notes to the consolidated financial statements - Sacombank

ACHIEVEMENTS IN 2011
Risk management and safe operation
Risk management was implemented and understood
consistently throughout the system of Sacombank. As
a result, Sacombank fully met and complied with all the
applicable regulations of the State Bank of Vietnam. All
business activities have been managed, alerted and
monitored in order to identify, manage and minimise
potential risks. In addition, Sacombank has built and
successfully applied the Credit Rating Model, the Credit
Limit Monitoring Model, the Risk Provision System under
IFRS Standards, the Risk Factor Monitoring Model, and the
technology component in the Money Filtering and Anti-
Money Laundering Process under international standards,
thus enabling good corporate governance for the Bank in
the context of high increases in bad debts and overdue debts.
Restructuring
Following the restructuring achievements at the Bank over
recent years, Sacombank added a content component
named “Corporate Governance Innovation” to its
restructuring programme of “Organisation – Institution –
Products – Financial Structure” in 2011. Accordingly, the
Restructuring Board of the Bank launched practical, indepth
innovations relating to the activities of Sacombank’s
business units. The restructuring has contributed to
improving the business performance in line with the current
market situation. The innovations include: launching of
the programmes of “Reform of organisational structure
and corporate governance at the head office, branches
and transaction offices,” “Restructuring Subsidiaries in
accordance with the Group’s Corporate Governance
Model,” and the “One-stop Transaction Model.” Most of
these programmes have been implemented and applied
and have gradually shown their efficiency. Moreover, in
2011, innovative viewpoints were integrated into process/
procedure-making policies associated with information
technology, and business processes were put into actual use.
Banking technology modernisation
During the year, new banking technology projects
continued to be implemented, such as the management
reporting system, the customer information assessment
system, etc. In particular, the T24 operation process was
41
ANNUAL REPORT 2011
improved to reduce transaction time and improve the
performance of employees. The project for upgrading
the T24 R8 system to the T24 R11 system was initiated in
October 2011 in order to improve the functions of the core
banking system and application utilities.
Quality control and customer care
With the customer-oriented business philosophy of
“Customers’ satisfaction – Sacombank’s success,” last
year, Sacombank focused on improving customer service
quality by establishing the Productivity & Quality Board
and upgrading the Customer Service Center as a contact
point for coordination with relevant business units to
implement projects to conduct surveys on the needs and
tastes of customers, and a project for the innovation of
the customer service process. Sacombank also completed
technical projects related to the customer dealing service;
improved teller service quality and successfully launched
the One-stop Transaction Model. In addition, the Bank
provided a number of convenient and diverse products
and services that are specific to each geographical region
or area and integrated with advanced technologies. These
products and services offer many diverse choices to satisfy
the increasingly high demands of customers. Furthermore,
Sacombank thoughtfully organised the “Month of Gratitude
to Customers,” a well-prepared annual customer service
programme designed to bring satisfaction and comfort to
customers who use the Bank’s products and services.
Human resources management
In 2011, Sacombank implemented plans that focused on
the improvement of the productivity and service quality
of tellers, the management of human resources and
remuneration, the establishment of a core competencies
framework, potential manager training, succession
planning, and performance-based remuneration. These
plans were aimed at improving labour productivity,
creating a friendly and transparent working environment
and a proper compensation framework based on the skills
and abilities of each employee, and implementing the
strategy of the Board of Management on competitiveness
improvement and innovation of human resources
management in the current competitive environment.
By late 2011, the Bank had had a total of 9,596 employees,
an increase of 14.9% from 2010, and the resignation rate
was 9% in 2011.