MHB starts Core Banking

After 12 years of operation, up to December 31, 2009, Mekong Delta Housing Development Bank (MHB) reported to have total assets value of over 39.779 trillion dong, equivalent to $2 billion, an increase of 11 times in comparison with the establishment date. The bank targeted to expand its network to 250 transaction offices nationwide in 2010 and set up agent relations with about 300 foreign banks in 50 countries in all over the world.

The bank’s major business line was to offer credit for small and medium enterprises (SMEs), and loans for individual householders, especially asset-guaranteed mortgage services for construction firms to develop infrastructure facilities for residential quarters, especially in Mekong Delta region.

The bank has offered loans of over 20.136 trillion dong in 2009, about 16 times higher than that of 2001 of 1.206 trillion dong.
In 2009, the value of MHB’s capital and funds reached over 1.2 trillion dong, with capital safety ratio of over 8.05%. The bank’s capital sources were always guaranteed with long-term authorised capital source of about one trillion dong from French Development Agency (AFD project), World Bank (RDF2) and State Bank of Vietnam (projects of ADB and SMEFPII)

From 2008, MHB signed a deal worth $3 million with Polaris Software Ltd, the leading banking solution provider in India for building up the administration software of Core Banking for MHB. After two years of preparation and installation, on February 1, 2010, the bank’s Core Banking was officially put into operation. This system was expected to bring in large changes in MHB’s transaction and management works.

With modern Core Banking, the customers only need one customer code in the bank to access various banking products at any transaction points nationwide under MHB network with high security level.

Tags: Mekong Delta Housing Development Bank, vietnam bank, Vietnam finance, Vietnam financial

Posted by VBN on Jun 11 2010. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry