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Banking & Finance

OCB wins Vietnamese Excellent Brand Award

Released at: 12:04, 20/04/2017 What's on

OCB wins Vietnamese Excellent Brand Award

Photo: Vneconomy

Bank reached all targets set for 2016, creating a solid foundation for "Conquering the Peak" in 2017.

by Anh Duy

For the third year in a row, the Orient Commercial Bank (OCB) won a Vietnamese Excellent Brand Award on April 8, affirming its leading position and brand in the eyes of customers.

With its breakthrough successes in 2016, OCB continued to implement strategic plans and recorded important achievements: securing high liquidity, ensuring excellent risk management, and fulfilling its core business activities to secure its position in the market with impressive results.

OCB completed all business targets in 2016

The bank recorded the highest growth rate in the banking sector. As at the end of 2016, profit had reached VND484 billion ($21.3 million), equal to 108 per cent of the annual plan and up 81 per cent against 2015.

As at December 31, total assets stood at VND63.8 trillion ($2.8 billion), up 29 per cent, total customer loans reached VND39.6 trillion ($1.75 billion), up 35 per cent, and total deposits were VND46.2 trillion ($2 billion), up 57 per cent.

Notably, the bank saw its bad debt ratio fall to 1.51 per cent of total outstanding loans by the end of last year. Other safety indicators have also been strictly complied with and geared towards the Basel II standards.

The remarkable business results in 2016 exceeded the bank’s targets, demonstrating its relentless efforts and being a firm foundation for it to record even greater achievements this year.

OCB has perfectly organized the bank’s structure with distinctive specializations and maximized the efficiency and productivity of its human resources. This is an important shift for the bank in improving its capacity to expand market share and create tremendous value for each and every customer segment.

Aiming to become one of the best banks in Vietnam, OCB has always focused on building its management system towards transparency and ensuring safety. As one of the first banks to actively implement the Basel II standards, OCB has completed the first phase of its risk management project to bring itself closer to complying with international practices. Moreover, with cooperative agreements with major technology corporations like Microsoft and Gartner, OCB is attempting to upgrade its comprehensive technology platform to become a modern bank.

OCB CEO Mr. Nguyen Dinh Tung makes an address during the year-end review of the bank's business performance in 2016 and targets for 2017

“In the new strategic period, OCB will focus on exploiting short-term opportunities and developing its strategic competitiveness,” CEO Nguyen Dinh Tung said. “OCB will strive to expand market share, optimize, improve the quality of its balance sheet, reduce processing times for both operations and customer service, and apply international standards on risk management.”

With the theme “Conquering the Peak” in 2017, OCB is determined to develop its brand and firmly believes in its roadmap to become a leading bank in retail and for small and medium-sized enterprises in Vietnam.

Oriental Commercial Bank (OCB) was established on June 10, 1996. Through more than 20 years of operations and development, it has affirmed its reputation in the financial market. It was one of the eight banks on the list of the Top 500 fastest-growing enterprises in Vietnam (FAST500) and among the Top 50 businesses with good social responsibility and community development. OCB was also the only bank to receive a Vietnamese Excellent Brand Award in both 2014 and 2015. It is in the process of implementing its strategic development plan for the 2016-2020 period, with the goal of becoming one of the best banks in Vietnam.

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