To prepare necessary foundations for future strong growth, Mekong Development Joint Stock Commercial Bank (MDB) has officially adopted the new commercial name and launched the new brand identity with the hope that it will create an image of a dynamic, modern, professional and convenient bank for customers when they choose to work with MDB.
Mekong Development Bank was officially established on October 12, 1992 with the first name of My Xuyen Commercial Joint Stock Bank with an initial charter capital of VND303 million. The lender, headquartered at 248 Tran Hung Dao Street, Long Xuyen City, An Giang Province, was formerly a rural commercial bank with an operating presence across An Giang province. On September 16, 2008, the bank was approved by the State Bank of Vietnam (SBV) to transform into an urban commercial joint stock bank with more favourable conditions to expand its operating presence across the country. Currently, the lender is still focusing on agricultural and rural credits as these are its traditional strengths developed in more than 18 years.
On November 13, 2009, the State Bank of Vietnam allowed My Xuyen Commercial Joint Stock Bank (MXBank) to rename to Mekong Development Commercial Joint Stock Bank. With its new development potentiality, MDB is quickly expanding operations throughout the country. To date, the bank has built a network of nearly 30 centralised transaction points in An Giang, Can Tho, Sa Dec and Ho Chi Minh City. Currently, MDB has nearly 400 employees, most of whom are very young, dynamic and creative.
At present, MDB has a charter capital of VND1,000 billion (US$58 million), total assets of nearly VND2,524 billion, and 634 individual and institutional shareholders. In the development plan in 2010, MDB expected to increase its chartered capital to VND3,000 billion and open 20 new transaction offices. Currently, MDB is investing Core-banking B2K equipment and software to modernise its banking technology in the process of regional and international integration. With its expanding operating network, the lender expects to recruit an additional 200 staff in 2010. MDB will regularly organize training courses and workshops to improve the working knowledge and skills for its staffs. It also attaches much importance to building the corporate culture. In addition, MDB regularly participates in community-driven activities.
Using agricultural and rural credits as the leverage to promote other activities, MDB always focuses on improving credit quality, diversifying its credit products and simplifying borrowing procedures. Presently, MDB is concentrating on developing products for personal and corporate clients like agricultural loan, livestock loan and aquaculture loan (shrimp, catfish, etc.), corporate lending; consumer lending, unsecured lending, vehicle loan, home loan, money transfer, guarantee, etc. It also finances housing projects funded by Asian Development Bank and rural housing finance projects (RDF, MLF).
In addition, MDB is implementing a number of savings products such as demand savings deposits, flexible savings, etc.
From April 26, 2010 to June 30, 2010, MDB carries out a promotion programme called
“Summer Gift” with 2,550 interesting gifts like wall clocks, helmets, backpacks for depositors.
Vietnamese
