 fastest growing enterprises in Vietnam during 2009-2014.
The Military Bank Joint Stock Company (MB) was recently honoured as oneof the top 50 fastest growing enterprises in Vietnam during2009-2014.

The selection criteria for the accolade are based onrevenue growth rate, the contribution to the State’s budget over thefive years and performance in profitable efficiency indexes includingreturn on asset (ROA) and return on equity (ROE).

During theperiod, the bank achieved an impressive annual growth rate from 20-30percent. Of the figure, the bank’s total assets increased 2.9 times, up200.5 trillion VND (9.5 billion USD). Profit before tax reached 3.17trillion VND (151 million USD) and the bad debt ratio was maintained at amarginal rate of 2.73 percent.

The bank projects enjoying agrowth rate of 8 percent in 2015, while ownership capital is expected toincreases to 16.5 trillion VND (789 million USD). Chapter capitalshould rise to 11.6 trillion VND (552 million USD).

During thefive years, MB was one of the biggest tax payers. In 2014 alone, itcontributed 800 billion VND (38 million USD) to the State budget.

Thebank also received several awards in recognition of its qualitymanagement and outstanding performance, including the Asia PacificQuality Organisation (APQO) prize in 2014 - the highest award given bythe organisation. MIB also received the 2013 National Quality Award.-VNA
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