In presenting MB with awards as “Best FX Bank in Vietnam” and “Best Financial Derivatives Provider in Vietnam”, The Asian Banker noted the bank’s market share and position, fast and powerful digital transformation process, and high-quality and enthusiastic staff. Its foreign exchange trading remains in the Top 3 in terms of market share, while its interest rate derivatives and commodity derivatives have been considered the leading choices in the market for many years.

“The two awards recognize the high quality and efficiency that MB’s foreign exchange services and derivative products provide to clients, with convenient experiences on digital and physical channels and competitive solutions,” said Ms. Nguyen Minh Chau, Deputy General Director of MB.

In its more than 26 years, MB has affirmed its solid position among the Top 5 commercial banks in Vietnam in terms of business efficiency and safety, with pre-tax profit reaching VND10.688 trillion ($465.8 million) in 2020 while total assets grew 20 per cent to VND494.982 trillion ($21.5 billion).

Foreign exchange services and derivative products are also MB’s focus in its business transformation, to increase the proportion of profit from services. As one of the first banks licensed by the State Bank of Vietnam (SBV) to provide foreign exchange services and derivative products in Vietnam, MB has built up a client portfolio spanning many segments, offering a variety of products to meet needs in financial risk hedging.

In 2021, aware of the intensive competition in the banking sector in general and the foreign exchange and derivatives market in particular, MB has gradually digitized every step in the transaction process, offering customers increasingly automated and efficient transaction methods.

MB is a pioneering bank in deploying foreign exchange and derivatives services, on the MBBank app for individual customers and Biz MB for corporate customers. It is also the first bank to launch a chatbot tool to automatically provide market information and conduct FX transactions with corporate clients.

Viewing human resources as its most important asset, especially in business lines such as foreign exchange and derivatives, MB’s Board of Management has been closely involved in staff training and team building and supported the development of its employees’ potential.

The two awards from The Asian Banker are worthy recognition of the bank’s transformation efforts over recent times. They also help MB affirm its leading position in Vietnam’s financial market.