CHAPTER III FOREIGN CASH BUSINESS STRATEGY OF VIETINBANK MTOII
II. FOREIGN CASH BUSINESS ORIENTATION OF VIETINBANK MTOII IN 2010
II.1) Promotion of customer network efficiency, bank receipts and payments foreign cash:
Vietinbank MTOII takes the initiative building foreign cash business plan realizing objective come to 2010 net income in currency foreign business average per year is 30%. Detail, following:
In 2008 – 2009:
To reinforce customer network frequently having relation handing in and/
or drawing out foreign cash with Vietinbank MTOII, notice to strengthen control to increase quality of currency foreign collection Agents network to ensure that
agents collect and exchange (purchase currency foreign) with rate which Vietinbank MTOII reports and sells whole bought currency foreign for Vietinbank MTOII.
Having policy about preferred service fee spends for credit organization, economic organization, and overseas national currency Exchange Company, travel company, etc. open deposit currency foreign account and accounting by this account when exchanging foreign cash with Vietinbank MTOII.
Rate of foreign cash that is bought of collection agent’s account for 10% in total of cost foreign cash buy in.
Foreign cash in hand average is 2.800.000 USD.
Net income currency foreign business average per year reaches less 20 billion VND (be equivalent 1.250.000 USD).
In 2010:
Expanding customer network, increase more 05 public relation, attract more 05 new banks, 04 paying overseas national currency exchange agents, 20 restaurants/ hotels/ shops (be permitted sale/ supply receipt currency foreign service) having high expenses and/ or receipt foreign cash turn-over in area HCM city, travel area, the place has many foreigners migrate.
Rate of foreign cash is bought of collection agents account for 5% in total cost currency buy in.
Foreign cash in hand average is 2.500.000 USD.
Net income currency foreign business reach to 30 billion VND (be equivalent 1.875.000 USD).
II.2) Maintaining the center position to receive foreign currency aspects of Vietinbank MTOII with branches Vietinbank in the Southern
Determining to year 2010, Vietinbank MTOII implementation:
- The foreign currency cash for Vietinbank branch of the U.S. dollar reached:
100 million USD
- The presence of foreign currencies branches Vietinbank provisions of the U.S. dollar reached: 300 million USD
- The number of branches Vietinbank deliveries of foreign currency cash with Vietinbank MTOII is 65 branches
II.3) To become the centre of Export - Import foreign currency cash to meet the demand for foreign currencies cash the credit organizations in the province of Ho Chi Minh City:
Have plans to market the bank in the province to receive foreign currency cash with Vietinbank MTOII, special attention to:
- The banks have a need to collect more foreign currencies large presence in the province of Ho Chi Minh City
- Branches foreign banks operating business in the province of Ho Chi Minh City have a need to pay cash foreign currency to customers, but no network is to attract foreign currency into the banking side
- The banks in the country network of branches, and transactions in the province of Ho Chi Minh City to mobilize, attract foreign currency from customers face increasing capital but did not qualify or did not have the ability to export or consumption is the amount of foreign currency face gained exceed the conservation fund in this bank
Through their ability and experience in:
- Organization of import-export foreign currency present in large quantity to ensure safe, fast
- And, signed the contract buying and selling foreign currency with banks overseas agents on strong on this field in areas such as: AMEX, HSBC, UOB, etc.
Vietinbank MTOII strives to implement in 2010:
+ Foreign currency to a bank outside the system Vietinbank provisions reached U.S.Dollars: 150 million USD
+ Received foreign currency aspects of the bank reached U.S. Dollars: 50 million USD
+ Import foreign currency from banks face of agents of foreign assigned to the bank reached U.S. Dollars 50 million USD
+ Export foreign currencies cash (kind of small money bad money and more difficult for customers) to banks overseas agents of U.S. dollars reached: 50 million USD
+ Deliveries foreign currencies cash with 35 commercial banks outside the system Vietinbank
II.4) Increase value brand Vietinbank MTOII create a premise for Vietinbank MTOII become central foreign currency payments for a number of bank:
- Results marketing the bank (did not qualify for state banks to allow international payments) in the province to receive foreign currency and face open deposit accounts in foreign currencies is Vietinbank MTOII one of the reasons attracting transfer foreign currency funds transfer and payment of international banks through Vietinbank MTOII
- The volume of international payments through Vietinbank MTOII increased again have an impact back in increased brand of Vietinbank MTOII domestically and on the field International