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
🟩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
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