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ACKNOWLEDGEMENTS Firstly, I want to give a special thanks to Mrs Sonia Adam Ledunois and Mr Pham Tuan Anh, who is my tutor and taught me a lot during the time I was in the process to complete this rep[.]
ACKNOWLEDGEMENTS Firstly, I want to give a special thanks to Mrs Sonia Adam-Ledunois and Mr Pham Tuan Anh, who is my tutor and taught me a lot during the time I was in the process to complete this report You pointed out many important things without which I cannot finish my essay Besides, I would like to thank Ms Ly Thi Khanh Hoan – the branch director and Mr Luong Duc Bao - my manager at Seabank Dai An for helping me complete my responsibility and also other supports during my 3-month internship process Even though I had a lot of mistakes but all of you still understand me and keep helping me unconditionally Lastly, I’m so happy because all of you helped me a lot during my internship and I really respect it i Luan van CONTENTS ACKNOWLEDGEMENTS .i CONTENTS .ii LIST OF TABLE iii LIST OF FIGURE iv PREAMBLE .1 PART 1: OVERVIEW OF SEABANK AND THE DAI AN BRANCH 1.1 About Seabank .2 1.2 Host Firm: Seabank’s Dai An Branch 1.3 The reason why i choose this topic 1.4 Missions of internship .5 PART 2: WORK PLACEMENT EXPERIENCE AT SEABANK, DAI AN BRANCH 2.1 Over view of Credit support department .6 2.2 Overview of my work placement: 2.3 About car loan product at Seabank 2.4 My jobs at branch Dai An and case studied .11 Mission 3: Comparing with competitor 17 2.5 Commercial result and KPIs .20 2.5.1 Results of host firm 20 2.5.2 My commercial results 20 PART 3: WORK PLACEMENT ASSESSMENT 22 3.1 Contributions 22 3.2 Some difficulties encountered during my internship: .22 3.3 My experience gained 23 3.4 Future career plan 23 CONCLUSION .25 REFERENCES .26 ii Luan van LIST OF TABLE Table 1: Project implementation plan Table 2: Loan term – loan limit 10 Table :My daily jobs at branch .11 Table : Evaluating the credit score 12 Table 5: Total score of customers influencing credit decision 13 Table : The credit score of Mr.A .14 Table 7: Business case - Property purchase loan .15 Table 8: Business case - Property purchase loan .16 Table Seabank compares with competitors on car loan market 17 Table 10 : SWOT .18 Table 11: Summarized KPIs of Seabank Dai An .20 Table 12: My total commercial result after months 20 Table 13 : Future plan 24 iii Luan van LIST OF FIGURE Figure 1: Organisational structure diagram of Seabank’s Dai An Branch .4 Figure : 5C Rule .4 Figure : My department’s organization iv Luan van PREAMBLE My work placement or internship is performed during months at the Dai An Branch of Seabank During these months, I was assigned various tasks in the retail banking division of the branch The area that I spent most time on is car loans With the help of my supervisor, Mr Luong Duc Bao and other staffs, I was able to acquire many new skills and knowledge in retail banking, especially home loans However, while handling home loan applications of customers, I also recognized a number of shortcomings at both the bank and branch level In this work placement report, I will elaborate on the experience I have undergone during my internship and Seabank Dai An branch, the skills that I have acquired and my contributions to the host firm’s retail banking division, especially with regards to car loans Luan van PART 1: OVERVIEW OF SEABANK AND THE DAI AN BRANCH 1.1 About Seabank a History of Seabank General introduction about SeABank In 1994, the Southeast Asia Commercial Joint Stock Bank – SeABank is one the first Vietnamese commercial joint stock banks Proud of its achievements of the past few years, SeABank has been ceaselessly perfecting its products and services to pursue the policy of sustainable development, aiming to be among the leading commercial joint stock banks in Vietnam Ranked A for consecutive years by the State Bank of Vietnam, SeABank has been known as one of the fastest growing, and most sustainably developing banks With a team of young, dynamic, wholehearted, and professionally trained staff, SeABank is committed to provide the best products and services while working as a reliable partner in the industry of financial banking to be Head office: Tel 16 Lang Ha str., Hanoi, Vietnam (84) 7723616 – Fax (84) 7723615 E-mail: seabank@seabank.com.vn Website : www.seabank.com.vn b Vision, mission and main objective Mission: SeABank strives to become a Banking-Financing Group (SeABank Group) with outstanding values of brand reputation and asset quality in Vietnam market and gradually in regional markets The bank commits to provide a range of highly professional products, from conventional commercial banking to high-end investment banking and financial services Luan van to targeted customer segments, to optimize the values for bank customers, shareholders and the sustainable growth of bank group, to contribute to the mutual development of the community and the society Vision: SeABank strongly develops its system under the architecture of a highly effective versatile retail bank, and gradually establishes the model of a professional investment bank SeABank is developing fully as an advanced versatile banking-financing group who has striking values of competitiveness, quality and brand reputation C, Develop strategies Vietnam, with the characteristics of an emerging market, is actively integrating under the trend of globalization As a result, a variety of financial and banking needs is arising, from living quarters to industrial zones, from manufacturing, trading to infrastructure financing, etc Those opportunities are explored at various levels subject to the selection of strategies of each financial institution Customer-focus organization model Consolidation and development of strong competitive advantages to ensure the capability of recognizing and converting opportunities into transaction and developing sustainable financial indicators Re-establishment of standard and processes to ensure centralized management yet maintain necessary flexibility of business variety in important areas Application of best practices of risk management and business development 1.2 Host Firm: Seabank’s Dai An Branch Seabank’s Dai An Branch was founded on 08th November 2007 For ten years of development, the branch currently has three transaction offices with total of 55 staff Together with the whole bank, the branch’s board of managers has always tried to improve its business performance, affirming position of branch in the branch as well as in financial market In 2013, the branch rewarded certificate for merit from Board of Director for the branch’s contributions Luan van Figure 1: Organisational structure diagram of Seabank’s Dai An Branch Seabank’s Dai An Branch provides all of banking services and products of Seabank However, the Branch’s current business strategy aims to retail customers, especially household and individual customers around the area Some major services include: car loans, home loan, credit card… These retail products create higher profit and lower risk than services for corporate customers Working style “5C Rule” 5C rule is a standard system which staff should apply to communicate with customer anytime, anywhere It helps a lot to build Seabank to become strong Brand in Vietnam Finance Market Because bank have the satisfaction from customer, have believes and the loyal It’s more important than the good health of financial index Figure : 5C Rule 1.3 The reason why i choose this topic In 2016, the Uber and Grab taxi service in Vietnam has officially deployed Therefore, people who have their own car now can make extra money So, for people with a stable job who want to make a loan from the bank could buy their dream car In the years later, there were 36,809 vehicles involved In particular, Ho Chi Minh City has 21,601 vehicles participating in the Driver; Hanoi 15,046 vehicles participating in the Driver (http://ictnews.vn) This branch is in the area that refer to the most developed area of District in particular and Hanoi City in general (high population: 236.981 people (in 2010) with total area of 12.04 km²) In this area, there are many big companies, corporations, attracting lots of workers, so the demand of transportation is very high Beside, Seabank bank has a good reputation in banking sector and community so believe in Seabank's services With the special treatment Luan van from the bank for customers when they make a loan, this service will become more and more popular in near future 1.4 Missions of internship Table 1: Project implementation plan The duration of the project: 04/02 /2017- 04/05/2017 Date of start Phase A : Create a good relationship with host firm and all Date of final 04/02/2018 13/02/2018 Task : Defining the bank 04/02/2018 04/02/2018 Task : Studying the bank’s services are offered by this bank 05/02/2018 08/02/2018 Task 3: Studying the customer needs and market 09/02/2018 12/02/2018 12/02/2018 13/02/2018 14/02/2018 12/03/2018 14/02/2018 19/02/2018 20/02/2018 10/03/2018 11/03/2018 13/03/2018 Phase C : Survey for customer needs 14/03/2018 02/04/2018 Task : Searching information about other banks car loan service 14/03/2018 18/03/2018 20/03/2018 02/04/2018 03/04/2018 17/04/2018 03/04/2018 13/04/2018 Task 14 : Work directly to solve customer problems 13/04/2018 20/04/2018 Phase E : Complete my internship 21/04/2018 04/05/2018 Task 19 : Synthesize the results and evaluate them 21/04/2018 24/04/2018 Task 20 : Completing the final report 25/04/2018 28/04/2018 Task 21 : Final check the project 02/05/2018 04/05/2018 staffs Task : Understand working procedure and work like full time employee Phase B : Try to work effectively on new position Task : Learning this service at car loan service at Dai An branch and the competition each others Task 6: Find out the advantages and disadvantages of this service to Seabank – Dai An Task 7 : Making a comparison of the services provided in relation to the activities of private savings Task 9 : Make the comparison and ask tutors, co-worker to have accurate result Phase D : Find customer and successfully sign new contract about car loan Task 13 : Learning about procedure and other service to gain knowledge PART 2: WORK PLACEMENT EXPERIENCE AT SEABANK, DAI AN BRANCH Luan van 2.1 Over view of Credit support department My internship took place in the context of the home loan and I go to the bank as an apprentice With the purpose of learning and practicing in the real banking environment and obtaining the manager's permission as well as guidance, I joined in the Credit service department as an assistant of mr Luong Duc Bao – customer relation officer Individual customer department is one of two main divisions of Seabank Dai An branch The room includes bank officer, and one manager The manager not only takes responsibility for managing the brand but also sells as a staff Figure : My department’s organization Credit Department has the function of organizing, managing and implementing investment loans from Seabank Dai An branch and other sources of funds, specifically: - Drafting credit contracts, co-financing contracts, loan security contracts, notarization and registration of secured transactions for loan security assets - Manage the disbursement of contracts, follow up, the director of debt recovery, full interest payment on time - Perform periodical inspection before and after disbursement in order to manage the disbursement for the right purpose and the right beneficiaries; - Monitoring and evaluating the effectiveness of investment projects and financial situation of customers in order to ensure timely and timely return of capital and interests Luan van Table : Evaluating the credit score N Credit Quality Objectives Occupation of the borrower: + Expert or in charge of business + Experienced workers + Office staff + Students + Workers have no experience + Unemployed workers Housing status: + Private house + Rented house or apartment + Live with friends or relatives Credit file: + Good + Average + No records + Bad Point 10 10 Professional experience: + More than year + From year or less Time to live at the current time: + More than year + From year or less Phone: + Yes + No People living with (depended) + No + One + Two + Three More than Bank accounts: + Both savings account and credit card + Savings account only + Only accounts released credit product + No 2 3 4 (Source: Credit department) 12 Luan van Customers have the highest score on the model with 43 points, the lowest is points Suppose that the bank knows 28 points as the boundary between the customers having good credit and the customers with bad credit, from which the bank forms the credit policy framework according to the score model as follows: Table 5: Total score of customers influencing credit decision Under 28 points Deny 29-30 Points More than VND 50M 31-33 Points More than VND 120M 34-36 Points More than VND 250M 37-38 Points More than VND 380M 39-40 Points More than VND 500M 41-43 Points More than VND 800 M Case study 1: Customer A a General information: Customer A have been working at PWC (Big of world audit firms) as a manager for 10 years He got married and have child He have been living with his parents at Hai Ba Trung Street since he was boned He have no overdue debts and excellent credit profile He uses a lot of Seabank services include saving and lending b Loan information Loan requested: 800 million VND Term: years Car requirement: Mazda (Japan) Vehicle status: Brand new Car price: 1150 million VND after Tax Interest rate: 6,9 % on first year, following years 13,5% Loan margin: +- 4,1% Interest type: Floating rate c Analyze customer From the information provided by the customer, we can calculate the abiliy of obtaining a loan from a client 13 Luan van Table : The credit score of Mr.A N Credit Quality Objectives Occupation of the borrower: + Expert or in charge of business Point 10 Housing status: + Live with friends or relatives Credit file: + Good 10 Professional experience: + More than year Time to live at the current time: + More than year Phone Email: + Yes 2 People living with (depended) More than Bank accounts: + Both savings account and credit card Total score: 10 + + 10 + 5+ 2+ 2+ 2+ =37 d Negotiation result From above score, we can see that with a score of 37, in the face of the loan limit, customer A can borrow from VND 380M to VND 500M, With the loan amount requested (VND 800 million) The purpose of the customer when borrowing is the amount that has NOT been met Me and customer A were NOT able to sign the contract One week later, I made an appointment with client A to meet at the office to renegotiate the deal as well as find a way to solve the problem of borrowing money from customer A He did not arrive on time, when I phoned The reason why customer A did not come to him was: "I have found a bank that is more suitable for my loan, they have accepted my loan 800 million VND easily" When I asked Name of the bank, Customer A said it is Maritime Bank I regret that I could not agree to the contract with customer A Through that I also learned the lessons for myself and the shortcomings of the product Mission 2: Handling Car loan Applications Since Mar 29th, I am charged with handling car loan customers from Seabanksponsored projects The process is fairly straightforward since the contractual value of property is used without further appraisal The Loan-to-value ratio is up to 90%, depending on 14 Luan van borrower's income and financial status (credit history, savings, etc.) Seabank has an automated system to determine the loan-to-value ratio and interest rate Also, real estate brokers are adept at helping their clients prepare the required documents, which reduces processing time My work is reviewed by one of the four personal bankers before being submitted to the control and manager for approval My participation helped reduce the burden at the personal banking desks Each week, I was able to handle from 10 to 15 cases Case study 2: Customer B Table 7: Business case - Property purchase loan Customer information Mr H Male Age: 38 Marrital status: married with children Financial product Toyota Vios (made in Vietnam, brand new) Car value As contracted: VND 650,000,000 Loan amount 80% of property value: VND 520,000,000 requested Financial situation Job: Architect Monthly income: stable, at least VND 18,000,000; long time contract Total income per month: VND 48,000,000 Assets: Owned house at Ha Noi value VND 1200 million Risk assessment Income risk: significant income risk due to unstable income stream and employment Mortgage risk: Collateral is less than the loan This loan is based on proof of income and savings deposited in Seabank Proposal customer Negotiation results Other risks: children (increases financial burden) Overall assessment: Fairly strong credit profile for I proposed a maximum loan of 80% property value for this customer for the term of years and Customers want to borrow 520 million VND in years With floating rate, margin of 3% Preferential interest rate in the first year is 6.9% per year The principal amount of the monthly pay is 7,22 million VND with interest after Preferential interest rate about 12% Customer A can easily repay his loan Approved 15 Luan van Case study 3: Customer C Table 8: Business case - Property purchase loan Customer Mr H information Male Age: 31 Marrital status: married with children Financial product BMX 521i (Euro car, brand new) Car value As contracted: VND 1,850,000,000 Loan amount 80% of property value: VND1,480,000,000 requested Financial situation Job: Café shop manager Monthly income: stable, at least VND18,000,000; long time labor contract Total income per month up to:VND 24,000,000 Assets: Owned house at Ha Noi value VND 1.1 billion Risk assessment Income risk: very low because of stable income and long time contract Mortgage risk: Collateral is less than the loan Other risks: children (increases financial burden) Overall assessment: Strong credit profile Proposal customer Negotiation results for I proposed a maximum loan of 80% property value for this customer for the term of years and Customers want to borrow 1,48 billion VND in years With fixed rate, margin of 3% Preferential interest rate in the first year is 6.9% per year DTI = (1.48B / 60 + 1,48B X 6.9%/12 ) _ = 138,2% > => DENY 24.000.000 The bank refuses the loan 16 Luan van ... 1: OVERVIEW OF SEABANK AND THE DAI AN BRANCH 1.1 About Seabank a History of Seabank General introduction about SeABank In 1994, the Southeast Asia Commercial Joint Stock Bank – SeABank is one... (84) 7723615 E-mail: seabank@ seabank.com.vn Website : www .seabank. com.vn b Vision, mission and main objective Mission: SeABank strives to become a Banking-Financing Group (SeABank Group) with... iv PREAMBLE .1 PART 1: OVERVIEW OF SEABANK AND THE DAI AN BRANCH 1.1 About Seabank .2 1.2 Host Firm: Seabank? ??s Dai An Branch 1.3 The reason why i