Annual Report
The aftermath of the 2008 global financial crisis saw some positive trends in 2009 and a global recovery was expected in 2010, but the reality still has many problems. Vietnam’s economy faced several challenges and issues as well, especially in financial and banking industry.
As the result, DongA Bank Board of Directors and Board of Management have decided to choose stability as the key goal in 2010. The slogan of “Progress and Sustainability” has continued since 2009. Since that time, DongA Bank has made a significant progress in technology application, product development, human resource improvement, branch network expansion, credit operations, and retail and corporate banking service delivery.
DongA Bank has fully complied with capital requirements of the State Bank of Vietnam and by end 2010 it has raised the charter capital to VND 4,500 billion. The joint commitment of senior management and staff has resulted in more than VND 858 billion profit. DongA Bank has proven that it has won the trust and support of more than five million shareholders and customers both in times of plenty and of scarcity.
In 2010, the bank put a human face to promotion and branding. DongA Bank contributed to community development by sponsoring several educational initiatives, including “Net But Tri An” (Writing with Gratitude) contest for students to write about their teachers and “Honoring top universities graduates ceremony” for rewarding top graduates from universities. DongA Bank has continuously created a community-centered image in the market. Combined with the operational stability the bank received deep appreciation from customers and community. Many awards were bestowed, such as “Sao Vang Dat Viet” (Vietnam Golden Star), Most Famous National Brand, Most Favorite Vietnam Brand, Strong Brand of Vietnam and entered the Vietnam Book of Records for the first gold-dispensing ATM. The Most Innovative Money Transfer Company Award was given to DongA Money Transfer Company by IAMTN.
For 2011, it is expected that the global economy, including Vietnam, shall be hampered by economic uncertainties and challenges. The Board of Directors and Board of Management have decided to continue to finetune and improve DongA Bank 2011-2015 Strategy.
DongA Bank shall re-affirm our leading position among commercial banks in Vietnam. We are set to develop new products for retail and corporate banking. Our target is to become a stable, strong and efficient DongA Financial Group in the near future.
ANNUAL REPORT
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