Vietnam’s Eximbank has been revised to Stable from Negative by Standard & Poor’s Global Ratings.
The stable outlook reflects our expectation that the bank will continue its restructuring efforts, characterized by selective loans growth and strict underwriting standards, over the next 12-18 months. the resilience of Eximbank’s financial profile has improved on the back of a solid rebound in profitability in 2016 and 2017, and the expected benefit from the restructuring of its business and risk management.
According to S&P Global Rating: “Eximbank’s new management team has reinvigorated the bank with a well-executed restructuring plan. The plan primarily realigns the bank to its
traditional strengths in trade financing and institutes stricter risk
management and cost controls.”
According to Mr.Yutaka Moriwaki – Head of Restructuring Project, Member of BODs:
“When we started restructuring plan called “New Eximbank” at the end of 2016, we did not have clear business strategy, efficient organization to support business development, nor fair and transparent HR system to motivate staffs. During the past two years, we have developed mid-term strategy to be a leading quality bank, while creating performance-oriented HR system, so that the all the bank managers and staffs share the same direction to improve our bank. We have also continued to transform organization both in head office and branch networks, so that we can better serve for our customer’s needs.
Even though we are still on the way to complete restructuring plan, we hope we can make Eximbank in a better shape in the near future, not only by reveleging our strength but also by enhancing corporate governance and risk management”
In addition, Mr.Nguyen Canh Vinh – Standing Deputy CEO:
“ The revision Stable from Negative by Standard & Poor’s reflected that Eximbank growth has been on track after hardship periods. With the new replacement of Corebanking in September, the customer service and risk management will be strengthened in order to get Eximbank back to be one of the top commercial banks in Vietnam”
Through 29 years operation since establishing, Eximbank is positioned as one of the financial institutions with strong growth in product development, trusted services, quality of infranstructure for Community services. In addition with solid growth strategy as transformation is a core factor, Eximbank is endlessly continuing to enhance competitive advantages and renovation & transformation is our long-term investment to create more benefits for corporate and retail customers and turn the expectation into reality for future.