Developing noncredit banking service in Techcombank = Phát triển dịch vụ phi tín dụng tại ngân hàng thương mại cổ phần Kỹ Thương Việt Nam

ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - LƯƠNG THỊ THU HƯƠNG DEVELOPING NONCREDIT BANKING SERVICES AT TECHCOMBANK PHÁT TRIỂN DỊCH VỤ PHI TÍN DỤNG TẠI NGÂN HÀNG THƯƠNG MẠI CỔ PHẦN KỸ THƯƠNG VIỆT NAM LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH HÀ NỘI - 2019 ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - LƯƠNG THỊ THU HƯƠNG DEVELOPING NONCREDIT BANKING SERVICES AT TECHCOMBANK PHÁT TRIỂN DỊCH VỤ PHI TÍN DỤNG TẠI NGÂN HÀNG THƯƠNG MẠI CỔ PHẦN KỸ THƯƠNG VIỆT NAM Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: PGS.TS PHẠM THỊ THANH HÒA HÀ NỘI - 2019 DECLARATION I pledge that this thesis is my own research which has been completed with the support of Assoc Prof Dr Pham Thi Thanh Hoa The data in the tables used for analysis and evaluation are true and correct and collected from different sources with sufficient citations The solutions stated in the thesis are drawn from the theoretical bases and the practical research process Written by Luong Thi Thu Huong i ACKNOWLEDGEMENTS I would like to express my sincere gratitude to the lecturers in the 14th MBA Program of the School of Business and Management, Vietnam National University, Hanoi (HSB, MBA 14) for dedicatedly teaching and imparting valuable knowledge to me during my time at the University Especially, I also give special thanks to Assoc Prof Dr Pham Thi Thanh Hoa for her thorough and dedicated guidance during this thesis completion In addition, I would like to send my thanks to the Professors, Doctors and researchers who have made researches in the field of finance – banking, giving me the information to complete this research Despite all efforts, due to limited knowledge and time, the thesis has inevitably certain shortcomings I look forward to receiving the comments from the teachers and friends so that my research may be more perfect Yours Sincerely, Hanoi, November 2018 Author Luong Thi Thu Huong ii TABLE OF CONTENTS DECLARATION i ACKNOWLEDGEMENTS ii LIST OF ABBREVIATIONS .v LIST OF TABLES .vi LIST OF FIGURES vii INTRODUCTION .1 CHAPTER 1: BASIC THEORETICAL ISSUES OF DEVELOPING NONCREDIT SERVICES AT COMMERCIAL BANKS 1.1 OVERVIEW OF SERVICES OF COMMERCIAL BANKS 1.1.1 Concept of banking service .9 1.1.2 Characteristics of banking services 10 1.1.3 Classification of banking services by the nature of revenue sources 12 1.2 NON-CREDIT SERVICES OF COMMERCIAL BANKS 21 1.2.1 Concept of non-credit services of commercial banks 21 1.2.2 Non-credit service development of commercial banks 21 1.2.3 Risks in non-credit service development of commercial banks .38 1.3 EXPERIENCE IN DEVELOPING NON-CREDIT SERVICES AND LESSONS FOR VIETNAMESE COMMERCIAL BANKS 39 1.3.1 Experience in developing non-credit services of banks around the world .39 1.3.2 Lessons for Vietnamese commercial banks 41 CHAPTER 2: CURRENT STATUS OF THE DEVELOPMENT OF NON-CREDIT SERVICES AT TECHCOMBANK IN THE 2013-2017 PERIOD 43 2.1 General introduction of Techcombank 43 2.1.1 Summary of the establishment, development and organizational structure of Techcombank 43 2.1.2 Business results of Techcombank in the 2013-2017 period .49 2.2 Current status of the development of non-credit services at Techcombank in the 2013 – 2017 period 53 iii 2.2.1 Analysis of the non-credit service development results at Techcombank in the 2013 - 2017 period .53 2.2.2 Market share and the number of customers using non-credit services annually 63 2.2.3 Customer satisfaction of non-credit services of Techcombank .64 2.3 Evaluation of non-credit service development results of Techcombank in the 2013-2017 period 66 2.3.1 Non-credit service development achievements of Techcombank in the 2013-2017 period .66 2.3.2 Weaknesses and causes of limiting non-credit service development of Techcombank in the 2013 – 2017 period 67 CHAPTER 3: SOME SOLUTIONS TO DEVELOP NON-CREDIT SERVICES AT TECHCOMBANK 71 3.1 Non-credit service development strategy of Techcombank by 2017 and vision to 2020 71 3.2 Solutions to develop non-credit services of Techcombank 72 3.2.1 General solutions to develop non-credit services of Techcombank 72 3.2.2 Particular solution to develop each type of non-credit service at Techcombank .76 3.3.2 Recommendations for Vietnam Banks’ Association .82 CONCLUSION 84 REFERENCES 85 APPENDIX .88 iv LIST OF ABBREVIATIONS No Abbreviations Meaning BHNT Life insurance CN/PGD Branch/Transaction office DV Service DVNH Banking service DVPTD Non-credit service KDNT Foreign currency trading KH Customer NH Bank NHDT E-banking 10 NHTM Commercial banks 11 TCB Techcombank 12 TD Credit 13 TMCP Joint Stock Commercial 14 TTQT International Payment 15 VN Vietnam v LIST OF TABLES Table 2.1 Some basic financial indicators of Techcombank from 2013 to 2017 .49 Table 2.2 Revenues from non-credit services of Techcombank (2013-2017) 53 Table 2.3 List of non-credit products of Techcombank 54 Table 2.4: Revenues from cash and payment services of Techcombank ( 2013 -2017) 55 Table 2.5: Revenues from insurance commission of Techcombank ( 2013 -2017) 57 Table 2.6: Revenues from Securities issuance guarantee of Techcombank ( 2013 2017) 58 Table 2.7 Foreign currency trading at Techcombank ( 2013- 2017) 59 Table 2.8: Card revenues of Techcombank in the 2013 – 2017 period 61 Table 2.9: The number of ATMs and POSs over the years 61 Table 2.10: Securities service of Techcom Securities in the 2013-2017 period .62 Table 2.11 Top non-credit services at Techcombank 64 Table 2.12: Top highest and lowest levels of agreement on facilities, staff and rationale of products and services 65 vi LIST OF FIGURES Figure 2.1: Total assets of Techcombank ( 2013 -2017) 50 Figure 2.2: Total assets of Techcombank ( 2013 -2017) 51 Figure 2.3 Market share and the number of customers using non-credit services annually .63 vii INTRODUCTION Rationale The international integration process brings about Vietnamese commercial banks both many opportunities for development and many challenges Vietnamese commercial banks are required to strengthen and enhance their competitiveness through diversification and improvement of financial services Inter-industry competition in Vietnam is no less severe Commercial banks in the whole country are competing with one another on an hourly basis by launching a series of new products and services, lowering interest rates, improving processes and applying modern banking technology Besides, domestic banks also have to cope with competition pressure in terms of technology, financial capacity, quality of services, professionalism in business that are always the strength of foreign banks One of the financial restructuring activities of credit institutions in the Restructuring Plan of Credit Institutions in the 2011-2015 period approved by the Prime Minister under Decision No 254/QD- TTg dated March 01, 2012 is “Step by step transforming the business model of commercial banks in the direction of reducing dependence on credit activities and increasing revenues from non-credit services” Developing non-credit services is the most effective way to change the structure of a bank’s business performance rather than dependence on risky credit activities and securities business investment consultancy that is facing many difficulties at present Vietnam Technological and Commercial Joint Stock Bank (Techcombank) was established on September 27, 1993 Initially, it had only three branches Now, it develops rapidly with a network of more than 300 branches nationwide serving more than million of individual customers, SMEs, large enterprises and FDI enterprises By the end of 2017, Techcombank had earnings before tax of 7,500 billion dong, equivalent to 150% of the plan At present, Techcombank’s non-credit services are diversified in the following major forms: payment services, foreign currency business, cards, asset management, b Funds Beside the existing services such as checking, counting, collection and payment at the request of customers, Techcombank should deploy the service of renting safes and mobile cash collection and payment at individual addresses As the economy grows, the demand of the people is higher To attract customers, it is necessary for this service to ensure modernity, safety, convenience and privacy Mobile cash collection and payment at personal addresses must be quick and safe and must be advertised widely to customers by Techcombank 3.2.2.2 Solutions to modern non-credit services a Foreign currency trading Techcombank needs to improve the quality of its currency trading by designing an online foreign currency trading program for the entire branch network; actively promote the marketing and development of cross foreign currency swap, interest rate options, currency options, asset management trust; continue to cooperate with other reputable banks in the world Because all banks are directly affected by the exchange rate, Techcombank needs to monitor exchange rate fluctuations in the international and domestic markets to establish the competitive daily exchange rates b E-banking Although Techcombank’s e-banking is being belived and used by customers, it is always necessary for it to develop and further improve the quality of e-banking services, which should focus on technology, safety and security, professional skills, service exploitation skills, service of staff; Improve operational procedures, enhance inspection, monitoring and risk management and improve customer care service quality In particular, technology and security issues are important We can say that they are the “heart” of e-banking service - Technology: Techcombank needs to apply digital technology solutions with appropriate adjustments and innovations to meet the e-banking development needs - Safety and security: With the development of science and technology, Techcombank can use more advanced technologies to improve information security 77 for customers In addition to the electronic data encryption solution, it is possible to protect customer information with electronic signature and password on the network and key management in the hierarchical order and apply data security policies c Card: - Strengthen the ATMs and POSs; cooperate with the payment points by groups such medical treatment, food and beverage, shopping, relaxation, etc.; apply the discount policy to customers using Techcombank’s cards, strengthen communications to all customers - Enhance and improve the risk management of card activities Techcombank needs to build and ensure the smooth, safe and confidential card payment processes; take measures to detect the phenomenon of making and using fake cards as well as fraudulent card payment activities early - To issue a variety of card types, it is necessary to segment target customers to release the appropriate cards, which will help Techcombank increase card market share when this serive is in the fierce competition in Vietnam today The investigation of the needs of customers to have the basis for issuing many types of cards will help Techcombank more successful Techcombank should also promote the development of different types of cards through the link programs with the brand names of aviation, real estate, telecommunications, sports, fashion, music, etc for young customers such as pupils, students; the shopping brand for all customers - Strengthen technology modernization: Techcombank needs to research to move to magnetic card technology This type of card is safe for both cardholders and Techcombank To invest and improve the technology system supporting the card business in general, including the stabilization of the ATM system and the development of new services Combination of card service with other e-banking services shall bring maximum utilities to customers It is also essential to research and develop card services based on the different tastes of each target customer group in order to attract customers - The Government should have a unified, clear and specific viewpoint; monitor and direct the roadmap for opening financial services in accordance with 78 international commitments to facilitate and gradually increase the initiativ of domestic banks; step by step remove restrictions on foreign banks in accordance with integration commitments, create an equal competition environment for banks, thereby positively contributing to the development of banking services - Expand the implementation of policies to promote and encourage non-cash payment in the economy The State Bank of Vietnam should actively implement and further expand the implementation of Decision No 291/2006 - QD-TTg on the non-cash payment scheme for the 2006-2010 period to reduce the total cash payments in Vietnam to 15% by 2010 This is a policy of great significance not only to the economy but also the whole society, thereby creating the non-cash payment habit for people In addition, the State Bank of Vietnam needs to focus on financial risk prevention in order to maintain stability and safe environment for business activities of commercial banks in the volatile market economy nowadays - The State Bank of Vietnam should quickly establish a national financial switching center in the whole country, allowing the network connection to use ATMs for commercial banks nationwide, thereby reaching an agreement on the card service charges among banks, creating favorable conditions to further develop card service in Vietnam and also contributing to accelerating the reduction of cash flow in circulation d, Life insurance distribution The revenue from life insurance brokerage charges rose rapidly Especially, revenue from life insurance increased to nearly 58,000,000,000 dong in 2017, which is a very huge figure According to Techcombank’s strategy, the revenue from life insurance brokerage charges will be a key item in total net Revenues from charges at Techcombank Selection of the qualified staff who have “passion” for Bancassurance For life insurance, human resources is more important because this product is complicated and difficult to convince Therefore, staff must have passion and good sales skills Techcombank’s sales taffs should also be equipped with skills related insurance products, consultancy and persuasion skills or have the insurance distribution certificate The positions 79 and organizational model of the Bancassurance Department at Techcombank and Insurance companies should be clearly defined and selected “the right people, the right job” to implement bancassurance effectively As a result, the insurance companies and Techcombank need to select qualified and experienced officers who have necessary skills as the “liaison officers” and the Bancassurance Departments/Divisions to coordinate and promote bancassurance at Techcombank Selection of simple insurance products, suitable for the needs of the bank and customers First of all, the product must be simple, easy to remember and understand and ensure that the bankers who are so busy can still grasp individual non-life insurance products such as auto insurance, motorcycles insurance, health insurance, accident insurance or term insurance products of life insurance such as borrower insurance, depositor insurance so that they can completely meet the implementation requirements for the Department of individual customers of the bank in a large number and at low costs Secondly, the goal of the bank and the insurance company is ultimately business efficiency or in other words to be “profitable.” To gain this goal, the product must be of high value to help the bank have reasonable commission to ensure investment capital for bancassurance both in terms of human resources and facilities Products that can be of great value and high commissions are insurance packages for corporate customers such as buildings, headquarters, aviation or traditional non-life insurance policies distributed through the banks In order to be more successful in distributing insurance products, Techcombank needs to have a product development plan and strategy in line with its strategy and business plan of the banking sector Moreover, it is important that the commission mechanism through the bank is also carefully considered to avoid conflicts with the dealer channels or salary and bonus mechanism of the bank It is very difficult, so banks often allocate commissions to staffs to motivate them to sell their products or set up insurance quotas or launch emulation programs 80 Enhancement of the training skills and sales support Training is always the key factor to the success of bancassurance Techcombank must regularly organize the training courses and give sales support to bank officers to ensure that knowledge about products and procedures are disseminated, especially skills and experience in insurance operations such as basic insurance programs, sales skill training courses and refusal handling experience when customers not need to join the insurance program; advanced training courses to serve VIP customers, etc are shared frequently and continuously Techcombank and Insurance partner need to analyze the training needs and make a bancassurance learning map for positions at the insurance distribution bank and plan the specific training time required by the bank Moreover, the regular and continuous training and post- training support will help bank officers feel confident in consulting insurance Simple, easy –to-understand and easy- to- apply coordination process The insurance company and bank must unify and define the operating system smoothly, ensure the flow of data according to business process requirements, quickly and synchronously deploy solutions desired by both parties and make payment and financial settlement fast and accurately Both parties must design the program and customer policy in line with the bank’s general activities to make customer become familiar with the images of insurance products in the bank Service delivery process is important in not only boosting sales but also making bank officers confident in insurance distribution Therefore, the collaboration process must be simple and fast, and the insurance service delivery process integration must be similar to the bank’s service delivery process The process should be effective in identifying customer needs and sales The contract issuance and evaluation process should be minimal In addition, it is necessary to study the 81 technology integration possibility to reduce unnecessary steps in the coordination between the parties e, Distribution of corporate bonds and open-end funds Together with life insurance, bonds and open-end funds bring huge revenues to banks Bonds and open-end funds need specialized customer care officers who are always “creative” in their work for the main goal of bringing more value to customers, thus retaining customers and promoting transactions For example, create a synthesized information supply group for investors or a bond recommendation group based on individual financial statements; analysis of fundamental factors such as cash flow, total assets and risk appetite; a consulting group based on technical analysis; organize tours, meetings with business leaders to find out information; Focuse on the analysis of the major bond codes, thereby encourage the investors, especially VIP customers to sell or buy or use financial leverage if it is a clear investment opportunity From the fact, many investors not want to invest in bonds because there is no information and the ability to assess risks Both issuers and investors in the corporate bond market want to have an intermediary and objective assessment of the debt repayment capability of issuing companies Therefore, the formation of a credit rating organization operating in the capital market is a necessary requirement, especially when the bond market starts to enter a higher development stage The bank need to send more specific reports to investors every week so that customers have access to information of increase and decrease in income In addition, the bank also needs to appraise the most prestigious business partners for cooperation to issue good bonds to customers; thereby helping customers make a decision on more investment in Techcombank 3.3.2 Recommendations for Vietnam Banks’ Association Vietnam Banks’ Association plays a quite important role It represents the members in the internal and external relations related to the bank and the 82 Association Therefore, to develop business activities of commercial banks, it is necessary to strengthen the role of the Association It is necessary to expand the cooperation of Vietnam Banks’ Association and the Association of Banks in other countries in the region and in the world On the other hand, the Vietnam Banks’ Association also needs to enhance its role in organizing, linking and cooperating among domestic commercial banks in terms of professional operations in order to create favorable conditions for commercial banks to support one another, raise their competitiveness, contributing to the implementation of monetary policies, ensuring Vietnamese credit institutions’ safe operation and healthy development as well as promoting the socio-economic development 83 CONCLUSION The non-credit service is an indispensable business operation of commercial banks Along with the development of the economy, in the context of increasingly fierce competition and commercial banks’ constant expansion of branches, the noncredit service development to meet the customers’ needs of services is considered as the inevitable activity of the economy Under a proper orientation of banks in developing non-credit services, banks will attract customers and increase the proportion of service revenues as well as contribute to promoting socialization of non-cash payment Through the research, the thesis has achieved the following results: Firstly, the author systematized the basic theoretical issues of non-credit services in detail such as: Concept, characteristics, classification of non-credit services, role of non-credit services, indicators for evaluating the non-credit service development, including qualitative and quantitative indicators, factors affecting the non-credit service development and foreign banks’ experience in non-credit services of commercial banks; thereby drawing some lessons for commercial banks in Vietnam Secondly, based on the theoretical bases of non-credit service development of commercial banks, the author analyzed the opportunities and challenges in the non-credit service development of Techcombank Then, the current status of the development of non-credit services of Techcombank in the 2013 - 2017 period was studied and evaluated through specific indicators and factors affecting the noncredit service development Afterwards, the thesis outlined the findings, weaknesses and their causes Thirdly, on the basis of weaknesses and their causes, the author gave some main general solutions to develop non-credit services and particular solutions to develop non-credit services of banks and the recommendations for Vietnam Banks’ Association 84 REFERENCES Pham Thi Cuc, 2008 “Professional Operations of Commercial Banks” textbook, Hanoi Statistical Publishing House Bui Thi Thuy Duong and Dam Van Hue, 2013 “Development of ebanking services at Vietnamese commercial banks Journal of Economics and Development, 188, pp 48-53 Vu Cao Dam, 1999 Scientific Research Methodology, Hanoi Publishing House for Science and Technology Nguyen Anh Dao, 2013 The current status of non-credit service development at Vietcombank - Da Nang Branch Master’s thesis University of Da Nang- University of Economics Tran Quoc Dat, 2008 Experience in developing banking services in some countries Banking Science & Training Review, Issue No 51, p 18 Fitch, p, 2005 The Banking Terminology Dictionary The 5th edition Hanoi; Barron Education Publishing House Nguyen Thu Hang, 2005 Service sector development trends in the world Journal of Economic Research, Issue No 9, p 10 Tran Cong Hien, 2006 Development of non-credit banking services Journal of Banking Technology, Issue No 8, p 56 Ngo Thi Thanh Huyen, 2014 Non-credit services at Agribank - Tay Do Branch, Master’s thesis VNU University of Economics and Business 10 Nguyen Thi Thanh Huyen, 2013 Improving the quality of non-credit services at the Military Commercial Joint Stock Bank Master’s thesis National Economics University 11 To Ngoc Hung, 2014 “Bank Credit” Textbook Hanoi: Labour and Social Publishing House 12 Nguyen Minh Kieu, 1993 “Monetary and Bank Credit and National Payment” textbook, Hanoi Educational Publishing House 85 13 Pham Thi Linh, 2011 Developing banking services in the integration period Journal of Economic Management, Issue No 41, pp 51-56 14 Pham Thi Linh, 2015 Development of Credit Services by Stateowned commercial banks in Vietnam Doctoral dissertation of National Economics University 15 Pham Thi Linh and Le Quoc Hoi, 2013 Developing the non-credit services at state-owned commercial banks in Vietnam Journal of Economics and Development, Issue No 192, pp 88-93 16 Le Thi Tuyet Nga, 2009 Solutions to develop non-bank services at Transaction Center - BIDV Master’s thesis, VNU-University of Economics 17 Military Commercial Joint Stock Bank, 2012 Financial report, Hanoi 18 Nguyen Ho Ngoc, 2001 Solutions to raise revenues from non-credit services at Vietnamese commercial banks Master’s thesis, Ho Chi Minh City University of Economics 19 Truong Thi My Nhan, 2009 Developing the modern high-tech distribution channels of Vietnamese commercial banks Banking Review, Issue No 13, page 15-17 20 Dao Le Kieu Oanh and Pham Anh Thuy, 2012 The role of non-credit service development in Vietnamese commercial banks Journal of Service Development and Integration, Issue No 06, pp 41-45 21 Petes S Rose, 2010 “Management of Commercial Banks” textbook Hanoi Hanoi Finance Publishing House 22 Ngo Van Que, 2003 “Management and Development of Monetary finance and Bank credit” textbook Hanoi Hanoi Science and Technics Publishing House) 23 Nguyen Thi Qui, 2008 “Modern Banking Services” textbook, Hanoi Hanoi Social Science Publishing House 24 National Assembly, 2010 Law on Credit Institutions, Hanoi 25 National Assembly, 2012 Lawyers Hanoi 86 26 Tran Thi Ha Sam, 2013 Main solutions to develop non-credit services at Agribank- Quang Ninh Branch Master’s thesis Thai Nguyen UniversityUniversity of Economics and Business Administration 27 Nguyen Van Tien, 2014 “Bank Credit” textbook Hanoi: Statistical Publishing House 28 Nguyen Thi Kim Thanh, 2010 The role of Banking Technology in Development Strategy of the banking sector for the 2011-2020 period Banking Review, Issue No 10, p 28-34 29 Nguyen Dinh Tho, 2013 Scientific research methodology in business, Hanoi: Finance Publishing House 30 Pham Anh Thuy and Nguyen Thi Thu Trang, 2012 Developing noncredit services at Vietnamese commercial banks Banking Technology Review, Issue No 78, pp 35-38 31 Pham Anh Thuy, 2013 Developing non-credit services of commercial banks in Vietnam Doctoral dissertation Banking University of Ho Chi Minh City 32 Pham Thi Tuyet, 2008 Selection of communications skills training modes for bank officers in the context of competition and integration Banking Review, Issue No 21, pp 30-34 33 Vietnam Academy of Science and Technology, 2010 Encyclopaedia, Hanoi, Statistical Publishing House 34 http://tapchitaichinh.vn/tai-chinh-kinh-doanh/tai-chinh-doanh- nghiep/bancassurance-10-yeu-to-quyet-dinh-thanh-cong-39836.html 87 APPENDIX QUESTIONNAIRE OF DEMAND AND CUSTOMER SATISFACTION OF NON CREDIT SERVICES OF TECHCOMBANK Dear Sir./Madam: I am implementing the research topic of “Developing non-credit banking services at Techcombank in the 2013 – 2017 period” The questionnaire is a very important part of the thesis Your cooperation is very valuable for my research All information below is strictly confidential I: General information Please provide the following information: Address:………………………………………Gender: Male Female Full name:……………………………………………………………… Question 1: Occupation Public servant Housewife Merchant Student Others Question 2: Age Below 20 20 -29 years old 30-39 years old 0-49 years old ≥ 50 years old Question 3: Qualification Below Intermediate College, University Intermediate level Post-graduates Question 4: Non-credit products and services that you are using at Techcombank Service Foreign currency trading Bond/open-end funds Asset management Information supply consultancy Manulife life insurance Guarantee E-banking Budget Derivatives Securities investment brokerage Card 88 Othe products and services II Specific contents: Below are the criteria related to the non-credit service development of Techcombank, please show your level of agreement by checking the appropriate box Strongly disagree Neutral Disagree No I Agree Strongl Criteria Qualification Strongly agree y agree of Agree Neutra Disagre Strongly l e agree bank officers Bank officers are highly qualified to handle 5 5 professional operations as well as customer inquiries Bank officers are polite and proactive in instructing customers in a thoughtful and dedicated manner Bank officers professional and are able to handling the information quickly and accurately, thereby minimizing the waiting time II Facilities Techcombank branches to has many facilitate customers’ transactions 89 The image Techcombank’s transaction of branches/ offices 5 5 5 5 is increasingly enhanced Transaction suitable, equipment modern is and comfortable Rationality, III non-credit diversity products of and services of Techcombank There are a variety of products Products and services are provided in line with the needs of customers Techcombank’s communication and propaganda is effective 10 Competitive service charges The brochure provided for 11 customers is complete and clear You trust and are satisfied 12 with non-credit products and services of Techcombank 13 You feel secure, comfortable when carrying out 90 transactions at Techcombank You will continue to use 14 non-credit services of 5 Techcombank in the near future 15 You will advise other people to use non-credit products and services of Techcombank III Please tell me your opinion on the following issues: In your opinion, to develop the non-credit services of Techcombank and use its products and services effectively, what new subjects are necessary? -Customers: ………………………………………………………………………… ………………………………………………………………………… -Techcombank ………………………………………………………………………… ………………………………………………………………………… -State bank of Vietnam ………………………………………………………………………… ………………………………………………………………………… Yours Sincerely, 91