VIB

The restructuring plan that VIB built has 11 main contents, including:

🟩Improving financial capacity, credit quality, operational efficiency, transparent business management in operation;

🟩Modernizing banking to enhance competitiveness;

🟩Developing digital banking model, effectively implementing digital transformation plan; developing cashless payment;

🟩Continuing to apply and deploy Basel II, Basel II according to advanced method by 2025;
Developing network;

🟩Expanding scale and scope of operation in accordance with the policy and orientation of the Government, Prime Minister;

🟩Improving the efficiency of credit capital allocation, promoting green credit, green banking, investing in renewable energy, clean energy, low-carbon production and consumption sectors;

🟩Solutions for developing non-credit service activities;

🟩Encouraging participation in buying, merging, consolidating with other credit institutions on a voluntary basis and in accordance with the law to increase operational scale, competitiveness and ensure operational safety of the bank;

🟩Participating in implementing mechanism solutions to support weak credit institutions;

🟩Handling bad debts.

🫒Difficult words:

VIB: /viː aɪ biː/ (pronunciation), a joint stock commercial bank in Vietnam1

restructuring: /riːˈstrʌktʃərɪŋ/ (pronunciation), the act of organizing a company, business, or system in a new way to make it operate more effectively2

Basel II: /ˈbɑːzəl tuː/ (pronunciation), an international business standard that requires financial institutions to maintain enough cash reserves to cover risks incurred by operations3

renewable energy: /rɪˌnjuːəbl ˈenədʒi/ (pronunciation), energy from a source that is not depleted when used, such as wind or solar power4
low-carbon: /ləʊ ˈkɑːbən/ (pronunciation), emitting a relatively small amount of carbon dioxide into the atmosphere5

non-credit service: /nɒn ˈkredɪt ˈsɜːvɪs/ (pronunciation), a service provided by a bank that does not involve lending or borrowing money, such as issuing guarantees, letters of credit, safe deposit boxes, etc.6