MB recognised as “Best FX Bank in Vietnam” for second consecutive year

This marks the fourth time in nine years, and the second consecutive year, that MB has received this prestigious recognition, reaffirming the bank’s outstanding capabilities and market-leading position in foreign exchange, derivatives, and international payments.

According to financial consultants The Asian Banker, MB was honoured in the “Best FX Bank in Vietnam” category for its scale of operations, strong market position, robust digital transformation capabilities, and high-quality human resources. With a large market share and a diverse product portfolio, MB’s foreign exchange business has sustained impressive growth over the years and is consistently recognised as one of the top choices in the market.

Over the past three years, FX trading volumes at MB have grown at an average annual rate of nearly 30 per cent, with the bank consistently ranking among the top five credit institutions in both transaction scale and efficiency. In 2024, MB reported total operating income exceeding $2.1 billion, up 17 per cent on-year, driven primarily by FX and transaction banking services.

The bank also maintained strong profitability, posting a 21.5 per cent return on equity and 2.2 per cent return on assets, figures that underscore its sustainable competitive edge.

In addition to strong financial performance, MB is also a pioneer in digital innovation for corporate banking services. Its Biz MBBank platform has been comprehensively upgraded, enabling clients to open import letters of credit (L/Cs) online, with processing time reduced by up to 80 per cent, completing in as little as 180 minutes. The platform also integrates key functions such as loan disbursement, spot FX, and forward FX transactions, providing a seamless experience within a single digital ecosystem.

Moreover, MB introduced MBeeChat, a real-time digital channel that allows clients to negotiate and execute FX transactions instantly. The bank is also at the forefront of AI application in trade finance, leveraging its DOCAi solution to improve document processing speed and accuracy.

Thanks to these end-to-end digital innovations, MB has sustained a high level of digital transaction activity, significantly strengthening its funding structure. As of the end of 2024, MB reported a current account saving account ratio of 39.3 per cent, the highest in the Vietnamese banking sector.

The “Best FX Bank in Vietnam” award from The Asian Banker is well-earned recognition of MB’s commitment to delivering tailored FX, international payments, and financial solutions that meet the evolving needs of customers. The award reflects the bank’s professionalism, reputation, and increasing competitiveness in modern banking.

More than just an industry accolade, this award marks a significant milestone in MB’s journey to drive sustainable growth, anchored in customer-centricity and continuous innovation to elevate service quality.

With the "Best FX Bank in Vietnam" award received at the ceremony on May 22 in Jakarta, MB not only continues to solidify its position as one of the leading banks in the foreign exchange and international payment sectors in Vietnam but also reaffirms its commitment to providing advanced, safe, and efficient financial products and services.

The bank will continue to strive, innovate, and develop financial solutions to bring the highest satisfaction to both domestic and international customers.

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