Improving savings deposit service for individual customers at vietinbank phuc yen branch

Thuong Mai University institute of International Cooperation Professional Bachelor Degree in Finace-Banking-Insuarance WORK PLACEMENT REPORT Company: Vietinbank Phuc Yen Branch “Improving savings deposit service for individual customers at Vietinbank Phuc Yen branch ” Names of student : NGUYEN THUY LINH Student Code : 21931844 University year :2017 - 2020 Tutor at TMU : DR VU XUAN THUY Tutor at (Vietinbank): MR NGUYEN HUYNH Hanoi - 2020 ACKNOWLEDGE To complete this graduation thesis, besides my efforts, it is the great care, the helpful guidance and the endless support from teachers Besides, I also have been encouraged and instructed by my brother, my sister and my friends during the time working on this project With my whole heart, I would like to express my sincere thanks to everyone First of all, I would like to say thank you to the Board of Directors and the teachers of The University of Commerce and the University of Toulon for having given me valuable knowledge as well as the skills and experience over the past three years that foster me to complete this important graduation thesis in particular, and my future work in general In particular, I would like to express my gratitude to the teacher Dr Vu Xuan Thuy who has been wholeheartedly helping and guiding me throughout the process of implementing this project At the same time, I would like to thank the leader and the staff at VietinBank Phuc Yen Commercial Joint Stock Bank, Vinh Phuc Province, especially the staff of the retail office who have enthusiastically helped and created favorable conditions for my internship I wish you good health and success with your work at the ViettinBank Phuc Yen branch Regarding this thesis, although I have put a lot of effort into accomplishing it, it inevitably has mistakes Therefore, I would appreciate your feedback and comments to improve it Yours faithfully, Linh TABLE OF CONTENT CHARTS INTRODUCTION Vietnamese consumers have an interest in spending most of their idle money for savings purposes According to research, Vietnam currently ranks second in the world in terms of the percentage of people choosing savings deposits with 70 percent, only behind the Philippines with 71% Phuc Yen city, Vinh Phuc province This is a strong economic location where people are almost able to create stable jobs with high incomes Therefore, there is an increasing demand for savings deposits among Phuc Yen residents the bank has gained many achievements in savings deposit service However, to further develop and sustain its achievements, the bank should take measures to improve the services In this report, I would like to present some measures to help the bank improve, expand and develop savings deposit services for individual customers at Vietinbank Phuc Yen branch PART 1: OVERVIEW OF VIETNAM JOINT - STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE VIETINBANK PHUC YEN BRANCH, VINH PHUC 1.1 Company: -Name : VIETNAM JOINT - STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE - Transaction name: Vietinbank - Address of head office: 108 Tran Hung Dao, Hoan Kiem District, Hanoi City, Vietnam - Establishment License: No 142 / GP-NHNN issued by the State Bank on July 3, 2009 - Business activities: mobilizing and receiving short, medium and longterm deposits from organizations and individuals… - Operation area: 155 branches across 63 provinces and cities across the country and 958 transaction offices 1.2 Host Firm -Name : VIETNAM JOINT - STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE - Transaction name: Vietinbank - Address: Tran Hung Dao Street, Trung Trac Ward, Phuc Yen City, Vinh Phuc Province - Geographic development: Vietinbank Phuc Yen is located in the heart of Phuc Yen city, attracting many financial resources and customers - The number of employees: more than 100 staff with university and postgraduate degrees + Products: loans , guarantees, savings and investments, credit cards, SMS Banking, Internet Banking, mobile electronic banking and foreign currency transactions, financial leasing, securities transactions 1.3 Introduction of the internship:  Why the topic : Vietnam is an economically developing country This development has contributed to help the Vietnamese people have a more physically and mentally stable life and when the economy has stabilized, they no longer have to worry about money, they often need to think about it Future plans especially the "Savings Deposit" at the bank In a recent survey, Vietnamese people ranked second in the world (70%) in favor of saving money and second only to the Philippines (71%) And seeing that demand of the Vietnamese people, the savings deposit activity of banks was born Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) said that they and Vietinbank Phuc Yen branch, in particular, have developed savings service for Vietnamese people This is an important field of activity contribute to promoting the development of Vietinbank However, in fact, Vietinbank's mobilization of savings deposit is facing many difficulties due to the service competition and the introduction of new products of banks in Vietnam, which requires banks to offer solutions to attract customers to deposit money at their banks Through the above reasons, I have decided on the topic “Improving savings deposit service for individual customers at Vietinbank Phuc Yen branch '' * Intership Plan : Table.1 INTERSHIP PLAN AT VIETINBANK PHUC YEN BRANCH Time Task Outcome 10 - Go to the bank, greet familiarize with the staff in the room 11/2 – 18 /2 Started working as a trainee at Vietinbank Phuc Yen, Vinh Phuc - Read the rules and culture of the bank - Familiar with the working environment in the bank 19 - 20/2 – 27/2 2/3 – 29/3 –13 /4 (Work at home “Covid 19 virus) 14/4 – 15 /5 - Familiarize yourself with jobs such as Photocopy,… -Read the document about savings service Submit the internship agreement - Observing actual customers coming to the service, how to receive records and handling of bank officials - Direct support for bank officials in finding customers, consulting products and services to customers, Calling customer care -Learn more about savings services Make internship agreements, ask for a bank seal, then return to school to submit to your homeroom teacher - Know the data about savings services at the bank - Helping everyone in the office - Understand which customer groups match which products and services - Practice directly in some practical cases with customers -Hands up communication skills when interacting with customers - Complete some parts of the report - Calling successfully 15 people register for Vietinbank Ipay account by assigned tasks - Reporting practice - Performing the assigned work at home (calling for 15 customers to register for Vietinbank Ipay account) -Start to the final report -Ask for a red seal from the bank to confirm the internship assessment 10 29/ Submission of the internship Complete all report with the bank evaluation to the homeroom teacher PART 2: INTERNSHIP IMPLEMENTATION AT VIETINBANK PHUC YEN BRANCH 2.1 The internship position, responsibilities and tasks 2.1.1 Department structure and internship position  Department structure : -Department structure of the Vietinbank Phuc Yen Branch : Manager (Nguyen Manh Truong) Vice president (Sai Thu Ha) Retail office Administrative offices Accounting office * Manager : The branch director is responsible for administering and organizing the performance of the functions of the branch and its attached units in charge of and is responsible to the regional director, general director and board of directors * Vice President : Has an executive function and is directly responsible to the director Advise the director on construction plans and deal with the bank's business plan * Retail office : - Supporting credit: Implementing procedures for loan security, deposit, collaterals - Credit control: revise credit records and deposit records, respond to branch offices on issues that are not in compliance with regulations, complete the loan application and procedures and deposit procedures Money * Administrative offices : Receiving, distributing, distributing and archiving records, undertaking receptionist and logistics * Accounting offices : - Guiding the inspection of accounting work at Vietinbank Phuc Yen and other attached units Performing payment operations and controlling internal payment activities throughout Vietinbank Phuc Yen  Intership position - Positon : Intern of the Retail Offfie Photos 1- Take photos with all employees in the retail room - Department structure of the retail office: Manager (Duong Hoai Nam) Deputy (Nguyen Xuan Loi) Customer relationship Customer relationship Customer relationship specialists give priority to specialists give priority specialists give to loans priority to loans deposits Credit Card Officer Personal Customer Personal Customer Relation Officer Relation Officer Customer service specialist (Intern Nguyen Thuy Linh) 2.1.2 Business procedure and work placement responsibilities a, Business Procedure : * Definition about the Saving Deposit service + Savings deposit is a popular form of investment today, which is considered to be relatively safe and low risk to customers + With this method, customers deposit some money into the bank whose main purpose is savings This is an amount of money that customers save without planning to use, not money for regular spending or personal payment *Business activities and interest rates of savings deposit current bank Vietinbank Phuc Yen Table.2 VND DEPOSIT INTEREST RATES FOR INDIVIDUAL CUSTOMERS TERM INTEREST Send at the counter Send online Non-term 0.10% 0.25% 0-1 month 0.30% 0.45% -6 months 4.80% 4.95% 12 tmonths-over 36months 6.80% 6.95% Table.3 MOBILE RESULTS TABLE OF SAVING DEPOSIT RESULTS AT VIETINBANK PHUC YEN BRANCH (2017-2019) (Unit : VND) TARGET YEAR 2017 DIFFERENCE 2018 2019 2017-2018 2018-2019 AMOUNT OF MONEY AMOUNT OF MONEY 1Non-term savings deposit 579.650 638.321 659.967 58.671 21.646 2Term savings deposit 1.379.537 1.496.983 1.592.361 117.446 95.378 Savings deposit under 12 months 926.785 1.032.126 1.108.642 105.341 76.516 Savings deposit over 12 months 452.752 464.857 483.719 12.105 18.862 TOTAL 3.338.724 3.632.287 3.844.689 293.563 212.402 Looking at the above statistics table, we can also clearly see the huge difference between the two forms of savings deposit is "demand savings deposit" and "term savings deposit" Specifically in 2017, out of about 3,338,724 million savings, there were 1,379,537 million VND in the "Term savings deposit" and only 579,650 million VND in the form of "demand savings deposit term ” By 2018, the total mobilized capital from savings deposits has increased by VND 293,563 million compared to 2017, one of the reasons for such high increase is partly because Phuc Yen In general, the mobilization of capital from savings deposits of Vietinbank Phuc Yen in the period of 20172019 has increased quite well, which has helped the bank develop business in recent years *The process of opening a savings book : - Open a savings book directly at the counter: Step 1: Send customers the information about the savings deposit service at Vietinbank provide them with information to be eligible to open a savings book as follows: give ID card / Passport Step 2: Receive records from customers Get ID / PASSPORT, find out customer information carefully Step 3: Exchange product packages customers are interested in When customers have not yet selected the appropriate savings product, they will receive product advice appropriate to their needs After the customer has chosen which product to use, he will move on to step Step 4: Receive deposits from customers Receiving money, checking and counting customers' deposits Step 5: Create customer information on Vietinbank banking system Fill in the information: ID / PASSPORT,… of customers on Vietinbank system Step 6: Deposit money into savings books Step 7: Print the cover and intestines Step 8: Pass the newly printed money-saving book to the controller for signing Step 9: Send the book to the customer b ,Work Placement Responsibilities My internship position is: Customer service specialist Description of job position responsibility is: - Talking with customers about their needs when participating in the savings deposit service at Vietinbank Phuc Yen branch Answer questions related to savings deposit products and services - Advise customers on economical product packages, so that customers can easily choose a product package that suits their needs - Call to remind customers: Until maturity date; Inform customers about promotions, - Collect customer information and analyze customer's needs to propose measures to improve the quality of savings service and potential products for the bank - Comply with procedures, guidelines and policies of the bank - Always help every other employee in the bank 2.1.3 Daily tasks Table.4 DAILY TASK AT VIETINBANK PHUC YEN BRANCH Time Task Outcome 10/02 – 18/02 - in the early days, my mission was: + Read the culture and laws of the bank + Type some text to notify the room + Search and filter customer records for employees in the room + Photocopy, scan papers to help people - Describe the desire and present the topic of the internship report to to graduate and get a lot of materials so that I can learn about savings products, the process of opening savings books for customers - In the first days of work, I was acquainted with the working environment at the bank, acquainted with the machinery and equipment such as copiers, scanners, computers, - Direct observation of professional operations of bank staff - After having knowledge of the savings deposit service and knowing the objects that customers often use this service, my task at that time was: + Interested customers see what they are looking for? + After receiving the information customers are wishing to save I would ask, "Do you have any intention of choosing an economical product?" and send them detailed information about the products + When the customer agrees to send money, I will receive papers and personal information of the customer and then send it to the bank staff of the savings deposit department + Besides, the bank staff will give me a phone call for 10 customers/day, remind them about the "savings book maturity date" so they not miss the necessary information - I know the outstanding products of the savings deposit service - Besides, I also grasp the skillful, professional communication of the bank staff, it helped me to be confident when interacting with customers 20/02 – 27/02 10 - Besides, I have learned about the bank's culture and rules Very Disagree Disagree Neutral Agree Very Agree EVALUATION CRITERIA The level of agreement A RELIABILITY The Bank ensures the security of transactions and customer information The bank operates for a long time, the brand is widely known Customers feel safe when depositing bank money 1 2 3 4 5 The bank provides the service at the agreed time Accurate and timely information about changes in interest rates, exchange rates The Bank performs the transactions correctly and without errors 5 B EMPLOYEES FACTORS Bank staff actively consult and help customers in any situation Bank staff provide complete and timely information Bank staff resolve complaints and questions of customers satisfactorily C SERVICE CAPABILITIES Staff knowledgeable to answer questions and advise 10 Bank staff create a sense of security for customers when making transactions 11 Bank staff have an appearance and polite atitude , respect, honesty, fun with customers 12 Bank staff always treat customers fairly D TANGIBLE 13 There is a clear division between the counters (Cashier/credit /deposit / other transaction ) 14 Convenient location for customers to search 15 Invoice clear documents 16 Equipment of modern banks 17 Comfort for good customers (Seats, drinking water, parking, toilets ) 37 E PRICE AND OFFERS 18 Interest rates 19 The costs incurred during the reasonable education 20 Giving gifts to customers to save 5 21 Diversified savings products F ASSESSMEMT OF SATISFACTION LEVEL 22 Are you satisfied with the quality of the bank's savings deposit service? 23 In the coming time, will you continue using the services of the bank? 24 Would you introduce your relatives and friends to use the bank's savings deposit service? If you feel dissatisfied, please explain why (Your comments will help the bank improve and operate better) I SINCERELY THANK YOU FOR YOUR CONTRIBUTIONS ! CUSTOMER DEMAND SURVEY ON SERVICE OF VIETINBANK PHUC YEN BRANCH (SURVEY 2) - -Dear Sir/Madam, I am a major in Finance - Banking - Insurance from the International Training Faculty of Commerce University affiliated with the Toulon University of France Currently, I am an intern at Vietinbank Phuc Yen branch in Vinh Phuc province and am doing an internship report with the subject: “Improving savings deposit service for individual customers at Vietinbank branch Phuc Yen branch '' Please take a moment to answer some of the questions below I hereby certify that the information provided by you for this research is completely confidential and will only be used for research purposes Look forward to your help! I sincerely thank ! (Please tick  before the answer you choose) Question 1: Current Job  Office workers  Sales, business  Entrepreneur  Retire  Student  Other… Question :Do you want to use the savings deposit service at Vietinbank Phuc Yen branch? 38  Want to use (please answer the next question)  There is no need (please stop here) Question Please tell us how you know about the savings deposit service at Vietinbank Phuc Yen branch?  Referrals from friends and relatives  Through the mass media  Through a relationship with employees at Vietinbank Phuc Yen branch  Through other sources Question 4: What is your purpose when depositing savings at Vietinbank?  Safer when investing in other profitable items  Coverage risk when leaving money at home  Financial stability for yourself and your family  Enjoy attractive interest rates  Other purposes Question Please tell me about the criteria for selecting a bank to use the service?  Reputable bank  The bank has many incentives for customers  The bank has good customer service  Relatives and friends have been using the service at the bank  Other Question 6: Please let me know how long you want to use the savings deposit service at Vietinbank Phuc Yen?  Less than year  From 1-3 years  Over years Question 7: Monthly income  Under million  From 10-15 million  From 5-10 million  over 13 million I SINCERELY THANK YOU FOR YOUR CONTRIBUTIONS ! 39 CONCLUSION In the context of the current competitive market, the socio-economic life is increasingly being improved, so to stand firm in the market requires banks in general and Vietinbank Phuc Yen branch Particularly, we need to constantly innovate to improve the quality of services One of the issues that play an important role and need to be improved is the savings deposit service for individual customers As a reputable bank and always at the top of the joint-stock bank, Vietinbank should develop and upgrade its savings deposit service to help establish good relationships between the bank and its customers Since then improve competitiveness in the market and keep up the constant innovation of society In recent years, Vietinbank Phuc Yen branch constantly strives to build customers' trust, complete revenue and profit targets to contribute to improving production and business efficiency, including No small contribution from the retail department To effectively improve and improve the savings deposit service for individual customers, Vietinbank Phuc Yen needs to promote its strengths and overcome outstanding problems From there, the Bank will retain loyal customers while attracting more potential customers to bring business efficiency I hope that this report will contribute a small part to improving the development and promotion of money-saving service for individual customers to the Vietinbank Phuc Yen branch Due to limited theoretical as well as practical knowledge, the report cannot avoid shortcomings I would like to ask teachers and teachers to comment and make suggestions for my report to be more complete 40 REFERENCE • Vietinbank’s homepage • Vietcombank’s homepage • BIDV’s homepage • Website: • https://www.slideshare.net/trongthuy3/luan-van-giai-phap-nang-cao-huy-dong-von-tai-nganhang-vietinbank https://zingnews.vn/thuc-trang-tiet-kiem-cua-nguoi-viet-post977619.html http://tapchinganhang.gov.vn/tang-truong-huy-dong-von-tu-tien-gui-khach-hang-tai-nganhang-thuong-mai-viet-nam.htm report on business activities of Vietinbank- phuc yen branch from 2017 to 2019 41 ... at Vietinbank Phuc Yen branch in Vinh Phuc province and am doing an internship report with the subject: ? ?Improving savings deposit service for individual customers at Vietinbank branch Phuc Yen. .. at Vietinbank Phuc Yen branch in Vinh Phuc province and am doing an internship report with the subject: ? ?Improving savings deposit service for individual customers at Vietinbank branch Phuc Yen. .. decided on the topic ? ?Improving savings deposit service for individual customers at Vietinbank Phuc Yen branch '''' * Intership Plan : Table.1 INTERSHIP PLAN AT VIETINBANK PHUC YEN BRANCH Time Task