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CAPSTONE PROJECT REPORT BUILDING STRATEGY TO DEVELOP PERSONAL CREDIT SERVICE AT VCB Le Quang Hung Nguyen Anh Tuan (1980) Le Tri Dung Tran Hoai Nam Nguyen Quang Hoa Class: GaMBA01.N06 HANOI 2011 Group Class: GaMBA01.N06 Graduation Thesis GRIGGS UNIVERSITY GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM CAPSTONE PROJECT REPORT BUILDING STRATEGY TO DEVELOP PERSONAL CREDIT SERVICE AT JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM Group Number: Student’s name: Le Quang Hung Nguyen Anh Tuan (1980) Le Tri Dung Tran Hoai Nam Nguyen Quang Hoa HANOI 2011 ii Group Class: GaMBA01.N06 Graduation Thesis Ha Noi, August 20th, 2011 Dear: Management Board of Class GaMBA01.N06 Group Class GaMBA01.N06 Register outline of Graduation Thesis Le Quang Hung - Group leader Nguyen Anh Tuan (1980) Le Tri Dung Tran Hoai Nam Nguyen Quang Hoa OUTLINE GRADUATION THESIS TASK: Building strategy to develop personal credit service at Joint Stock Commercial Bank For Foreign Trade of Vietnam (Vietcombank) iii Group Class: GaMBA01.N06 Graduation Thesis TABLE OF CONTENTS INTRODUCTION Chapter I: The Basic Theoretical Issues of Strategy to Development Credit Product for Commercial Banks 1.1 Overview of Strategic Management 1.1.1 Strategic Management Model 1.1.2 Process of Planning Strategy 1.1.2.1 Analysis of Business Environment 1.1.2.2 Identification of Purpose, Objectives of The Strategy 1.1.2.3 Strategic Planning 1.1.2.4 Action Program 1.2 Overview of Personal Credit Services in Commercial Banks 1.2.1 Overview of Commercial Banks and Banking Services 1.2.1.1 The Concept of Commercial Banks (CBs) 1.2.1.2 The Concept of Banking Services 1.2.2 Overview of Personal Credit Service in Commercial Banks 1.2.2.1 The Concept of Ceredit Services in Commercial Banks 1.2.2.2 The Role of Credit Services (CS) 1.2.2.3 Personal Credit Services (PCS) 1.3 The Tools Used in Planning Strategy 1.3.1 Rule 4W - 1H 1.3.2 Matrix Used to Assess Internal Factor Environmental - IFE 1.3.3 Matrix Used to Assess External Factor Environmental - EFE 1.3.4 PEST Model 1.3.5 SWOT Matrix 1.3.6 BCG Matrix 1.3.7 Michael Porter Model 1.3.8 GREAT Matrix Chapter II: The Status of The Development Strategy of Page 3 5 8 9 10 10 10 11 12 12 12 13 13 14 14 14 15 15 Personal Credit Services of Commercial Banks, Joint-Stock for Foreign Trade of Vietnam 2.1 An Overview of Business Status of Joint-Stock Commercial 17 Banks for Foreign Trade of Vietnam (Vietcombank) 2.1.1 The Process of Formation and Development of Vietcombank 2.1.2 The Organizational Structure of Vietcombank 2.1.3 Overview of Operations of Vietcombank 2.1.3.1 Mobilization Activities 2.1.3.2 Business Status of Credit Service 2.1.3.3 Development Activities of Banking Services 2.1.3.4 The Quality of Credit Fund and Risk Provisions 2.2 Status of The Development Strategy of Personal Credit Services 17 17 18 21 21 23 24 25 iv Group Class: GaMBA01.N06 Graduation Thesis in Vietcombank 2.2.1 Status Business of Personal Credit Services in Vietcombank 2.2.1.1 Types of Product 2.2.1.2 Revenue and Market Share 2.2.1.3 Quality of Service 2.2.2 Assessment of Planning Strategy of Personal Credit Services 25 25 25 28 29 in Vietcombank 2.3 Analysis of the Impact of Business Environment on Personal 30 Credit Services in Vietcombank 2.3.1 Analysis of the Impact of External Factor Environmental - 32 PEST Model 2.3.1.1 Institutional Factors - Law 2.3.1.2 Economic Factors 2.3.1.3 The Socio-Cultural Factors 2.3.1.4 Technological Factors – Technical Factors 2.3.2 Analysis of the Impact of Sector Environmental Factor 2.3.3 Analysis of the Impact of Internal Environmental Factors 2.3.4 SWOT Synthetic Analysis Chapter III: Propose Strategies to Develop Personal Credit 32 32 33 33 34 34 36 36 Services for Commercial Bank For Foreign Trade of Vietnam 3.1 Strategic Orientation for Development of Personal Credit 38 Services of Commercial Banks, Joint-Stock Bank for Foreign Trade of Vietnam 3.1.1 Orientations for Development of Vietcombank 3.1.2 Orientations for Development of Personal Credit Services of 38 38 Vietcombank 3.2 The Strategic Solution Strategy of Personal Credit Services of 38 Vietcombank 3.2.1 Strategic Feasible Proposal 3.2.2 Strategic Planning 3.3 The Solution to Implement Strategy 3.3.1 HR Solution 3.3.2 Organizational Solution 3.3.3 Solution to Complete Product Category 3.3.4 Technology Solution 3.3.5 Marketing Solution 3.3.6 Strengthening Risk Management Competence 3.4 Roadmap for Implementation of Strategic Solutions 3.5 Prediction of Arising Situations and Proposal Solutions CONCLUSION REFERENCES v 39 39 40 41 41 43 43 44 45 46 47 48 50 51 Group Class: GaMBA01.N06 Graduation Thesis LIST OF ABBREVIATIONS Vietcombank VCB CB PC SE VND ACB HSBC OCB TCB SMS Joint Stock Commercial Bank For Foreign Trade of Vietnam Joint Stock Commercial Bank For Foreign Trade of Vietnam Commercial Bank Personal Credit Social Economy Vietnam Dong Asia Commercial Bank Hong Kong and Shanghai Banking Corporation Oceanbank Techcombank Short Message Service vi Group Class: GaMBA01.N06 Graduation Thesis LIST OF TABLES Table 1.1 Matrix Used to Assess Internal Factor Environmental Table 1.2 Matrix Used to Assess External Factor Environmental Table 2.1 Labour Structure According to Working Years Table 2.2 Labor Structure by Degree Table 2.3 Mobilizing Capital Activities Table 2.4 The Structure of Mobilizing Capital Between Foreign Currency and 13 13 19 19 21 VND Table 2.5 Credit Activities Over Years Table 2.6 Personal Loans of Some Banks Table 2.7 Structure of Credit According to Customers 22 23 27 28 vii Group Class: GaMBA01.N06 Graduation Thesis LIST OF FIGURES Figure 1.1 Strategic Management Model Figure 1.2 External Environment Figure 1.3 SWOT Matrix Figure 1.4 BCG Matrix Figure 1.5 Michael Porter Matrix Figure 2.1 Organization of VIETCOMBANK Figure 2.2 SWOT Matrix of Vietcombank viii 14 15 15 20 37 INTRODUCTION The term "Retail Bank" shall be understood and applied in practice in many developed countries around the world Retail bank includes banking services for customers who are households and individuals In developed countries, a retail bank is a good business because it brings huge benefits to both consumers and banks Personal Credit Services is a main array of activities of a retail bank Personal Credit Service (also known as credit services for individual customers) has a strong influence on production, consumption and promotion for economic development Therefore, personal credit service is a main business of banks, even some banks, financial institutions only deploy personal credit service In Vietnam, personal credit service has been implemented for a long time However, personal credit service of banks is very limited and is not focused much For almost 10 years, mainstream deployment of retail banking activities appeared and have developed strongly and led to the development of personal credit service Joint Stock Commercial Bank For Foreign Trade of Vietnam is one of three major banks, which has diverse operations, higher business performance, but not focused on developing personal credit services Developing and implementing strategy to develop personal credit services in Vietcombank may help the bank develop diversely, sustainably and strongly Based on the practical development of Vietnam's financial market situation and the status of deployment of personal credit services in Vietcombank, the coauthors decided to choose the theme: Building strategy to develop personal credit service at Joint Stock Commercial Bank For Foreign Trade of Vietnam (Vietcombank) for graduation thesis Group Class: GaMBA01.N06 - Graduation Thesis The organization of the graduation thesis: Chapter I: The Basic Theoretical Issues of Strategy to Development Credit Product for Commercial Banks Chapter II: Status of the Development Strategy of Personal Credit Services of Commercial Banks, Joint-Stock for Foreign Trade of Vietnam Chapter III: Propose Strategies to Develop Personal Credit Services for Commercial Bank For Foreign Trade of Vietnam Group Class: GaMBA01.N06 Graduation Thesis Chapter III: Propose Strategies to Develop Personal Credit Services for Commercial Bank For Foreign Trade of Vietnam 3.1 Strategic Orientation for Development of Personal Credit Services of Commercial Banks, Joint-Stock Bank for Foreign Trade of Vietnam 3.1.1 Orientations for Development of Vietcombank 2011 was the first year of the 5-year plan from 2011 to 2015 In 2011 was the first year of implementation of the new law credit institutions The management of the central bank for the operation of credit institutions is towards more closely with the higher requirements The economy has not really recovered, the market does not have many positive signs Before the challenge from the inside and outside, to well implement the goals and directions, Vietcombank always thoroughly bear in mind the motto: "Speed Safety - Efficiency - Quality" Specifically: Anti decline, maitain market share; manage credit service, increase retail banking, expand networks, develop stronger POS; implement foreign affairs, maintain market share in the payment at 20%, increase inspection and strengthen control; deploy Vietcombank’s culture, promote social welfare 3.1.2 Orientations for Development of Personal Credit Services of Vietcombank During the orientation for each type of specific activities, Vietcombank has addressed the development of capital, credit, investment, risk management and other areas of activity Orient development of capital, credit, investment Vietcombank namely: - Continue to boost funding, aim to raise capital to grow the economy from approximately 20% - Step by step reach the international bond market, with plans to increase gradually the proportion of capital at level in the equity structure 44 Group Class: GaMBA01.N06 - Graduation Thesis Control credit growth below 20% (growth in outstanding loans to 20%), growth ofdeficit loans with SMEs customers and is higher than growth rate of deficit loans - Ensure credit quality and try to limit bad debts incurred along with unhandled the outstanding debts, significantly reduce bad debt, bad debt is limited under 2.8% Promote the recovery of debts which has been processed by the risk reserve - Review portfolio, capital contribution, appropriatly restructuring, focusing on efficiency of investment Personal credit services is a form of credit of Vietcombank, but in the development of credit services, the bank did not mention so it means that the bank has not development orientation The personal credit services is a business model in many banking services but now personal credit services or retail banking is becoming a key breakthrough in business BCG matrix analysis for personal services of credit that VCB, VCB's market share in this market is low, the growth of this market higher Thus, the VCB is in the "question mark" of the BCG matrix, VCB needs investment to develop market share to jump to the "star" and then reached the peak of the business that is the "cow" The development strategy of personal credit services, VCB is very much to and with his potential, this is a good time to develop strong personal credit services The failure to mention the personal credit services in the orientation shows that , Vietcombank are also not aware of the role of this service Maybe, this is still the inherent limitations in the strategic thinking of the big banks, and especially the banks dominated by the State as Vietcombank 3.2 The Strategic Solution Strategy of Personal Credit Services of Vietcombank 3.2.1 Strategic Feasible Proposal 45 Group Class: GaMBA01.N06 Graduation Thesis Based on the SWOT analysis, Vietcombank has 11 suggestion for development strategy Specifically: - SO Strategy Strongly develop the market of personal credit service Promote cooperation with abroad comapanies Diversify the types of personal credit services - WO Strategy Identify appropriate target markets Develop product and exploit potential of the market 32 Use reputation to enhance competitiveness - ST Strategy Promote development personal credit service Use all the resources to promote competition to avoid lag Foster knowledge of marketing staff to meet customers’ needs - WT Strategy Focuse on deploying personal credit service Diversify types of personal credit service Raise flexibility to increase adaptation The strategic suggestion is formed based on a combination of the environmental situation inside and outside environment of the bank Vietcombank can plan individual strategies for each strategic direction and implementation However, in the direction of this strategic direction there are many partial strategies, and the size is too small Or there are many strategic directions which make it difficult for strategic planning If we make separate small strategies it can lead to chaos in implementing the is vague, disorient in the implementation of the strategy 46 Group Class: GaMBA01.N06 Graduation Thesis Therefore, in strategic planning, businesses can combine several partial strategies to form a common strategy to ensure overall Or split the strategic direction of the overall department strategy to facilitate the implementation process Feasible strategy is planned and put into practice to ensure compliance with the current conditions of business environment, the actual conditions of enterprises and especially to ensure feasibility (SMART principle) Within this exercise, the authors did not proceed to list possible strategies but move to the optimal strategy 3.2.2 Strategic Planning * Identify the purpose and objectives of the strategy Use Code 4W - 1H in determining goals and objectives of the development strategy of personal credit services The content of this rule requires persons conducting planning to answer questions about their work The question is: What to do? (What I do?), How to? (Who I see?), Do when? (When I do?), How where? (Where I do?) And how? (How I do?) Purpose: "The Bank offersnumber personal credit services" Implementation period: years The goal: - The largest market share - Development of a full-service personal credit - The highly professional customer trust * Indentify Target Interior customers and medium customers in the cities, townships and towns * Main Activities of Strategy - Research, design to gradually diversify product categories 47 Group Class: GaMBA01.N06 Graduation Thesis - Expand cooperation in terms of objects and form with credit institutions and other organizations dealing in the foreign service of diversifying product lines - Coordinate to use marketing tools to build and locate number personal credit card service in Vietnam - To improve staffs’quality according to customers’ demand - Promote personal credit services in the entire system of branches and transaction offices of the Vietcombank Diversifying types to access customers 3.3 The Solution to Implement Strategy 3.3.1 HR Solution - Pay attention to strengthening institutions in the system, make promotion regularly, recruit in accordance with the requirements of the retail banking activities - Attach the training results with the arrangement of personnel according to the principle of the right people with right job, carrying out he rotation in work so that workers can be best suited to professional qualifications to promote the creative spirit - Pay much attention to the improvement of material benefits and employee morale Develop mechanisms for assessing employees based on work performance and contribution to the bank - Create a professional working environment, dynamic innovation through which encourages enthusiasm and creative work Creat more learning opportunities for all qualified staff - There are compelling policy on recruitment, training, encouragement policies to maintain and develop quality of employees • Recruitment: - Develop criteria and mechanisms for recruitment Recruitment must be clear for each position 48 Group Class: GaMBA01.N06 Graduation Thesis - To recruit from outside regularly to ensure smooth process operations • Training: - Identify the training object and training content - At the head office: provide knowledge of the retail banking business, designing skills and development product, management skills and salle skill so that we can sell products through a network of branches and channels other sales In addition, providing knowledge of customer relationships, how to serve customers for the retail banking staff at the head office - At branch: Regularly train on products and personal credit services, operational procedures for staff in customer relation department; periodically organize training sale skills: customer relations staff, financial counsutant, staff welcoming customers, customer service staff including: communication skills with customers, introducing and selling products and services, developing and maintaining relationships with customers 49 Group Class: GaMBA01.N06 Graduation Thesis 3.3.2 Organizational Solution Form customer relations department who are in charge of implementing the business of retail banking, services, retail banking service Customer relations department is the focal individuals operating and managing retail operations in the transaction, transaction and distribution channels of the branch… - Supplement and complete description of functions and tasks in each job of customer relations staff, counselors personal finance, customer service Clearly define tasks such as sale service, consulting services for when operating - Organize staff who are in charge of customer relations with high quality to consult cuastomers to satisfy personal customers’ requirements for credit products and services 3.3.3 Solution to Complete Product Category - To promote the development of the Vietcombank’s service through affiliate programs with the famous brand in communication, sports, fashion, music for young customers, link to modern brand shopping for young customers and middle aged women - Combine flexibly between unsecured consumption lending products with other cards in order to exploit the target group of customers who have an average income such as employees in the enterprise - Research to standardize credit products and continue to review, edit in the following years to provide customers a complete product portfolio and regularly updated in line with demand customers - Develop and make personal credit products and services more appropriate to each market segment (customers, regions and areas); design services to suit the new needs of customers and the development of the market each period - Improve personal credit service, build the process of friendly products to customers according to the direction of reducing time consumming in procedure and transaction 50 Group Class: GaMBA01.N06 Graduation Thesis - Improve the exploitation and use of technology systems for customer relationship management to better serve the existing needs and exploit new needs of our customers - Promote credit for buying house: Develop housing credit products and tie it to the financial long- term solution through new partnership with investors who are companies dealing in real estate and construction; - Promote credit srvice for production of business purpose: Build credit policy for households and businesses; focus on providing credit services to business customers in areas related to import and export, manufacturing, business services, processing, construction - In addition, we can develop additional personal credit service such as: lending middle-income customer money for buying house purpose, lending money for buying house in specific projects, lending money by mortaging unlisted stock, leanding money by participating in auctions of listed stock; leanding money for buying, leanding successful young entrepreneurs; leading money for buying motorcycle on hire-purchase , leading money for shopping on hire-purchase and link with major shopping centers 3.3.4 Technology Solution - To Build Information Technology Infrastructures to Ensure Security, Stability  Develop a disaster prevention center  Apply the encryption system to encrypt transperence for computer networks  Build the authentication system with many factors that can enhance the protection of banking applications  Build defense system against computer viruses, attacks against information systems technology  Implement control systems to administrate network resources and users  Implement control system workstation users avoid getting infected with virus and password-stealing program 51 Group Class: GaMBA01.N06 Graduation Thesis  Build the system to monitor quality management of information technology - Diversify product and service channels, provide customers with banking services in Vietnam such as electronic banking service to ensure security, realiability The products and services are constantly updated to satisfy needs of our customers - Improve quality of product, service and buld friendly products to customers according to the direction of reducing time procedure and transaction process - Equip the systems of Customer Relationship Management (CRM) and Contact Center system (Contact Center) to facilitate the information system for managing customer relationships with customers in a better way and to support the customer classification, perform customer marketing strategies for each customer group - Equip management information system MIS to equip information and reporting system for management at the head office and the member units in the entire system to make sure there is a full information system 3.3.5 Marketing Solution - Continue to expand its network of branches and transaction offices, service center personal credit in key areas such as big cities, and densely populated areas to increase the supply the retail banking services - Improve performance of each branch/business unit with the goal of each staff as a profit center - Develop strong distribution channel through electronic referral activities, marketing to customers and take advantage of partnership opportunities with other organizations to increase link to sell personal credit services - Develop a marketing department with professional activities from the Head Office to Branch and the entire system of Vietcombank According to that the marketing department will deal with retail banking service at the Head Office with all the functionality to perform all activities as market research, promotion activities on trade promotion activities, PR, 52 Group Class: GaMBA01.N06 Graduation Thesis - Develop a affective synchronous PR program to boost retail brands in the early stages This activity will help the public, customers understand more about the advantages of personal credit services of Vietcombank Also, it creates competitive advantage for retail banking services To make this really work effectively, there must be consistency of message to the public and target customers 3.3.6 Strengthening Risk Management Competence - Strengthen control credit risk management: try to decrease rate of bad personal credit debt at low level in the entire sector To accomplish this goal, need to perform a number of measures to maintain credit risk at low levels as follows:  Ensure clear delineation between business functions and risk management functions in all parts of Vietcombank to specialize risk management, risk reduction  Check regularly assess compliance with procedures and regulations of the personnel branch  Develop a system to classify, assess the client to audit, analyze and quantify risks as the basis for the decision to grant credit limitation or give quota on the account for each customer  Enhance the forecast at the office as well as in its branches to manage market risk - Better manage operational risk through the overall solutions:  Standardize processes product, operation, management and control of compliance with business processes  Regularly train and educate, raise awareness of responsibility, professional ethics and qualifications for staff  Improve inspection and internal audit; modernize information technology systems, improve security and data security, system backup storage continuous data  Set up full risk reserve fund for the operation of credit and non-credit activities 53 Group Class: GaMBA01.N06 Graduation Thesis 3.4 Roadmap for Implementation of Strategic Solutions The period to develop personal credit service of Vietcombank is years In three years of implementation of this strategy, the bank must perform simultaneously three goals: - The largest market share - Development fully personal creditservice - Highly professional and be trusted by customer To accomplish the objectives of the strategy, Vietcombank must have the The first year: - Carry out quickly market research, product research to plan and implement product development plans, market - Assess the competitive environment, devise effective competitive strategy - Strengthen the organizational structure, personnel meet strategic requirements - Thoroughly understand the strategic thinking of all the parts - Train, retrain and recruit staff to meet the requirements with highly specialized capabilities, professional skill and customer service skills - Organize the distribution system, promote products and services of personal credit in all transaction branches of Vietcombank - Provide individual credit quality requirements, carry out communication activities about the product The second year - Check all the activities in the first year, assess progress to meet the requirements of the strategy If these activities not satisfy requirements, we need to further strengthen activities to meet the requirements Any activities does not fit the business conditions, market strategies, we need to remove and find alternative solutions (if needed) - Assess the feasibility of the initial strategy, adjust strategies if necessary 54 Group Class: GaMBA01.N06 Graduation Thesis - Continue to diversify product lines, improve and perfect features of product - Closely monitor competitors, make flexible competition policy - Standardize the staff level, improve professionalism - Standardize activities in all parts of services, expand new distribution channels - Implement marketing strategy and PR activities and other marketing activities to deploy personal credit service of Vietcombank (make sure to get number position) The third year - Review all activities in the first year and the second year Assess the progress to meet the requirements of the strategy Any activities does not satisfy requirements, we need to further strengthen to meet the requirements Any activities does not fit the business conditions, market strategies,we need to remove and find alternative solutions (if necessary) - Enhance PR activities to get the leading position in the market of services - Affirm the competitive position: cooperation, merger, eliminating competitors - Complete types of products, provide services across the entire target market - Train professionalism for the staff, so that the bank can get the best quality service 3.5 Prediction of Arising Situations and Proposal Solutions Development strategy for personal credit services of Vietcombank is built on the basis of the actual operations of the bank However, due to the banks themselves as well as by the changes of business environment so the strategy can not avoid the unexpected situation These situations are diverse, difficult to predict 55 Group Class: GaMBA01.N06 Graduation Thesis during the relatively long implementation of the strategy Therefore, predicting situation is hard work for any enterprise in implementing strategy In the scope of graduation thesis, the authors make three provisional forecast of the situation which may most probably arise to Vietcombank Firstly: Vietcombank is a large bank and has diverse service in the banking sector Personal Credit Services is a small area in the current business field Vietcombank has a large capital, ablity to purchase the highly profitable sector Therefore, the leadership of Vietcombank may neglect to develop personal credit services Secondly: Personal credit services market is growing strongly, this is not small opportunity for small banks For these banks, the service can be a leading sector that brings profit for banks Therefore, the level of competition will be more drastic thereby it will effect the goals of Vietcombank Thirdly: The cost to develop market is great, if Vietcombank leaders are not keen on this strategy they will not give enough cost and time to implement the strategy These are three major risk that may occur for development strategy of personal credit service of Vietcombank With Vietcombank’s ability and competence, the third potential risk can prevented and solved by two solutions They are: Firstly: Be consistent about the strategic intenttion for Vietcombank's leadership to create consistency in the implementation strategy of personal credit services Secondly: Comply with strict requirements of the development strategy in each phase to get a effective strategy and implement well strategic solutions 56 Group Class: GaMBA01.N06 Graduation Thesis CONCLUSION Developing personal credit services in the banks in Vietnam is really needed in the current period To develop personal credit services, the banks need to be aware of the its important role in the development of the banak and they also need to have development astrategy to develop personal credit services so that it can be consistent with business conditions and characteristics of business environment This exercise refers to the strategic development of personal credit services but it just gives overview strategy It will be a reference to the Vietcombank and other banks in developing business strategy and strategic development of personal credit services However, due to limited time and knowledge and with the scope of a graduation thesis so this thesis can not avoid limitations We are very willing to listen to any opinion to make this thesis more perfect 57 Group Class: GaMBA01.N06 Graduation Thesis REFERENCE Text book: "Strategic Management"; "Human Resource Management" Master Training Program of International Business Administration University Griggs Slides of Strategic Management Subject The following websites: www.vietcombank.com.vn, www.bidv.com.vn, www.vietinbank.com.vn, www.agribank.com.vn, intranet of Vietcombank 58 www.asset.com and ... of Vietnam (Vietcombank) 2.1.1 The Process of Formation and Development of Vietcombank 2.1.2 The Organizational Structure of Vietcombank 2.1.3 Overview of Operations of Vietcombank 2.1.3.1 Mobilization... Quang Hoa HANOI 2011 ii Group Class: GaMBA01.N06 Graduation Thesis Ha Noi, August 20th, 2011 Dear: Management Board of Class GaMBA01.N06 Group Class GaMBA01.N06 Register outline of Graduation... Services 17 17 18 21 21 23 24 25 iv Group Class: GaMBA01.N06 Graduation Thesis in Vietcombank 2.2.1 Status Business of Personal Credit Services in Vietcombank 2.2.1.1 Types of Product 2.2.1.2 Revenue