a report on the internship at vietnam prosperity joint stock commercial bank nam tu liem transaction office

LIST OF ABBREVIATIONS ATM : Automatic teller machine VPBank : Vietnam Prosperity Joint Stock Commercial Bank WTO : World Trade Organization SME : Small and Medium Enterprise.SWOT : Stren

FOREIGN LANGUAGE FACULTY

ACKNOWLEDGEMENT

Working in VPBank – Thang Long branch, Nam Tu Liem transaction office as an internee was such a great pleasure for me First of all, I would like to thank all my workmates, managers and the whole company’s staff for helping me out during my hardest moments experienced at work I was fairly guided with a friendly attitude towards a successful outcome after investing all my efforts and energy throughout the entire duration of my internship

Secondly, I would like to show my deepest and honest appreciation and special thanks to Mr Tran Minh – Director of Nam Tu Liem transaction office, for her impressive and dedicated efforts in motivating me and supporting me with all the necessary knowledge and advice to retain such a valuable experience

Thanks to Mr Nguyen Tien Dung again for all the support throughout the internship period and for helping me out in completing this report

In this report I would give a brief and exact report on the working environment in Nam Tu Liem Transaction Office of VPBank Thanks to this 3-month internship, I have had to myself precious chances to learn from many practical cases I am very much indebted to Ms Dieu Hang and my dear friend who offered me invaluable assistance in completing the Internship Report - the last assignment of mine as a student of Banking Academy

Hanoi, May 2019

STATEMENT OF AUTHOSHIP Student name: Dao Thanh Huyen

Class: K18-ATCB Student Number: 18A7510068 Declaration

I declare that the work attached is entirely my own, and that I have given due acknowledgement as required by Faculty of Foreign Languages

I understand that the work submitted may be reproduced and/ or communicated for the purposes of detecting plagiarism

Signed Date Plagiarism

By signing the declaration, you are stating that you have not plagiarized Use the following as a checklist

This work is entirely my own

I have not copied another student’s work

I have not copied or used in any way material from a text, journal, website or other

published source without acknowledgement (including non – English sources)

I have cited and referenced fully and correctly as required by Faculty of Foreign Languages where applicable

I have not reworded material from another source and presented it as my own

I have not used this work in a previous class (self – plagiarism) _

LIST OF ABBREVIATIONS

ATM : Automatic teller machine

VPBank : Vietnam Prosperity Joint Stock Commercial Bank

WTO : World Trade Organization SME : Small and Medium Enterprise.

SWOT : Strengths, Weaknesses Opportunities, , Threats

LIST OF FIGURES AND TABLES, CHART Figures

Figure 1: Vietnam Prosperity Joint Stock Commercial Bank Logo

Tables

Table 1: The number of employees in 2014-2017

Table 2: VPBank Annual Report in 2018

Charts

Charts 1: The organizational structure of VPBank

Charts 2: Organizational structure in VPBank – Thang Long Branch

EXECUTIVE SUMMARY

I had the chance to work as an internee in the customer relationship department of VPBank- Thang Long Branch After the 26-year development, VPBank has attained significant accomplishments The goal that VPBank has set is to win a place in Top 3 Leading retail joint-stock commercial banks in Vietnam by 2022

Section 1 is dedicated to introduce the background information of VPBank in general and Thang Long Branch – Nam Tu Liem Transaction Office in specific Section 2 aims at specifying the e-banking and related products of Thang Long -Branch from my perspective as an intern in the Customer relationship department Those so far are the elements that cast profound impacts on the general progress of VPBank on both micro and macro scales

My SWOT in section 3 can hopefully re-evaluate and propose certain approaches for VPBank to thrive in the near future especially in the context of WTO

2 The number of employees: 16

3 Main office of Thang Long Branch 16

4 Introductions of all departments 16

5 Comments on the organizational structure 16

CHAPTER II : INTERNSHIP ACTIVITIES AT VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK – THANG LONG BRANCH - NAM TU LIEM TRANSACTION 17

1 A brief introduction of the transaction office 17

1.1 A brief introduction of VPBank – Thang Long Branch 17

1.2 Organizational structure in VPBank – Thang Long Branch 17

2 Starting and ending dates of internship 18

3 Description of internship activities 18

CHAPTER I : INTRODUCTION OF VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK

A Overview of Vietnam Prosperity Joint Stock Commercial Bank 1 Brief introduction

v International name: Vietnam Prosperity Joint Stock Commercial Bank v Abbreviated name : VPBank

v Headquarters: 89 Lang Ha, Dong Da District, Ha Noi

v Authorized capital :25.299.868.790.000 VND v Tax code: 0100233583

Tel: 0243.9288869 Hotline: 1900545415v Fax: 0243.9288867

SWIFT code: VPBKVNVX

v Email: Chamsockhachhang@vpbank.com.vn v Website: http://vpbank.com.vn/

v Business:

• Personal Services: Payroll, Domestic Remittance, International Remittance, Foreign Exchange, Deposit, Custody, On-site Banking, Foreign Currency Audit, Note Counting

• Card Services • Loans • Accounts • Saving Account • E-banking services • Insuarance • VPBank Loyalty

2 Formation and development of Vietnam Prosperity Joint Stock Commercial Bank

• August 12, 1993: Vietnam Joint Stock Commercial Bank for Non-State Enterprises was established

• VPBank was granted official approval by the State Bank to change its name to Vietnam Prosperity Joint Stock Commercial Bank Aftermath of this significant event, VPBank officially introduced a new logo and a brand identity system • From 2010 to now: Vietnam Prosperity Joint Stock Commercial Bank

3 The achievements and number of employees of VPBank through the time

• In 2017, VPBank ranked in Top Asia Employer Brand 2017

VPBank receives 3 prestigious international awards, i.e SME Bank of the Year, Vietnam Domestic Cash Management Bank of the Year Award and New ConsumerLending Product of the Year for ‘Tax+ loan’ product of CommCredit from Asian Banking and Finance

Forbes Vietnam announced the Vietnam’s 40 most valuable company brands, in which VPBank brand was valued at USD 46.6 million, naming it as the fifth most valuable bank brand in Vietnam and the second most valuable joint stock commercial bank brand

Vietnam Report has honored VPBank in Top 3 joint stock commercial banks and intop 10 banks in Vietnam in 2017

Moody’s upgrades VPBank’s credit ratings to B2 from B3

CommCredit was honorred at Top 3 of Vietnam Trade Services Awards in financial services sector

VPBank was honored “Best Banking Brand in Vietnam 2017” by Global Brands Magazine (GBM)

• In 2016, VPBank is honored to be Vietnam happiest place to work, Top 26 Vietnam best places to work and Top 5 Vietnam best banks to work in 2016 “The Asian Banker Vietnam Country Awards 2017- Best Unsecured Lending

Product in Vietnam” by The Asian Banker

• In 2015, Best Commercial Bank of The Year 2015 by International Bankermagazine

Best Practices Award by TDWI (The Data Warehousing Institute) SME of the year 2015 by Asian Banking and Finance (ABF) magazine Best Banking Product 2015 by Global Banking and Finance Review magazine Best Internet Bank 2015 by Global Banking and Finance Review magazine

• In 2014, Vietnam Value Award 2014 • In 2013, Global Banking and Finance Review

Most Innovative Retail Bank Vietnam Award 2013 by Global Banking and Finance Review

Customers’ Trusted Brands Award 2013 by the Intellectual Property Association of Ho Chi Minh City and Saigon Enterprise network

Typical Brand Award 2013 by the Institute of SMEs Research and Development, and Vietnam Business Council

• In 2012, STP Award 2012 by the Bank of New York Mellon (U.S.) Vietnam Value Award 2012

Vietnam Strong Brand 2012,

• In 2011, Top 100 Most Trusted Vietnamese Products/Services Vietnam Strong Brand

Top 500 Biggest Enterprises in Vietnam

Top 500 Enterprises with Biggest Growth in Vietnam

• In 2010, Top Affiliated Bank having excellent network productivity in Vietnam, rewarded by Western Union

Certificate of outstanding straight through processing, rewarded by The Bank of New York – America

Trusted brand in Securities market

• In 2009, Best affiliated Bank of network productivity in Vietnam in 2009 – Best in Productivity - rewarded by Western Union

• In 2008, Top securities company in Vietnam Top JSC in Vietnam

• In 2007, Award “For Vietnamese Entrepreneurs’ culture” granted by Vietnamese entrepreneurs’ culture center

Golden cup for National famous brands

• In 2006, Golden Cup of “Enterprise for the advancement of Society and Sustainable Development”, rewarded by the Vietnam General Confederation of Labor

• In 2005, Certificate of outstanding straight through processing, rewarded by Union Bank, USA

Table 2: VPBank Annual Report

123,787,372 130,270,670 133,550,812 170,850,871

4 Loans and investments

4.1 Loans and advances to customers

116,804,247 144,673,213 179,518,809 218,395,223

4.2 Investments to securities

47,744,838 55,339,896 51,926,416 53,558,049

5 Profits before tax

In 25 years of operations, VPBank has increased its charter capital to VND15,706 billion, expanded the number of transaction points to over 219, and grown its workforce to more than 24,000 employees

VPBank is taking steps to reaffirm its reputation as a dynamic, financially stable bank which is responsible to the community 2017 marked the end of VPBank’s five-year journey to become one of the leading commercial joint stock banks in -Vietnam, with splendid results in terms of both scale and profit VPBank also reached a historic milestone, listing nearly 1.5 billion shares on the Ho Chi Minh City Stock Exchange (HOSE), which grabbed significant attention from both domestic and foreign investors

VPBank’s remarkable growth is vividly illustrated by the expansion of its branch and transaction office network and the diversity of sales and distribution channels VPBank’s team of professional employees with excellent ability in banking and finance have a good sense for a modern and integrated business

environment…Thanks to their contribution, VPBank remains the primary choice for large corporations, domestic and foreign enterprises as well as millions of individual customers

4.1.2 Accounts

• VPSuper Account • Current Account 4.1.3 Card Services

• VPBank StepUP credit card • VPLady Credit Card • Autolink Card

4.1.4 Saving account

• Prosperity-preserved Savings • Easy Saving

• Prosperity Saving with Floating Internet Rates 4.1.5 Loans

• Loans for overseas education

• Personal instalment Loans with Collaterals

• Loans Secured By Valuable Papers Issued By VPBank 4.1.6 Insurance

• Credit card-insurance services

• Insurance for women – VP LADY CARE4.1.7 VPBank Loyalty

• Frequently Asked Questions • Gifts

• Medium or long-term loans for investment in fixed assets or business projects

4.2.2 Services & Trade Finance • Notification of L/C • Verification of L/C • Discount Export L/C • Documents Collection • Export funding before delivery • Export funding after delivery • Documents Collection

5 Competitors

All the banks in Vietnam are competitors to each other in general Competitors of VPBank are the commercial banks in Vietnam, for example: Asia Commercial Joint Stock Bank, Vietnam Technologicar and Commercial Joint Stock Bank, Vietnam International Commercial Joint Stock Bank,

B Organizational structure 1 Organizational chart

Chart 1: The organizational structure of VPBank

(Source: VPBank Annual Report 2018)

2 The number of employees: Table 1: The number of employees:

Total employees (including its subsidiaries)

The amount of staff

(Source: VPBank Annual Report)

3 Main office of Thang Long Branch

Address: M3-M4 Building, Nguyen Tri Thanh street, Dong Da District, Hanoi, Vietnam

Phone number: 024 6266 2577Fax number: 024 6266 2573

4 Introductions of all departments

To ensure its safe and effective operation, the protection, management and safe and efficient use of its assets and resources, to ensure its timely and adequate financial and management information, as well as to ensure compliance with laws and regulations, internal regulations, VPBank has been establishing and maintaining an internal control system in accordance with requirements, regulations and the best international practices for internal control and risk management

The supervisory responsibilities are assigned to the Board of Directors (“BOD”), the Chief Executive Officer (“CEO”) and the Supervisory Board (the “SB”) The BOD and the CEO are assisted by the following Committees and Councils: Internal Control, Risk Management Internal Capital Adequate Assessment Internal Audit , ,

5 Comments on the organizational structure

VPBank is organized and operates in a manner in which the central bank acts as a core business and operating as a holding company; while other financial and non-financial activities act as subsidiaries

CHAPTER II : INTERNSHIP ACTIVITIES AT VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK – THANG LONG BRANCH NAM -

-October 22, 2005, VPBank inaugurated its 28th transaction point Thang Long Branch which was the first branch to apply the finalized brand identity system of VPBank’s new released logo in Hanoi

Thang Long Branch in Ha Noi has transaction offices located on conspicuous streets within an easy reach for most people

1.2 Organizational structure in VPBank – Thang Long Branch

The organizational structure of Thang Long Branch: According to Decision No 481-2002 / QD-HDQT dated July 19, 2002 of the Chairman of the Board of Directors on promulgating the organizational and operational regulations of the branch, the organizational structure of Thang Long Branch includes the following professional departments:

Those transaction office of Thang Long Branch is located on main streets of Hanoi including Nam Tu Liem office

2 Starting and ending dates of internship

Starting date: February 22nd, 2019 Ending date: May 28th, 2019

3 Description of internship activities

At 9:00 am on Feb 21stI arrived at the Transaction Office of Nam Tu Liem to be interviewed for a position in Private Customer Relationship Department Waiting for my turn, I had butterflies in my stomach under judging eyes of people surrounding me Finally the director came and all employees stopped their ongoing tasks to stand greeting him respectfully Fortunately, I passed the interview to start working as an intern in morning shifts since the following morning I left the office in excitement looking forward to working for that hospitable director

Feb 22th was the first day of my internship That morning, I had to wake up much earlier than usual to come to the office on time at 8:00 Entering the room, I received a load of questions: “What’s your name?” “How old are you?” “Why do you apply for this job?” Then they suddenly turned to mock a guy coming late and someone said “Hey Dung, there is a new junior in our team today” Later on I found myself sitting next to a female compatriot After a couple working hours, I felt Dung – the junior member I’ve mentioned above – was one of the most impressive members People had another chance to mock Dung again when Mr Director assigned him as my instructor and told me to sit near him As he was introducing

Transaction department

Treasury

department Accounting department

International Relations department

department Administration department