KienlongBank pioneers in synchronously implementing both Basel III & ESG projects

ANTD.VN - With the synchronous implementation of both Basel III & ESG projects, KienlongBank is demonstrating its great efforts and determination in improving risk management capacity and resilience to unpredictable fluctuations, while promoting the Bank's sustainable development, meeting environmental, social and governance standards according to international and Vietnamese practices.

Pioneering comprehensive implementation of Basel III & ESG

As two key strategies in modern banks, the Basel III standards (International standards on bank capital safety) and the ESG standards (Environmental, Social & Governance - Framework for assessing and measuring sustainability and responsibility to the environment and society of enterprises) have become the yardstick for sustainable development goals, contributing to international integration. Recognizing the role in contributing to building and maintaining a sustainable economy , KienlongBank has set a clear development orientation to build a bank that not only grows in scale and is strong in governance but also aims to build a strong ecosystem that is environmentally friendly and meets the requirements of social responsibility.

Mr. Tran Ngoc Minh - Chairman of the Board of Directors of KienlongBank and Mr. Tran Hong Minh - Acting General Director of KienlongBank presented flowers to thank and congratulate the two partners and the Project Board.

At KienlongBank, after the success of Basel II implementation, the Bank has also promptly embarked on Basel III implementation following a comprehensive roadmap on all three pillars to improve capital quality and liquidity, resilience to incidents, recovery after incidents and contribute to preventing possible systemic losses. At the same time, the Bank has also strengthened the implementation of ESG standards to meet environmental, social and governance standards according to Vietnamese and international practices.

With the determination of the Board of Directors and the great efforts of the Project Board members along with the dedicated advice from two prestigious strategic partners (KPMG & EY), KienlongBank marked an important milestone in the journey of relentless efforts. The Bank has completed Basel III standards on liquidity and capital standards. This is considered a shortcut in complying with regulations suitable for the specific operations of commercial banks.

The Bank has also published an ESG Sustainability Report according to international standards with 4 major topics to be put into operation in real conditions and environments. In particular, the report has 14 key topics, 55 GRI standards applied and an approach based on 4 core pillars. Along with that, the Bank also issued its own ESG manifesto including: Persistent sustainable growth, Persistent for customers, Resolute professional development and Persistent in governance activities.

Towards the 30-year milestone of KienlongBank's establishment and development (1995-2025), "reaching the finish line" and pioneering the synchronous implementation of these two key projects is not only a success in complying with the Bank's long-term strategic orientation but also a commitment, affirming the Bank's Board of Directors' high determination in focusing resources to improve management capacity, enhance customer experience, develop sustainable financial products and increase value for society with the mission of "sharing green values, pioneering participation in green programs and activities for the benefit of community development" .

Ready resources for the journey to the open sea

Faced with the constant changes of the times, KienlongBank has determined a transformation strategy to be ready to reach out to the ocean, adapt to the "taste" of diverse customer groups in the digital age and keep up with the market, helping to increase competitive advantage and capture market share.

Three key leaders named "Minh" have accompanied, joined hands, and made efforts to create a revolution in Digital Transformation at KienlongBank.

With this determined spirit, KienlongBank's organizational and governance foundation issues are constantly focused on, improved, and resources are invested to develop and become one of the three core pillars (Technology Transformation, Governance Model Transformation, Human Transformation) in the new period. In particular, risk management capacity is especially focused on and can be considered one of the "vital" tasks at KienlongBank, with the complete construction of comprehensive risk assessment methods and defense scenarios according to international standards with the accompaniment of leading consulting units.

It can be seen that being responsive to the market and proactively offering drastic and synchronous solutions in the new development strategy has contributed to the success of KienlongBank so far. In addition to effective and safe financial indicators, KienlongBank's sustainable development goals continue to be promoted with a transparent and cohesive working environment; as well as practical social activities in the spirit of considering the common interests of the community as the core value that KienlongBank aims for.

Source: https://www.anninhthudo.vn/kienlongbank-tien-phong-trien-khai-dong-bo-ca-2-du-an-basel-iii-esg-post597419.antd