notes to the consolidated financial statements - Sacombank

lending portfolio in accordance with the orientation
and characteristics of each geographical area/region in
order to ensure sustainability and efficiency;
n Review and assess the existing product system to make
improvements, whilst simultaneously studying and
developing new products which fit the characteristics
of each geographical area/region and are highly
competitive, especially in new markets such as Laos and
Cambodia;
n Research, develop and launch additional products
and services, especially Card, Electronic Banking,
Asset Management services, etc. in order to increase
the percentage of service incomes to create a growth
breakthrough in 2012 and subsequent years;
n Review and assess unprofitable assets in order to
increase available capital resources, tightly manage
liquidity and professionalise the use of funds raised;
n Monitor market developments and utilise opportunities
for investment in Government Bonds in order to improve
business performance and improve liquidity for the
Bank. Develop liquidity provision plans to enhance the
sense of initiative in business activities;
n Set out specific solutions for each business unit to
improve the business performance and productivity of
employees. Associate performance evaluation and job
assignments with productivity and quality;
n Improve the ability to coordinate and support the
business activities of Subsidiary Companies and overseas
operations, especially for the main business lines. Focus
on the objective of achieving the expected rate of
return set out. Simultaneously, increase inspection and
supervision in order to ensure safety in operation and
prevent probable risks;
n Increase resources to complete banking technology
modernisation projects early, especially the T24 upgrade
and Electronic Banking projects, creating a platform for
REPORTS
integrating modern technological applications into
advanced products and services and shortening the
transaction time for customers;
n Continue restructuring by increasing direct sales forces;
boost training in order to increase the sales forces in
accordance with the restructuring model, ensuring the
statutory ratios of Direct sales people : Indirect sales
people : Support people and Consultants : Tellers;
n Develop and complete the standard labour productivity
evaluation model for all job titles throughout the
Sacombank system for the purposes of training,
development and improvement of quality in operations,
focusing on direct sales people by means of salary
and bonuses to encourage improvement of business
efficiency and performance. In addition, continue to
work on maintaining a friendly working environment to
attract and retain talent.
In general, 2011 ended with great changes in the economy
and the Government’s macroscopic policies which have
significantly affected the operation of the banking sector.
However, with the rich experience and smart leadership of
the Board of Directors and the flexible, robust, responsible
and dynamic management by the Board of Management
along with the constant efforts of the Regions, Branches,
Subsidiary Companies and the Subsidiary Bank, Sacombank
has overcome all obstacles to fulfill its material plans and
objectives.
In 2012, it is forecast that Vietnam and other economies
will continue to face great difficulties. However, with
the advantage of the youthful force and zeal of over
ten thousand employees in the system across the three
countries of Vietnam, Laos and Cambodia; along with the
focus on self-help and the flexibility before changes in the
market, Sacombank is fully confident in its adaptability
and competitiveness and its determination to transform
challenges into opportunities and fulfil its business
plan for 2012, taking a firm step towards the successful
implementation of its Development Strategies for the new
period.
ANNUAL REPORT 2011 50