Luận văn thạc sĩ xây dựng chiến lược kinh doanh bán lẻ tại ngân hàng TMCP VIB

LUẬN VĂN THẠC SĨ Xây dựng chiến lược kinh doanh bán lẻ ngân hàng TMCP VIB THESIS TITLE BUILDING UP A RETAIL BANKING BUSINESS STRATEGY IN PERIOD OF 2015-2020 FOR VIETNAM INTERNATIONAL COMMERCIAL JOINT STOCK BANK (VIB) TABLE OF CONTENTS Acknowledgements ………………………………………………………………… i Table of Contents …………………………………………………………………… ii List of Tables ……………………………………………………………………… iii List of Figures & Graphs …………………………………………………………… iv PREFACES ………………………………………………………………………….1 Chapter – Literature review on business strategy …………………………… 1.1 Concepts and role of corporate business strategy 1.1.1 Some concepts on business strategy ………………………… 1.1.2 Roles of business strategy …………………………………… 1.1.3 Business strategy models …………………………………… 1.1.3.1Linear strategy model ………………………………… 1.1.3.2 Adaptive strategy model …………………………… 1.1.3.3 Interpretive strategy model ………………………… 1.2 Formulation process of comprehensive business strategy …………… 10 1.2.1 Selection of corporate mission and objectives ……………….11 1.2.1.1Mission ……………………………………………….11 1.2.1.2 Vision ……………………………………………… 11 1.2.1.3 The business objectives …………………………… 11 1.2.2 The external environment analysis and evaluation ………… 12 1.2.3 The internal environment analysis …………………………… 12 1.2.4 Selection of business strategy ……………………………… 13 1.2.5 Strategy implementation ……………………………………… 15 Chapter – Analyzing the current retail banking services in Vietnam International Joint Stock Bank (VIB) …………………………… 16 2.1 Overview on Vietnam International Bank ……………………………… 16 2.1.1 General introduction, mission and commitment of VIB …… 16 2.1.2 Highlights in the history of development …………………… 18 2.2 Analysis of impacts of business environment at all levels …………… 19 2.2.1 International financial – monetary crisis & world economic recession ……………………………………………………………… 19 2.2.2 Economy of Vietnam …………………………………………… 20 2.2.3 Environment for activities of Vietnam banking sector …………… 25 2.2.3.1 Context and activity trends of Vietnam banking sector … 25 2.2.3.2 Structure and size of Vietnam banking industry ………… 28 2.2.3.3 Rivalry evaluation in Vietnam banking industry ………… 30 2.2.4 Overview on the Vietnam retail banking market ………………… 35 2.3 Opportunities and Threats for Vietnam retail banking operation …………… 39 2.3.1 Opportunities of the retail banking operation …………………… 39 2.3.2 Threats of the industry …………………………………………… 42 2.4 Internal analysis of Vietnam International Bank (VIB) …………………… 43 2.4.1 Structure organization, products and operations of VIB ………… 43 2.4.1.1 Structure organization ………………………………… 43 2.4.1.2 VIB’s products and services …………………………… 44 2.4.1.3 Performance of VIB in retailing bank services ………… 45 2.4.2 Strengths of VIB ……………………………………………… 48 2.4.2.1 Regarding Core-banking technology ………………… …48 2.4.2.2 Regarding customer services quality and policy ……… …48 2.4.2.3 Regarding financial resources ………………………… …49 2.4.2.4 Regarding operation network ………………………… … 49 2.4.2.5 Regarding organization and personnel structure ……… … 50 2.4.2.6 Regarding operation management …………………… … 50 2.4.2.7 Regarding image and trademark ……………………… … 51 2.4.2.8 Regarding quantity of customers ………………………… 51 2.4.3 Weaknesses of VIB ……………………………………………… 52 2.4.3.1 Regarding VIB’s position in Vietnam Commercial Joint Stock bank system ………………………………………………… …52 2.4.3.2 Regarding trademark image ………………………… ….53 2.4.3.3 Regarding the financial scale …………………………… 54 2.4.3.4 Regarding business performance ………………………… 54 2.4.3.5 Regarding operation management ……………………… 55 2.4.3.6 Regarding organization structure …………………… .56 2.4.3.7 Regarding product development ……………………… 56 2.5 Conclusion ……………………………………………………………… 57 Chapter – Building up a retailing business strategy for VIB in the period of 2010 – 2013 - Solutions and Performance Schedule ……………………………… 58 3.1 Strategy selection ………………………………………………………… 58 3.2 Strategic contents ………………………………………………………… 63 3.2.1 Overview of VIB’s strategy objectives ………………………… 63 3.2.2 Specific plan for VIB retail banking services to 2013 …………… 64 3.2.2.1 Business objectives of retail banking in each period …… 64 3.2.2.2 The strategy orientation and operation methods ……… 64 3.3 Strategy implementation solutions ……………………………………… 65 3.3.1 Customer orientation …………………………………………… 65 3.3.1.1 Determining the target customers …………………… 65 3.3.1.2 Organization model re-structure on the direction of customer – centered ……………………………………………………… 69 3.3.2 Product and Price Development …………………………………73 3.3.2.1 Products ……………………………………………….73 3.3.2.2 Product’s price ……………………………………… 74 3.3.3 Distribution channels ………………………………………… 75 3.3.4 Marketing and Trademark …………………………………… 77 3.4 Implementation roadmap ……………………………………………… 80 3.4.1 Implementation schedule ……………………………………… 80 3.4.2 Implementation when converting the structure of branch model …81 3.4.2.1 Setting up a project team on new business strategy model conversion …………………………………………………….81 3.4.2.2 Communication ……………………………………… 82 3.4.2.3 Problems on human resource investment training …… 82 CONCLUSION …………………………………………………………………… 84 REFERENCES …………………………………………………………………… 87 LIST OF FIGURES No Figure No Figure’s Name 1.1 Strategy Types 1.2 Strategy Implementation 3.1 VIB’s Retail Bank Region 3.2 VIB Business Units 3.3 Project team on new business strategy model LIST OF GRAPHS No Graph No Graph’s Name 2.1 Vietnam Retail Banking market 2.2 Customer rate of banking service 2.3 Loan Expansive level 2.4 Vietnam Commercial Joint Stock Bank as per total assets 2008 LIST OF TABLES No Table No 1.1 Table’s Name SWOT Matrix 2.1 Forecast on Vietnam basic economic indicator in 2010 – 2013 2.2 Number of banks in the period of 1997 – 2007 2.3 Data on growth criteria of Vietnam banking industry 200 - 2007 2.4 Loan market share in the period of 2000 – 2007 2.5 Mobilization market share in period of 2000 – 2007 2.6 Performance of retailing business of VIB 3.1 VIB’s SWOT Matrix 3.2 Business objective of retail banking in each period 10 3.3 Distribution Channels of VIB PREFACES Nowadays, the international economic integration is indispensable trend in developing countries For Vietnam, the international integration is a proper and significant direction, acting as a premise for constructing the position in the international arena and bringing series of opportunities to the prompt and sustainable development for the national economy However, the integration also gives out big threats to Vietnamese enterprises; especially the commercial banks – the special enterprises operating in monetary- credit fields To conquer the threats and optimizing good opportunities, Vietnam Commercial Banks are required to select a sound direction, applying a sensible and timely business strategy The banking integration requires Vietnamese Commercial Banks to promptly launch their coverage development, technical investment and management improvement Modern technology, management competence and abundant financial potential of overseas banks will be the basic advantages, creating competition in the banking industry resulting in the Vietnamese banks’ capital increase, technical investment, management reform and modernization of the payment system to improve performance and competitiveness It is possible to say that in such a cut- throat competition and difficult context as present, any banks who take a proper strategy, optimize opportunities and well match with the threats will be the winner and their position in the world financial banking market will be stable The availability of commercial banks in most of the socio- economic activities proves a fact that “where a commercial bank system develops, there obtains high development of the socio-economy and vice versa” With response to the urgent issue of having a strategy to develop the commercial banks synchronously and effectively, making contribution to the national economic development in the trend of international economic integration, majority of group 10 investigate the practical experience of other nations to construct, implement and manage their retail product list in the most effective manner Currently, Vietnamese commercial banks often make mistakes of “product pursuing” to catch up with other banks without the practical effect of such product on customers and themselves Therefore, in order to study and develop selected customer- oriented product development, the product development strategy must be creative based on the distinctive competition in line with selected target- customers segment With high- value and affluent family household as target customers, customers’ demand is relatively diversified Therefore, product design must be suitable with their target customer segment and product package for sales enclosed with other retail banking services such as saving and investment products, savings and loan, savings and payment account, etc or new utilities are introduced to customers’ payment account such as alleviated accounts among family members On the other hands, when selecting the product characteristics, VIB Bank must confirm the distinctive feature of product as per VIB Bank’s core values; avoid copy products from other banks However, when a customer- oriented product is developed, VIB Bank must select the right time as well as market to “launch” products timely, thence, VIB Bank can test and verify new products – basis to improve and develop products to bring the highest performance to bank 3.3.2.2 Product’s price Low price competition strategy focuses on service quality because whatever the products are good, price is low but service quality is poor, then such products will be less competitive, the bank’s trademark will be affected Moreover, banking is a service; hence, service quality must be good to have high competitiveness Unlike retail banking strategy of overseas banks in Vietnam, VIB Bank should only focus on products- services which they can better or new products- services having no provider to retain and occupy the market then develop the trademark, 82 avoid excessive investment in capital- intensive products- services, high technology covered by the best provider in the market Currently, with mobilized structure of 98% term deposit, mobilized cost price of VIB is very high, affecting the operating efficiency In the long term, reduction of mobilized capital price should be promoted With affluent target customers, need of using banking services is very high, account transaction is regularly made Therefore it is required to have account utility increase such as connectivity between payment account and savings account so that customers can actively make e-savings or transfer from savings to payment account for convenience Progressive interest can be released I n line with account balance to attract customers Besides, customer policies or full-packaged products mobilized from payment deposit with credit products It is expected that to 2013, structure of mobilized capital will be 85% of term mobilized fund and 15% mobilized from payment deposits 3.3.3 Distribution channels Distribution channel is one of the keys to the success of retail bank Previously, bank was a place where customers came to transact However, currently, customers wish to transact with bank at any time, any where Therefore, in addition to the traditional distribution channels, e-banking service (phone banking, internet banking, mobile banking, etc.) is one of the strengths to compete among banks Through investigation, annalists found that customers use different distribution channels for different purposes, in which customers wish to make direct transaction when buying high- value items, for the regular and unnecessary transactions such as money transfer, invoice payment and periodic payment order, and then customers will use the remaining channels The distribution channels at present and in future in VIB are as follows: 83 Distributio n channels Available distribution channel in 2009 Brach External /POS agent Partners Mobile Internet Mail Call Center Branch: Transaction 100 ATM center: 64 and 2000 Savings POS Insurance: 100 Real estate: 42 agents Automobile: 91 Not Applied Applied applicabl Applied e Others: 450 fund: Available It is distribution required to channel in expand up 2009 to 239 units • ATM To be 350ATMs Enhanced developed and 5000 to 250 Insurance:5 POS agents Estate: 100 Introduce Improved more Improved Improved utilities Auto: 130 Table 3.3 One of traditional distribution channels occupying a large density in banking operation is a network of BUs Retailing characteristics depends relatively on location, hence, the more extensive the network is the more advantageous it has, especially in fund mobilization field To effectively perform with low cost, it is supposed to develop compact- model transaction centers and savings fund in crowded residential areas, economic areas, quickly responding to the need of using banking service of residents • It is supposed to cooperate with insurance companies, automobile sales agent, investors of urban areas, tenement building area, real estate exchange, supermarket system, entertainment are, tourism resorts, etc so that staff of such companies will be distributors for VIB Bank • It is required to expand toward provinces and cities to create a popular image in customers and residents nationwide, quickly expand market share and compensate for switching to the substitute products in key locations In addition to maintaining and developing the distribution channels, VIB must promptly complete and develop e-banking distribution channel- which is inherently advantageous such as fast, safe, time and cost savings for both bank and customers 84 • Besides the traditional direct distribution channels and e-distribution channels, VIB must strengthen the indirect distribution channels such as implementing customers’ customer strategy (for example, loan for buying house, land from projects which VIB Bank offers loan for investment), especially real estate distributor and automobile agent These are two partners need to be strengthened to develop in the coming time • It is assumed to apply the flexible working hours, servicing out of the working hours, public holidays and weekends to facilitate the customers’ transaction who are administrative officers Besides, VIB Bank should promptly establish subsidiaries or joint stock companies to diversify and make cross- sales to construct a financial group 3.3.4 Marketing and trademark As far as we know, a brand interior contains prestige, bank’s committeemen of long term development, customers’ evaluation and experience summary on banking in the market Therefore, branding will help customers easily to identify which bank is, what is the core value of such bank? What value does the bank have? In other words, banking branding is to create a good image on bank in the customer’s thinking, attach banking trademark with each type of product, attaching trademark with image of bank to be embossed in customers’ mind Hence, banking managers must combine the banking branding with planning the business strategy for any products Moreover, trademark is a tool to protect the bank’s benefit When the trademark is registered with the State, it will become the invaluable assets The bank has rights to use, advertise and exploit all added values from their trademark (procurement, transfer, etc) The legal ownership of a trademark enables the bank to launch the exclusive business or exploit benefit brought by the trademark Over 13 years of establishment and operation, VIB trademark has been seriously and systematically built from designing logo, slogan, brand identity set, especially determination and consensus of Board of Directors, Board of 85 Management and all employs in operation to make the bank to become a leader in the market With slogan of “An whole-hearted bank” and motto of “customerorientation”, VIB Bank is widely identified by the public and competent authorities through prizes such as “famous trademark” awarded by Department of Intellectual Property, prize of “enterprise with high quality products and services” selected by readers of Sai Gon Marketing Newspaper, “Golden Globe Awards” by VCCI However, according to a study conducted by AC Neilson, not many people recognize VIB Bank Therefore, VIB Bank must strengthen the identification level 66% consumers have no intention to use VIB Bank’s services because VIB Bank is a stranger to them One thing VIB Bank should consider carefully whether they wish to position as a domestic bank or international one If it is positioned as an international bank, it is advantageous that consumers thought of the best quality whereas in case of a domestic bank, service quality will be evaluated as something between the state owned bank and the overseas banks with flexible procedures Therefore, to strengthen the brand identification and create a strong impression in customers’ heart, VIB Bank must closely attach products and process with the trademark image Construction of a complete and professional trademark identification system is made through following elements: • Graphic identification  Decisive color of the bank  The bank’s trademark color palette • Mass media identification  Publication: General brochure on the bank, brochure of introducing products, annual reports, leaflets for introducing service types, etc 86  Poster of various types: Calendar and postcard, gift envelope, nylon bags, ads sample of launching new branches, overseas advertising, recruitment advertisement form, etc  Office forms: Various type of heading, envelope, name card, staff nameplate, badge; CD envelope, CD label, introductory letter, etc, system of forms, documents: papers relating to customers’ transaction: Loan, international payment, foreign exchange, etc, form of official documents arrived and departure, decree, decision, notice and statement, etc  various type of signboard: Various types of signboards in head office, branches, transaction office, parking plate, sign board to departments, bulletin board, outdoor panel, sequential number waiting light board, foreign exchange board; customer welcome board, banners used in conference, sponsor programs and great events, etc  Gifts: Lock hooks, paper bag, pen, hat, glass and its saddle, clock, helmet, pullover, rain coat, bubble, name card box, computer mouse saddle, staff uniform, etc When completing the brand identification, VIB Bank must combine with advertising, PR (Public Relations), Event (Event organization), Media and program sponsor to maintain and develop the trademark through design the specific development programs and advertising forms such as: • Television: Advertising on the provincial and municipal television channels where VIB Bank’s branches are available, in the weekend film show programs, football match, badminton, etc as well as others sports when Vietnamese players are available • Newspaper: Advertising on newspapers including Tuoi Tre, Thanh Nien, Sai Gon Giai Phong, Vietnam Economics Times, etc 87 • Internet: Posting logo and links at websites such as www.vnexpress.net, tuoitre.com.vn, thanhnien.com.vn, etc • Others: Partners who are VIB Bank customers (production and business enterprises, projects which VIB Bank have or will invest, factories, companies operating in the art media field, etc) 3.4 Implementation roadmap 3.4.1 Implementation schedule VIB determines the new business strategy implementation roadmap in accordance with each period and specific problem under the “myriapod” manner as follows: Period of 2009 – 2010: is a basic period, acting as a drive for the next periods In this period, VIB Bank focuses on human resource training and development, core- banking investment- design and development, constructing systematically the distribution channels, credit ratings system and customer segment, credit risk supervision and management center, the national credit document settlement center, R& D for products and services as well as packing to meet the demand of the selected target customers, etc Pilot launch of new business strategy is carried out in some branches, transaction centers to draw out experience and amendment (if necessary) Period of 2010 – 2011: It is expected to convert new business and services in the entire system under the “myriapod” manner, set up a conversion project team to deploy conversion instruction in BUs and supervise the performance of new business and services in such units Period of 2011 – 2013: “Booming period”: It is expected to expand market nationwide as per key- satellite model and available to compete with others 3.4.2 Implementation when converting the structure of branch model 88 3.4.2.1 Setting up a project team on new business strategy model conversion Team North of Hanoi South of Hanoi Northeast The West Team East of HCMC West of HCMC Dong Nam Bo Team The Central Nam Trung Bo weeks of lunar tet weeks of lunar tet week week weeks of payment Finish Figure 3.3 • In 2009 the business model conversion project team is established in branches It is expected to train and prepare all human resource process to set up team No.1 • In 2010, the new business model conversion is conducted Team No is responsible for implement the new business model conversion in the North of Hanoi, Nam Ha, the Northeast and the West areas 89 • In 2010, in parallel with the new business model conversion in the North of Hanoi, it is expected to continue recruitment, human resource training to set up Team No on June, 2010 Personnel for the Team No include ½ members of Team No and newly recruited person for Teams No & Team No.2 is responsible for implementing the new business model conversion in the East, West of HCM, and Dong Nam Bo (literally "South-eastern region") • On October, 2010 together with implementing the business model conversion in branches, it is expected to continue recruitment and training to set up Team No based on the key personnel from the Team No and Team No 3.4.2.2 Communication Any changes will affect psychology of the affected person, therefore, communication is launched so that staff of VIB Bank understands that the conversion spirit is very essential Communication of the new business model conversion will be conducted in associated with implementation plan as stated in the implementation schedule Contents of communication include: • Reason to convert • To- jobs when converting into new business strategy model • Problems to be met when converting and affirming that conversion is essential Some persons may be removed because they are not accepted or disqualified However, this case is not abundant and available if we are enthusiastic 3.4.2.3 Problems on human resource investment training In order to let staff understands the new business strategy, we have to train staff so that they grasp their role in the new strategy, including: • Curriculum design for staff • Training for skills, knowledge and using instruments, productivity management process in line with new business strategy 90 • New products are adjusted in accordance with each target customer group In short, to successfully implement a new business strategy, in addition to forming a suitable business strategy, key to the success of the strategy is the business performance in fact To successfully conduct the strategy, the more careful the preparation is the easier the implementation is Therefore, preparation is very important and decisive to the success of the strategy Therefore, VIB Bank must arrange qualified and competent staff to be able to decide problems relating to the implementation in fact It is required to have high commitment of Board of Directors and Board of Management on the new business strategy conversion 91 CONCLUSION During the past years, Vietnam bank system developed significantly in both quantity and quality The State Bank of Vietnam makes great effort to manage the monetary policies, stabilization of exchange rate, interest and inflation control, contributing to stabilize the economy and facilitating the economic growth at the high speed Especially after the adhesion to WTO, Vietnam banking system expanded promptly and made certain contribution to the country development, the national infrastructure construction, and concern to the businessmen, contributing to develop agriculture, industry and service By cheerlessly improving the service quality, the industry pays special attention to improving activities relating to market and modern banking services and products In addition to the traditional services, banks strive to diversify products This is an indispensable trend when Vietnam economy is increasingly integrated into the world and the domestic banks have to face with external rivalry pressure Thanks to the technological level, payment facilities are modernized ATM system offers many utilities for the life After a long time for pursuing network expansion for fund mobilization, up to now, due to the global economic crisis, some banks fail to maintain the expected profit growth, control the risk of liquidity, increased overdue debts, narrow coverage, etc Therefore, in stead of increasing the interest rate for fund mobilization as previously, many banks convert to exploit more utility services, change management style, diversify products, etc The initial necessity is that banks should position where they stand in the hearts of customers Next, branding and brand personality are essential because brand is a living creature having both physical and emotional value It is considered as a life of a person with happiness, sadness, illness, aging and death, etc Communication is an appearance of this brand child Finally, banks should note that communication includes not only 92 advertisement It is an art of combination with customer dialogue It is derived from the internal value in the employees to external value (ads, marketing, etc) It is possible to say that in such a difficult and cut-throat competition market, any banks having the proper strategy, maximizing opportunities and knowing how to struggle with challenges will the winner They will have a reliable position in the world’s financial banking market VIB Bank is a member of Vietnam Commercial Bank System, actively operating during 13 years, making a remarkable contribution to the country construction and development During its operation, VIB Bank has successfully implemented the Business Strategy in period of 2003 - 2007 and with the official launch of the Business Strategy in period of 2009 - 2013, once more VIB Bank faces with new opportunities to further achieve and develop, striving to reaffirm the leading position in the list of the local leading banks Formulating the Business Strategy in period of 2009 – 2013 of Vietnam International Bank (VIB), especially focusing on a retailing- an extremely potential market in Vietnam with new brand strategy, message on a modern, dynamic, friendly and dedicated bank, is the renovation in the brand identification system of a bank having 13 years available in Vietnam market Such renovation is interpreted as to affirm a new position and create new competitiveness for VIB Bank’s trademark The General Director of VIB Bank, Mr An Thanh Son confirmed that VIB Bank is eligible to launch a new Business Strategy and strongly believe in the success of VIB Bank in the coming time To bring the success to VIB Bank, it is required to make an active transition in attitude and specific action of each staff of VIB Bank, each employee of VIB Bank has a certain role, position and benefit during performance VIB Bank’s new Business Strategy It is emphasized that VIB Bank wishes to and believe in the support of all members in the VIB Bank Grand Family 93 With great efforts of staff, mobilizing all available and to-be resources, optimizing opportunities of the market as well as support policies of the State, Vietnam International Commercial Joint Stock Bank hopes to satisfy all demands of customers and wishes to become one of the leading banks in Vietnam with affirmed outstanding values: Outstanding in providing new solutions to the satisfaction of customers Nurturing the effective orientation culture, businessman spirit, being transparent and open in the VIB Bank’s working environment Offering the sustainable and attractive values to shareholders Supporting to community development - 94 REFERENCES I English References Competitive Strategy (1986) Michael Porter Harvard Business School Press The Concept of Corporate Strategy, 2nd Edition (1980) Kenneth Andrews Dow-Jones Irwin "Customer Intimacy and Other Value Disciplines." Michael Treacy and Fred Wiersema Harvard Business Review (Jan-Feb 1993) The Discipline of Market Leaders (1994) Michael Treacy and Fred Wiersema Addison-Wesley The Rise and Fall of Strategic Planning (1994) Henry Mintzberg Basic Books Strategy (1967) B H Liddell Hart Basic Books Strategy: Pure and Simple (1993) Michel Robert McGraw-Hill Top Management Strategy (1980) Benjamin Tregoe and John Zimmerman Simon and Schuster "What is Strategy?" Michael Porter Harvard Business Review (Nov-Dec 1996) II Vietnamese References The Corporate strategy and development plan – Nguyen Thanh Do – Education Publishing House (1996) Strategic management – Ass.prof Le The Gioi, Prof Nguyen Thanh Liem, M.A Tran Huu Hai – Statistic Publishing House (2007) Strategy Management Curriculum of Vietnam National Economic University – Ass.prof Le Van Tam, Ass.prof Dr Nguyen Thanh Do, Dr Phan Dang Tuat, MBA Vu Tri Dung, MBA Ngo Kim Thanh, MBA Pham Thi Nhuan, MBA Dang Vu Dai, Truong Duc Luc – Statistic Publishing House (2000) 95 Documents of Information Technology Department – State Bank of Vietnam Documents of Vietnam Statistic General Department Researches of MC.Kinsey, AC&Nelson, ADB, Duestche Bank and IMF III Internet Sources www.sbv.org.vn www.vib.com.vn www.tinkinhte.com www.tinkinhte.com www.vneconomy.vn www.quantri.com.vn; www.chungta.com; www.strategy- business.com www.mckinseyquarterly.com 96 [...]... banks in general and VIB Bank in particular are “How to provide the best retail banking services” By investigating the overview of retail bank service, achievements and restrictions of Vietnam commercial joint stock banks in general and VIB Bank in particular, subject of the thesis is to investigating the operations as well as strategy for developing retail banking products of VIB Bank 11 2 Scope and... analyzes the retail banking situation in VIB Bank through factors such as strategy, trademark, product, personnel organization structure, finance and technology, and so forth Thence, it is expected to identify strength and weakness of VIB Bank Thanks to analysis on the international business environment, the external socio- economic and politic environment, VIB Bank can sketch their retail banking... CURRENT RETAIL BANKING SERVICES IN VIETNAM INTERNATIONAL JOINT STOCK BANK (VIB) 2.1 Overview on Vietnam International Commercial Joint Stock Bank 2.1.1 General introduction, mission and objectives of Vietnam International Bank (VIB) 24 Vietnam International Joint Stock Company (abbreviated name is Vietnam International Bank - VIB) has the head office in No 198B Tay Son street, Dong Da district, Hanoi;... assets of more than 50 thousand of billion VND VIB is ranked on the first by the State Bank of Vietnam in accordance with the Vietnam banking system rating standards in many successive years During its operations, VIB takes the business strategy modifications in line with the domestic and international environment Especially in period from 2004 to 2008, VIB sucessfuly deployed its business strategy... This was the most modern project up to now in Vietnam ♦ “VIBank Values” domestic card was issued • In 2007: ♦ It officially released MasterCard and VISA ♦ It established the comprehensive cooperation with PVFC, PVI and VFC With motto of “Always offer added value to you”, VIB is ceaselessly making great effort to become a companion with customers VIB is awarded with many prizes, highly appreciated by... parts: Chapter I: Literature review on business strategy Chapter II: Analyzing the current retail banking services in Vietnam International Commercial Joint Stock Bank (VIB) Chapter III: Building up a retail banking business strategy of VIB in period of 2009 - 2013 - Solutions and performance schedule 13 CHAPTER I LITERATURE REVIEW ON BUSINESS STRATEGY 1.1 Concepts and role of corporate business strategy...members are working in the financial- banking industry, being one of the managerial staffs of VIB, we decide to select and make a research on: “BUILDING UP A RETAIL BANKING BUSINESS STRATEGY IN PERIOD OF 2009 - 2013 - FOR VIETNAM INTERNATIONAL COMMERCIAL JOINT STOCK BANK (VIB) ” 1 Subjects of the study: The global financial crisis and economic depression including Vietnam lays enterprises... with Decision No.22/QD/NH5 dated 25th January, 1996 of the Governor of the State Bank of Vietnam Founder shareholders of VIB include Vietcombank, Agribank, successful individuals and businessmen in the home and abroad Over 13 years of establishment and operated on 18th September, 1996, VIB increasingly develops and affirms its position in the home financial market With initial charter capital of 50 billion... in Vietnam banking association, has prepared for the next development in all fields VIB Bank carries out a significant program to modernize comprehensively the consumption network, effectively supported by the professional and dedicated staff to create strengths to the bank with commitment on service quality assurance VIB Bank trademark is expected to be worthy with a title of “dedicated bank” According... are the true owners of VIB Bank, they have had absolutely confidence in us In return for this confidence, we guarantee to bring the suistainable growth investment value; the bank development with long term perspective; the Bank development as a responsible institution for the social development” For social community: Actively contributing to the development of the community VIB is responsible for