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Kienlongbank: Opening 17 new branches and transaction offices in 2018

(Chinhphu.vn) - On January 19, the State Bank of Vietnam (SBV) issued Decision No. 498/NHNN-TTGSNH and 499/NHNN-TTGSNH approving Kien Long Commercial Joint -Stock Bank (Kienlongbank) to expand its network in 2018. Accordingly, 17 branches and transaction offices of Kienlongbank will be newly opened nationwide this year.

Kienlongbank has been constantly expanding its network of branches and transaction offices to facilitate and meet the increasing demand of customers

Focusing on the strengths of the retail market in rural areas.

The in-depth banking industry restructuring process, re-structuring efforts with internal resources to consolidate activities, to prepare to integrate into the new development flow, and to improve the financial health, safety and performance of the banks is continuing to be strengthened. Kienlongbank is one of them and constantly promoting its retail strategies.

Togather with the development of credit operation, Kienlongbank products and services are constantly improved, transaction networks also are developed in order to improve the service quality and meet the increasing demands of customers. With the advantage of understanding the market and understanding customers, Kienlongbank has been successful in exploiting credit opearion (granting loans) for production, business and service sectors of small traders and farmers.

Promoting its strengths, Kienlongbank continues to invest in this market in recent years. In 2016, Kienlongbank opened 14 more branches and transaction offices in localities where the Bank has advantages.

Although newly operating in rural and remote areas for a year, all of 14 business units have been operating very well, the number of customers has increased significantly with specific and different business policies, many convenience products, reasonable interest rates, meeting the customer's needs for capital and serving the mass of farmers.

Expanding the network to grow

For those reasons, the State Bank made positive assessments of Kienlongbank's management and operational capacity as well as positive business results in the last years. With the approval of the State Bank of Vietnam on developing 17 new business units in 2018, Kienlongbank will increase the number of transaction offices to 134 offices and scope of presence in most provinces, cities and localities.

Specifically, Kienlongbank was licensed to establish three more branches, including: Lam Dong Branch (Lam Dong Province), Quang Nam Branch (Quang Nam Province), Can Gio Branch (Can Gio District, HCMC); and 14 transaction offices, including: Bac Binh Transaction Office (Binh Thuan), Bong Son Transaction Office (Binh Dinh), Cam Le Transaction Office (Da Nang), Long Thanh Transaction Office and Ho Nai Transaction Office (Dong Nai), Son Hoa Transaction Office and Tuy An Transaction Office (Phu Yen), Chau Thanh Transaction Office (Soc Trang), Go Dau Transaction Office and Chau Thanh (Tay Ninh), Cai Be Transaction Office (Tien Giang), Tra On Transaction Office and Vung Liem Transaction Office (Vinh Long), Phuoc Tinh Transaction Office (Ba Ria - Vung Tau). Therefore, Kienlongbank has been expanding its network, facilitating customers who come to make transactions and serving the majority of customers in the local.

Positive business results creating the premise in 2018

In 2017, Kienlongbank identified the key objective of operating its businesses in line with the real situation and orientation of the State Bank, the business targets have been stable and achieved satisfactory results.

Specifically, total assets of Kienlongbank reached 37,353 billion VND, completed 102.34% (increasing 22.67% when compared with 2016); total credit outstanding reached 24,686 billion VND, fulfilled 99.94% (increasing 24.89% compared to 2016); total mobilized capital reached 33,152 billion VND, completed 102.01% (increasing 25.74% when compared to 2016).

The NPL ratio was controlled at 0.83%; pre-tax profit was 259.51 billion VND, completed 103.80% (increasing 71.2% when compared to 2016); the operational safety indexes are implemented in accordance with regulations of the SBV.

Kienlongbank promises to gain more successes in the future with its advantage of market knowledge, increasingly expanded scale of operation and stable, sustainable foundation. This is one of the key business strategies of Kienlongbank to successfully implement the Bank Restructuring Plan for the 2016-2020 period, managing Kienlongbank's operations in line with the actual situation and orientation of the SBV.

By Minh Dang/ Government News


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