5:02:11 PM | 13/8/2013
Apart from the efforts of the provincial government and the business community, the economic development of Quang Ngai province is also significantly contributed by the banking sector, including the Southeast Asia Joint Stock Commercial Bank, Quang Ngai Branch (SeABank Quang Ngai). Despite being a newcomer, SeABank Quang Ngai has achieved many remarkable results as its products and services meet customers’ needs. Vietnam Business Forum interviewed Mr Nguyen Trung Han, Director of SeABank Quang Ngai, on successful operations of the bank branch. Duc Binh reports.
Could you tell us about SeABank Quang Ngai’s accomplishments so far?
SeABank started operations in Quang Ngai province in October 2011 when global and domestic economic crises were looming. However, with the effort of the entire branch, from leaders tried to employees, SeABank obtained encouraging achievements. Currently, SeABank Quang Ngai has more than 2,000 customers, including 1,800 individual customers and 200 corporate customers. The net profit was VND2,411 million, exceeding the target of the year. SeABank Quang Ngai also provides salary payment service for more than 40 State administrative agencies and companies with more than 1,500 accounts. Customers of this service are exempted from all types of charges like cash withdrawal fee, notification messaging charge, salary payment fee, and annual maintenance fee.
How has SeABank Quang Ngai overcome its difficulties to achieve the above results?
SeABank has synchronously carried out activities to meet the needs of every customer. SeABank has focused on retail services for corporate customers engaged in manufacturing and trading consumer goods and basic goods; exporters, and companies with key local products like sugar, agricultural products and petrochemicals. These customers were little affected by economic slowdown. In particular, SeABank’s lending focuses on five priority areas, namely agriculture, countryside development, export, small and medium-sized enterprises (SMEs) and companies with high-tech applications.
With its well-directed and practical activities, after one year of operation, SeABank Quang Ngai made a profit.
Would you mind elaborating your operating programmes?
SeABank Quang Ngai has launched many programmes. For business households, SMEs and individuals, SeABank applied preferential interest rate programme with an annual rate of 9.9 - 11 per cent, which was expected to be brought down to 8.9 -10 per cent soon. Housing loan programme offered an annual interest rate of as low as 11 per cent with a maturity of 20 years, with zero interest in the first month. SeABank exempted all charges for customers using salary payment services like cash withdrawal fee, notification messaging charge, salary payment fee, and annual maintenance fee.
SeABank established a consultant and informant team responsible for introducing products, procedures and conditions for loans and deposits at the bank. SeABank also reduced the time for procedure settlement.
In addition, direct service for customers is also enhanced. All customers are always welcomed with a smile on the face of professional consultants who are at all times willing to answer questions and advise optimal financial solutions. So, going to SeABank, customers are always satisfied.
As known, apart from financial performance, SeABank also actively takes part in many social activities. Would you be kind enough to tell us about some typical activities?
With the business philosophy "Tying business to social responsibility", SeABank regularly participates in social development activities, donates charitable funds, and delivers reliefs to people in trouble.
In 2013, SeABank presented gifts worth VND15 million to the Quang Ngai Children Assistance Centre, coordinated with the centre to hand presents to poor children, organised a gala on the occasion of the Mid Autumn Festival for children in Ly Son Island, handed scholarships worth VND10 million for students in Nghia Phuong and Vo Bam secondary schools.
What are your development orientations in the coming time?
Aiming to become a leading retail bank in Vietnam, in the future, SeABank will expand its operating network to all districts in the province of Quang Ngai. However, according to the Decree 01 of the State Bank of Vietnam on restrictions on bank branch opening, SeABank has no plans to expand its network this year. But, in the following year, SeABank will open more transaction offices in Tu Nghia and Son Tinh districts to meet the growing borrowing and deposit demands of local people because the two districts have favourable traffic systems for trade development, have dense population and high incomes.
What is your opinion about investment business in Quang Ngai province?
In my opinion, Quang Ngai has a favourable position and gathers favourable conditions for economic development as it has a very good transportation infrastructure system, locates in the central key economic zone, and has government-prioritised Dung Quat Economic Zone. In addition, the province has four industrial parks and 15 industrial clusters for investors. The province also has the first oil refinery of the country, has Dung Quat deepwater seaport capable of receiving ships of 100,000 DWT. With these advantages, Quang Ngai province has successfully organised many investment promotion events.
However, Quang Ngai needs to continue with its administrative reform, create more favourable conditions for investors, pay special attention to investment procedures, especially those relating to land clearance, introduce more incentives for investors like land rent and tax, invest for better traffic infrastructure, improve the quality of human resources, etc.