Military Bank presented with the flag of Excellency in Emulation by the Government

(VDP) - The Military Commercial Joint - Stock Bank (MB) was presented with the flag of Excellency in Emulation by the Government on December 21 in the inauguration of its headquarters in Hanoi.

General Phung Quang Thanh presented the Government’s flag of Excellency in Emulation to MB.

The bank was honored to welcome General cum Minister of National Defence Phung Quang Thanh, governor of State Bank of Vietnam (SBV) Nguyen Van Binh and other leaders as well as representatives from ministries, sectors to the opening ceremony.

Established on November 4, 1994, the MB reported an initial charter capital of 20 billion VND and personnel of 25 managers and employees. So far, its system has been developed and expanded with nearly 200 branches, including two ones in Lao and Cambodia and 5,400 personnel.

The Military Bank has overcome difficulties and gained excellent achievements, making a pretax profit of 2,837 billion VND - ranked in top 5 of commercial banks nationwide with the highest profit. It has posted the current deposit of 134 billion VND, outstanding loans of 80,000 billion VND and bad-debt ratio of 1.84%. With its outstanding achievements, the MB received the flag of Excellency in Emulation of the Government.

The bank officially inaugurated its headquarters at 21 Cat Linh, Dong Da, Hanoi which covers on an area of 25,084 m2, including 19 stories in height and three basements, creating a professional working environment for its managers and employees.

General Phung Quang Thanh and representatives cut the ribbon at the headquarters of MB.

General Phung Quang Thanh praised the obtained achievements with the collective efforts of MB, confirming the bank as one of the most effective and safe business banks. Meanwhile, he reminded the Board of Directors (BOD) and employees of MB to keep the reputation of a military bank, creating good capital sources for clients and military enterprises, fulfilling 2014 tasks and be worthy with the trust of customers, the Central Party Committee of military forces and the Ministry of National Defence.

Translated by Vu Quyen