IMPROVING CAR LOANSERVICES FOR INDIVIDUAL OF SEABANK DAI AN

PROFESSTIONAL BACHELOR DEGREE IN BANKING – FINANCE - o0o - INTERNSHIP REPORT IMPROVING CAR LOANSERVICES FOR INDIVIDUAL OF SEABANK DAI AN UNIVERSITY TUTOR MR NGUYEN HOANG MRS SONIA ADAM-LEDUNOIS STUDENT MR PHAM TUAN ANH Enterprise tutor LUONG PHAN HA MR LUONG DUC BAO -Ha Noi 2018 - 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 CONTENTS 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 CONTENTS ii 1.3 The reason why i choose this topic 1.4 Missions of internship Mission 3: Comparing with competitor 16 3.1 Contributions .22 3.2 Some difficulties encountered during my internship: 22 3.3 My experience gained 23 References 26 ii LIST OF TABLE Figure 1: Organisational structure diagram of Seabank’s Dai An Branch Figure : 5C Rule Table 1: Project implementation plan Figure : My department’s organization 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 15 Table Seabank compares with competitors on car loan market 16 Table 10 : SWOT 17 Table 11: Summarized KPIs of Seabank Dai An 20 Table 12: My total commercial result after months 20 Table 13 : Future plan 24 iii LIST OF FIGURE 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 CONTENTS ii Figure 1: Organisational structure diagram of Seabank’s Dai An Branch Figure : 5C Rule 1.3 The reason why i choose this topic 1.4 Missions of internship Table 1: Project implementation plan Figure : My department’s organization 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 15 Mission 3: Comparing with competitor 16 Table Seabank compares with competitors on car loan market 16 Table 10 : SWOT 17 Table 11: Summarized KPIs of Seabank Dai An 20 Table 12: My total commercial result after months 20 3.1 Contributions .22 3.2 Some difficulties encountered during my internship: 22 3.3 My experience gained 23 Table 13 : Future plan 24 References 26 iv 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 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 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 08 th 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 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 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 staffs Task : Defining the bank Task : Studying the bank’s services are offered by this bank Task 3: Studying the customer needs and market 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 : Making a comparison of the services provided in relation to the activities of private savings Phase C : Survey for customer needs Task : Searching information about other banks car loan service Task : 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 Date of final 04/02/2018 13/02/2018 04/02/2018 05/02/2018 09/02/2018 04/02/2018 08/02/2018 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 14/03/2018 14/03/2018 02/04/2018 18/03/2018 20/03/2018 02/04/2018 03/04/2018 17/04/2018 03/04/2018 13/04/2018 knowledge 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 PART 2: WORK PLACEMENT EXPERIENCE AT SEABANK, DAI AN BRANCH 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 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 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 Point 10 10 5 2 3 4 (Source: Credit department) 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 12 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 29-30 Points 31-33 Points 34-36 Points 37-38 Points 39-40 Points 41-43 Points Deny More than VND 50M More than VND 120M More than VND 250M More than VND 380M More than VND 500M 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 Table : The credit score of Mr.A N Credit Quality Objectives Occupation of the borrower: + Expert or in charge of business Housing status: + Live with friends or relatives Credit file: + Good Professional experience: + More than year Time to live at the current time: + More than year Phone Email: + Yes People living with (depended) More than Bank accounts: + Both savings account and credit card Point 10 10 2 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 re-negotiate 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 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 14 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: Risk assessment Owned house at Ha Noi value VND 1200 million • 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 • Other risks: children (increases financial burden) Proposal customer Negotiation results • 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 Case study 3: Customer C Table 8: Business case - Property purchase loan Customer Mr H 15 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 • Income risk: very low because of stable income and long time Risk assessment contract • Mortgage risk: Collateral is less than the loan • Other risks: children (increases financial burden) Proposal customer Negotiation • Overall assessment: 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 1,48 billion VND in years With fixed results 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 Mission 3: Comparing with competitor On the market, car loan is delicious cake for Banks in 2017 So, beside we understand process of Seabank Bank, we need to understand our competitors, especially strong points and disadvantages of them Table Seabank compares with competitors on car loan market Banks MaritimeBank TP Bank VP Bank SeaBank (SEACAR) 16 Interest First year: 6.9% with First year: 7.9%, rate Brands: Toyota, Ford apply for al car First year: 8.1% 6.9% 7.9% with cars of Brands First for all Brands for all Brands other Brands Years Loan Years follow: 15.5% 3.7% 14.5% 4.9% 13.5% 4.7% margin Loan’s Up to 09 years Maximum years Maximum duration Specially Lending Up to 85% of car’s Maximum 80% of Maximum 80% Maximum 80% rate price car’s value of car’s value of car’s value Currencies VND VND VND VND Lending From limit VND to billion VND to billion VND 50 VND Time to 2h approval follow: Years year: follow: 13.5% 4.1% years Maximum years million From 50 million From 50 million From 50 million VND from follow: Years taking 8h to billion VND from VND to 1.5 billion VND taking 8h from taking 8h from taking complete customer’s complete complete complete profile customer’s customer’s customer’s profile profile profile (source: thebank.vn) Advantages: From the table we see interest rates SeeBank compared to other banks is outstanding, only 6.9% This makes Seabank more attractive to customers than other banks As borrowers for many years, interest rates will be the first priority when choosing a bank Loan term up to years make clients have more time to saving money Disadvantages: Maritimebank is currently the biggest rival because it has attractive products with the same interest rate as Seabank, with the approval time almost immediately with only hours Seabank can accept a loan under 1,5 billion, it make limitation in choosing car especially cars from Euro Besides, Seabank need 8h to finish customer profile, with some client, it might take too long for them because they are middle man or they buy car in short sale off event Mission 4: Review and evaluate products after internships trough SWOT Table 10 : SWOT 17 Strength S: Weakness W: - Have good relationship - Fewer staff are with many car dealers in the area routinely rotated => reduced and in some neighboring business efficiency of the districts unit - Quality of products Car - Target customers are loan is always guaranteed and individuals and businesses has created a place in the heart scattered throughout the area of customers SWOT => causing difficulties in - Seabank participates in marketing products almost all car fairs in Vietnam as a sponsor - The branch is heavily dependent on the direction of the Headquarters performance Limits the on targets => flexibility of customer interest rates policy => Restricts competitiveness - Demand for car for the strengths to take advantage of opportunity travel of the population has a opportunities good average demand for car loans products, making - to overcome Gather more to and this information build product a major product of the expand your customer base -The car line has a lot of branch cars from cheap, basic, family and business location At the - Use dynamic staff to same time care, preserve, car to the super-light line -> expand the network not only in suggest the meet all the needs of the the area but to the key economic maximize population The the weakness - Continue to develop auto income in the area => large loan - of branch Matrix S.O: Use your Matrix O.W: Use the Opportunities O: relatively the demand the and existing areas in Ha Noi -> seeking new customers number of customers for the branch businesses is increasing, the - Capture timely - Collaborate with car information of the market to income of people in the area manufacturers is increasing -> create more promotions to For organize keep up with the needs of example: customers potential customers for the interest rate program 7.5% when 18 type of car loan products - Having access buying a Mercedes-Benz car to nationwide car exhibitions, customers who want to buy a car will know Seabank's car loan products more often Threat T: Matrix S.T: Use strong - Competitor banks also points to avoid risk have similar products international weak points to avoid the competitive Especially banks Matrix W.T: overcome risk big - Leverage favourable like terms and conditions of loans, HSBC, ANZ - Strengthen the staff to flexible asset management and get the most out of the - High taxes, charges many bank support services for potential customers in the and fuel prices that car users this product to gain customers' area, have to psychologically bear hesitate organize => trust as well as brand building training to row buy cars of many people to internal improve professionalism the of Combined with the car employees => Compete with - The loan appraisal is company to advise customers on the major banks in terms of still based on the price bracket the right vehicles to meet the quality Service of the State, which is quite need to save costs Product marketing outdated => causing many through word difficulties for the bank to thanks review loans of the bank introducing new customers to to of old mouth, customers create confidence and take advantage opportunity 19 of every 2.5 Commercial result and KPIs A retail banking staff's performance is measured by many aspects Quantitatively, the bank are judged by main criteria: Amount of net deposits raised per month/quarter Amount of net loans provided per month/quarter Number of customers and total assets under management Revenue from other products (credit cards, transactions, etc.) While I was an intern at Seabank Dai An, my performance was also recorded on these metrics, except for the deposits since I did not work on raising deposit money from customers 2.5.1 Results of host firm The commercial results of Seabank Dai An branch is summarized in the following table based on the main KPIs discussed above The beginning asset under management of each month is equal to the beginning asset of the previous month plus the net deposits raised and net loans issued during that month These KPIs only pertain to the retail banking division Corporate banking division's results are not disclosed to me since I not work there Table 11: Summarized KPIs of Seabank Dai An Month March 2018 April 2018 May 2018 Net deposits raised (million VND) Revenue from other products (million VND) 10,220 1,230 8,204 400 9,205 1,020 (Source: General data department) Net loans provided (Billion VND) 12.245 12.686 14.212 2.5.2 My commercial results During the months of my internship My overall commercial results are summarized below Notice that the Asset under management at the beginning of March was Revenue from other products are calculated based on the credit cards I sold and reissued Table 12: My total commercial result after months Month Net deposits raised (million VND Net loans provided (Billion VND) March 2018 April 2018 May 2018 0 500 1,930 1,630 Revenue from other products (million VND) 90 210 My loan KPI of is VND 4,060,000,000 after months Account for 14,7% total KPI for loan of my department That is a good number for new beginner like me Although my main mission is work on loan product but luckily I have a change to work 20 on counter staff for a short time so i contribute to the bank 100,000,000 VND for saving products and opening accounts That is a low number but saving is not my main missions so it is acceptable 21 PART 3: WORK PLACEMENT ASSESSMENT 3.1 Contributions During the internship, I made a major contribution to the operation of the branch as follows: Throughout the months of my work placement, I was able to acquire valued skills and knowledge in the retail banking business Until now, I am capable of performing almost every retail banking service offered at the branch level I am familiar with the paperwork required for loans, online banking accounts, card registration, etc In addition, I have developed an indepth understanding of the car loan application and assessment process, including risk assessment and property value appraisal Promoting online banking platforms and credit cards also taught me how to develop personal relationships with clients and sales tactics These are all very important professional skills that I believe will be beneficial for me beyond the banking industry Firstly, in addition to studying the bank, products as well as credit department at the branch, I supported bank staff in doing administrative office tasks In spite of small tasks, I could save time for bank staff so that they could focus on their main tasks In addition, i rearranged documents and records in a short and systematic way so that people could easily search for achieved customer records and facilitate the work Secondly, in the process of working with clients, and find out customer’s demand or their desire for car loans service while assessing customer satisfaction with SEABANK’s service quality Thanks to customers’ cooperation as well as bank staff’s support in my department, I preliminarily summarized the bank’s strengths and weaknesses when providing products to customers, thereby giving recommendations to adjust as well as continue to promote such available strengths Thirdly, I compared Seabank's products with other banks My instructor highly appreciated this Thanks to this comparison, the bank will have an overview of the market Know the strengths and weaknesses of the loan product and then develop appropriate strategies in the future Fourthly, During my time at internship, I worked directly with 18 clients wishing to buy a car and successfully contracted with clients Bring in more than billion VND to Seabank The customers are satisfied with what I advise and the terms in the contract 3.2 Some difficulties encountered during my internship: Firstly, this is the second time I has officially worked as a credit officer, so I could not 22 avoid initial confusion At first, my working speed was slow, and I was confused to work while bank jobs required to be done quickly with short and urgent deadlines However, staff in the department also understood such difficulties, so they supported and instructed me Therefore, after a month I got used to working and improving my speed Secondly, the working intensity at the bank is very large, employees often have to work overtime and work on their business, and appraise customers As a student, I was not assigned much work to with other colleagues The main task is still observing and self-learning However, the staff in the bank was very interested and taught me useful knowledge to be able to contact with customers Thirdly, the 3-month doing internship is quite short for me to understand all the creditrelated knowledge Meanwhile, knowledge learned at university is very small in comparison with the working reality at the bank Therefore, during this time, we tried my best to approach our work in order to gain as much experience as possible for ours future work 3.3 My experience gained Firstly, thanks to the support of staff in the department and at the bank, I gradually understood the work of a credit officer in the bank, and then tried to complete assigned tasks Moreover, during the internship, I have the opportunity to apply knowledge learned in university into practical work It is an invaluable experience for me Secondly, I got acquainted with high-intensity work tasks in the bank, learned how to streamline workflow smoothly and conveniently Through observing our branch staff and taking part in some tasks, I gradually got used to the bank’s professional working environment and learned how to reasonably allocate time Thirdly, I have the opportunity to access the actual process documentation in the bank I knew how to read the process quickly but still get enough information, knew which parts we should focus on to shorten the reading time but still get the best results It allowed me to shape tasks that acquire to be done and to implement them effectively Fourthly, most importantly, I was able to work directly with clients, understand their wants and respond to them with the specific product that the bank provided This helps me be more confident in my work and helps my bank to have more loyal customers 3.4 Future career plan Throughout the months of my work placement, I was able to acquire valued skills and knowledge in the retail banking business Until now, I am capable of performing almost every retail banking service offered at the branch level I am familiar with the paperwork required for loans, online banking accounts, card registration, etc In addition, I have developed an indepth understanding of the car loan application and assessment process, including risk 23 assessment and property value appraisal Promoting online banking platforms and credit cards also taught me how to develop personal relationships with clients and sales tactics These are all very important professional skills that I believe will be beneficial for me beyond the banking industry My future short term plan : finish internship report with a good result then I will spend my time to learn more skill in working environment About my long term plans I have my expectations for my career that is working in financial environments Seabank is a top priority for my application because I have had time to study and work here, understand how to work and get acquainted with other colleagues However, I also not hesitate to explore other working environments in the financial sector so credit institutions are a good choice in the future Table 13 : Future plan 4/2 – 4/5/2018 Take part in Internship at Seabank Dai An branch 5/5-1/7/2018 15/7 -2/9/2018 Apply for office Finish internship application classes report and specialized accounting classes 24 3/9- 1/12/2018 Apply application for credit institution or banks in Ha Noi CONCLUSION Overall, the work placement at Seabank Dai An has given me many valuable opportunities to develop my professional skills and knowledge I was able to get a hands-on perspective on the day-to-day work of a bank at the branch level I also acquired many valuable skills in the banking business ranging from filing, client relations, credit assessment and sales During the course of these months, I noticed some challenges and shortcomings at Seabank Dai An and made some suggestions on them Some of my recommendations were implemented and brought about tangible commercial and operational results for the branch I am now much more confident of my competence as a professional thanks to the work placement program and the support of the manager at Seabank's Dai An, Ms Ly Thi Khanh Hoan, my direct manager Luong Duc Bao and all other staffs at the branch 25 REFERENCES https://thebank.vn/vay-the-chap/vay-mua-nha-ngan-hang-seabank-105.html https://topbank.vn/tu-van/lai-suat-vay-mua-nha-seabank-2018-np20180303113102756 http://enternews.vn/seabank-uu-dai-lai-suat-cho-ca-nhan-vay-mua-nha-dat-8033.html http://vneconomy.vn/tai-chinh/san-pham-cho-vay-mua-sua-chua-nha-o-cua-seabank20131015032644262.htm http://ictnews.vn/cong-nghe-360/o-to-xe-may/grab-uber-da-chiem-linh-thi-truong-vietnam-the-nao-sau-3-nam-co-mat-163375.ict 26 ... contributions 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... 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 08 th November 2007 For ten... Application file for SeABank car loan − Loan application form and repayment plan (in the form of SeABank) ; − Personal ID card / passport, household registration / KT3; − Proof of repayment; −