Financial services are now too familiar to every Vietnamese. One of the familiar names is the Industrial and Commercial Bank which is frequently mentioned by the media. However, there are still many people who wonder what Bank of Industry and Trade is?
Many people when making transactions or registering for an account at Vietinbank, but it is not certain that they will have a good understanding of this bank. What are the functions and duties of this bank? All will be in the article below.
Viewing: What is Industrial and Commercial Bank?
1. What is Industry and Trade Bank? The bank’s current registered name in English is VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE.
In 1988 Vietinbank was established after separating us from the State Bank of Vietnam. The original transaction name was IncomBank.
In 2009, Vietnam Bank for Industry and Trade was licensed to operate and established (according to Decision No. 142/GP-NHNN of the Governor of the State Bank of Vietnam) after completing the first domestic IPO event.
Vietinbank’s head office in Hanoi
Experiencing the development process, at present, Vietnam Bank for Industry and Trade currently has 1 Transaction Office at 108 Tran Hung Dao Street, Hoan Kiem District, Hanoi City, 150 branches and over 1000 Transaction Offices / Savings Fund nationwide.
The development process has confirmed Vietinbank’s position when it is the first bank in Vietnam to be granted the ISO 9001:2000 certificate. At the same time, it is the first bank to open a branch in Europe, bringing Vietnam’s finance to a new level with many new developments.
In some cases, we often see Vietinbank abbreviated as CTG, in fact this is the code name of the Joint Stock Commercial Bank on the stock exchange. Often you will see the word CTG mentioned in articles analyzing the stock market for a certain audience, investors and business people.
Currently, Vietnam Joint Stock Commercial Bank for Industry and Trade is also known as Vietinbank, this is also the transaction name of this bank.
2.Core values and business philosophy of VietinBank
Core values and business philosophy have become the guideline to help Vietnam Joint Stock Commercial Bank for Industry and Trade to conquer the most demanding customers and at the same time help Vietinbank constantly strive and develop to a higher level. new.
Core values
Vietinbank always aims at the trust of customers, considers customers the center of all business activities, commits to bring the best products and services to best meet all needs of each customer. row.
Towards the most perfection in all financial services.
Always dynamic, creative and professional.
Honesty and transparency, uphold professional ethics.
Always show respect for customers, partners, leaders and colleagues.
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To protect and develop comprehensively the brand name of Joint Stock Commercial Bank for Industry and Trade of Vietnam.
Develop in a sustainable and highly responsible way to the community and the whole society.
Customers make transactions at Vietinbank
Business philosophy of the bank
Always ensure safety, efficiency and sustainability.
Loyal, dedicated and innovative in financial services.
The success of customers is the success of VietinBank.
2. Historical development milestones of Industrial and Commercial Bank
In order to have the development and be in the top 5 of the largest state-owned banks in Vietnam, the Bank for Industry and Trade of Vietnam has experienced the following memorable milestones.
March 27, 1993: Established a State-owned enterprise named Vietnam Bank for Industry and Trade under the decision of the Governor of the State bank of Vietnam.
By 2018, Vietinbank had 1 main transaction office, 150 branches and more than 1000 transaction offices and savings funds throughout Vietnam.
Has a cooperative agency relationship with more than 900 banks, implementing financial institutions in more than 90 countries and territories worldwide.
Considered to be the first bank in Vietnam to be granted ISO 9001:2000 certificate.
As an official member of the Vietnam Banks Association, the Association of Asian Banks, the Global Interbank Financial Telecommunication Organization, the International Visa and Master Card Issuing and Payment Organization.
Currently, VietinBank is the first bank in Vietnam to have opened branches in European countries, which marks the great development of Vietnam’s financial industry around the world.
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Thus, the Bank for Industry and Trade has the full name of Vietnam Joint Stock Commercial Bank for Industry and Trade with the transaction name VietinBank. Hopefully, the article has provided customers with the necessary information about what a commercial bank is and the current business directions and philosophies of the bank. now.
