notes to the consolidated financial statements - Sacombank

on job position/title, and proper assignment of jobs and
segregation of responsibilities based on capabilities and
professional skills. At the same time, the Bank’s human
resources management policies in this period also target
the building of a core leadership team to carry out the
mission of inspiring zeal and enthusiasm in employees and
stimulating solidarity and dedication in each individual
in order to create the strength for the Bank to develop
sustainably. Hence, human resources will give the Bank a
competitive edge in the new era of development: an era of
intellectuality and creativity
(ii) Technology strategies continue to be one of the four
most important groups of strategies of Sacombank in
this period. After investing in the advanced core banking
platform in the previous period, from 2011, the Bank
continued to upgrade its banking technology system
to the most modern version in order to (1) improve the
productivity of operational employees and diversify and
modernise products and services like international banks;
(2) improve the competitiveness and corporate governance
capabilities of the Bank.
(iii) Financial strategies of Sacombank in the 2011-2020
period will serve as a firm platform for all activities of
business development, network promotion, service quality
improvement and productivity improvement, etc., to help
the Bank deserve the title of “the Bank of the Indochina
Region.” Accordingly, the Bank will restructure its Liability-
Asset portfolio properly to boost profit growth; increase
Total Assets and raised funds by looking for long-term
capital resources at reasonable costs through issuance of
bills of exchange and bonds in both domestic and overseas
markets; improve the efficiency of use of capital resources
through concentrating capital resources on core businesses,
and use expenses reasonably and allocate resources
properly for high-performance business activities.
(iv) Network strategies are implemented with the aim
of achieving the objectives of having 600 Transaction
REPORTS
Offices covering the whole territory of Vietnam, as well as
important provinces and cities of the two neighbouring
countries of Laos and Cambodia by 2020, and of having
Branches or Representative Offices of Sacombank set
up in Malaysia, Singapore, the United States of America,
Australia, Europe and some other countries in the ASEAN
Region. Accordingly, Sacombank’s solutions will focus on
strengthening the existing network and expanding the
reach of Transaction Offices to other geographical areas to
increase business activities, improve competitive edge and
gain market share and expand market coverage
“The risk of all risks is the human factor”; “Technology
is the result of intellectuality and creativity”; “Financial
strength is a firm foundation for all growths”; “the Network
is an effective tool for expanding markets and increasing
market share”, etc. These are the core solutions in the order
of priority, to which Sacombank will pay special attention
in the period of 2011-2020. On the basis of strengthening
the aforementioned key groups of Strategies, the
Strategies for Business – Product and Service Development
– Corporate Governance, etc. have also been studied and
developed by Sacombank with groups of solutions and
action plans interlaced and accordant with the trends of
the new era. Accordingly, specific business models, multiutility,
modern and geographically specific products and
services, as well as risk management policies according to
international standards, have also been studied, invested
in and launched across Sacombank’s entire system in this
period.
Based on the results achieved, the identified shortcomings
that need to be addressed and the lessons drawn from
previous periods, and on research and analysis of strengths,
weaknesses, opportunities and threats in the context of the
general difficulties in respect of the economy and modest
internal forces of the Bank, Sacombank is very confident in
its ability to achieve the objectives set out for the period of
2011-2020 in order to carry out its mission: “Serving the nations.”
“With proper and professional management by the Leaders at various levels, as well as the strong
and creative efforts of thousands of employees, along with the love and support of millions of
customers, shareholders and joint venture and affiliation partners, it is certain that the ambition
of the Founding Shareholders for a private Vietnamese bank to become the First Modern and
Multi-functional Retail Bank in the Region will soon come true.”
ANNUAL REPORT 2011 52