These top-tier rankings are judged based on three primary criteria: financial capability as reflected in their latest annual financial reports; media reputation, evaluated through a method known as media coding; and surveys conducted by various stakeholders in June 2023.

In addition to its notable achievements, MB secured a prestigious position in Vietnam Report's Top 5 Most Reputable and Efficient Public Companies for 2023.

Pham Nhu Anh, CEO of MB, emphasised that the bank's ambition transcends mere digitalisation. By 2026, MB seeks to fully evolve into a digital conglomerate.

"Our aspiration is for 50 per cent of the group's revenue to come from digital channels in the future. This pivot towards becoming a digital entity will continue to be anchored by our two main platforms: the MBBank App (for individual customers) and BIZ MBBank (for corporate clients)," he said.

With significant investments in technology and a forward-thinking vision, MB has achieved commendable milestones. By the end of June 2023, its Current Account Savings Account (CASA) ratio reached 37.06 per cent in Group 1, the highest among joint-stock commercial banks.

Its CASA deposit size remains at the industry's forefront. With its impressive customer acquisition rate, MB can boast almost 23.5 million individual customers and nearly 300,000 corporate clients as of June end. Transactions conducted digitally were impressively high, standing at 96 per cent.

Innovation and product diversity

The expert council of Vietnam Report praised MB for its relentless efforts in continuous innovation, improvement, and pioneering the introduction of high-tech products, diversifying its services according to customer demands and experiences.

From mid-2022 onwards, MB stirred the market by launching the MB Hi Collection, a 2-in-1 card integrating both credit and ATM functionalities. This multifunction card offers immediate physical card ownership, bypassing the usual waiting time associated with traditional card applications. The card is activated in less than 60 seconds post-identification on the MBBank app. This innovation not only establishes a fresh trend in Vietnam but also provides a seamless cashless spending experience.

Moreover, the financial investment application 'Wealth Management' on the MBBank App elevates the financial ecosystem experience, connecting investors with a diverse range of financial products, bolstered by reputable market advisory. With a vast customer base and a high digital transaction rate of 96 per cent), this investment application promises robust growth.

In tandem with app-based offerings, MB is honing its self-service banking with MB SmartBank, allowing 24/7 transactions. Integrated in a seamless online to offline model connected with the MBBank App. It provides a "triple-no" experience – "no time wasted", "non-stop operation", and "no need for cards or documents," offering a streamlined digital banking experience that's increasingly overshadowing traditional bank branches.

With the banking landscape in a state of flux, MB's strategic positioning and innovations ensure it remains a formidable force in the industry.