14:03 | 19/06/2018 Companies
(VEN) - Indovina Bank is proud to be part of the Top 500 of the largest enterprises in Vietnam (VNR500) in 2017, which was officially launched by the Vietnam Report Joint Stock Company and the Vietnamnet Newspaper on January 19, at the Grand Plaza Hotel in Hanoi. This is the 11th year the VNR500 is published to honor enterprises with outstanding achievements in their production and business.
|IVB representative receives the certificate from the organizing committee|
The year of 2017 is special as it marks the recovery of the Vietnamese economy. The performances of the corporate circle saw many positive changes. Three quarters of the Vietnam Report survey respondents unveiled an increase in their sales, which is much higher than in 2016. After over a decade, the number of private enterprises grew 2.5 times, making up approximately 50 percent of the companies on the VNR500. Moreover, the contribution of this sector expanded from 27 percent in 2016 to 32.3 percent last year, partly reflecting the government’s efforts to create a favorable business environment for all economic sectors, speed up flotation and restructure state-owned enterprises.
The VNR500 enterprises asserted that a faster restructuring of the economy, particularly the reform of administrative procedures and the reduction in direct investment and business by the state, will be an indispensable support for business development this year. Many respondents expected the government to combat corruption in a more aggressive way, review the competency of civil servants, cut down on public investment, improve the quality of human resource training and restructure large groups and corporations.
The Indovina Bank Ltd. (IVB) is the first joint-venture bank in Vietnam, a partnership between the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) and the Cathay United Bank in Taiwan (CUB). The latter, a wholly-owned subsidiary of the Cathay Financial Holdings, is Taiwan’s largest financial group in terms of total assets and equity.
The well-rounded and experienced staff of foreigners and locals at the Indovina Bank are fluent in not only English and Vietnamese but also Mandarin and Cantonese. Its Vietnamese employees are well trained and familiar with essential banking concepts in line with international standards in order to provide clients with high-quality services.
The Indovina Bank is constantly increasing its utility to serve both individual and corporate clients at home and abroad, with competitive interest rate programs and professional financial services. Apart from business activities, the Indovina Bank also pays special attention to its Corporate Social Responsibility (CSR) by taking part in environmental charity programs for the sake of the community and society in Vietnam. Evidence of such recognition is the prestigious awards from domestic and foreign organizations that the Indovina Bank was honored to receive Top Brand 2015 by the GTA European Group: A certificate of merit from Well Fargo in 2015; A certificate of merit to the executive board of IVB from the Government in January, 2016; Top 100 Brands of Vietnam 2016; A certificate of merit from BNY Mellon for two consecutive years 2016-2017.