Developing banking services at Nam Viet Commercial Joint Stock Bank - 12

The effective development of banking services is also the foundation for Navibank’s sustainable development in the future.

CONCLUDE

In the context of increasingly fierce competition, each bank must make comprehensive efforts in all its activities to survive and develop, in which the development of banking services is extremely important.

Therefore, managers must set out a strategy to develop modern services and utilities to compete more effectively. Service development not only helps the bank improve its competitiveness, but also diversify services for customers to choose from, and at the same time bring more conveniences to customers, boosting the bank’s business performance.

However, in order to develop banking services with high efficiency, banks need to develop a specific roadmap and prepare the necessary factors for this development.

On the basis of understanding the factors affecting the development of services, understanding the business activities of Nam Viet Bank in general and the current situation of banking service provision in particular, the author stated: Navibank’s business mainly focuses on traditional services, the services provided are poor, service quality is still limited, the proportion of income from service activities is not high, modern banking services are only Just started implementing…

These lead to problems and affect the development of banking services of Navibank. Through the research, the author proposes a number of solutions that are long-term and consistent with the service development orientation of the State Bank in order to create conditions for Navibank to develop sustainably in the future.

REFERENCES

1. Annual report from 2009 to 2012 of Navibank

2. Doan Thi Thu Suong, 2011. Development of banking services in Vietnamese commercial banks. Master thesis. University of Economics Ho Chi Minh City.

3. Hoang Trong and Chu Nguyen Mong Ngoc, 2008. Applied statistics. Statistical publisher

4. Nguyen Dang Don et al., 2007. Commercial banking operations. Statistical publisher.

5. Nguyen Dang Don, 2005. Credit and banking operations. Statistical publisher.

6. Nguyen Minh Kieu, 2006. Banking operations. Statistical publisher

7. Circular 03/2008/TT – NHNN dated 11/08/2008

8. Tran Huy Hoang, 2007. Commercial Bank Management. Social Labor Publishing House.

9. Tran Kim Ngoc Tram, 2011. Solutions for developing banking services at Ho Chi Minh City Housing Development Joint Stock Commercial Bank. Master thesis. University of Economics Ho Chi Minh City.

10. Tran Thi Thuy Linh, 2011. Developing products and services at Joint Stock Commercial Bank for Industry and Trade of Vietnam. Master thesis. University of Economics Ho Chi Minh City.

APPENDIX 1: QUESTIONS

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CUSTOMER COMMENTS COLLECTION FORM

Customer name:

Phone number:

Sex: Female male
The age: Under 20 From 20 to 30
  From 30 to 40  
  From 40 to 50 Over 50
Income: Under 4 million From 4 million to 10 million VND
  From 10 million to 15 million VND Over 15 million won

Maybe you are interested!

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I. GENERAL INFORMATION

Time you use Navibank banking services:

< 1 year 1 year – less than 2 years
2 years – less than 3 years 3 years

Banking services you are using at Navibank (You can choose many different options)

a. Mobilization capital  
Deposit payment Certificates of deposit Short-term
Saved money Debentures
b.Credit  
Loan for home repair, home purchase Study abroad loan
Loans for production, life Savings book mortgage loan
Other loans  
c.Payment of treasury  
Domestic money transfers Pay the bill telephone
Cash collection and payment  
d. Forex service  
Transfer money overseas Receive money from Western Union
e. Money business  
Transactions now (Spot)  
f. Current bank great  
Internet Banking Mobile Banking
Phone Banking Vntopup
Online payment line Navicard

Do you have any transactions with any banks other than Navibank? If yes, please specify the name of the bank

Yes No

Bank: ……………………………………………………………

Would you recommend Navibank banking services to others?

Yes No

Are you ready to come to Navibank when there is a need in the near future?

Yes No

II. CUSTOMER SATISFACTION SURVEY ON NAVIBANK’S BANKING SERVICES

Please indicate your level of agreement with the statements in the following table:

(Circle the appropriate box, please do not leave it blank)

Number ELEMENT Totally agree Agree Normal Disagree Totally disagree
A Trust          
1 Navibank always fulfills its commitments to you about banking services          
2 Can Navibank’s banking services meet your needs?          
3 Navibank does the right service right the first time          
4 Navibank keeps information well for customers          
5 Navibank did not make any mistakes          
B Feedback          
6 Navibank staff give advice to you          
7 Navibank staff perform services for you quickly          
8 Navibank staff are always ready to help you          
9 Navibank staff always respond to your requests          
C Guarantee          
10 Navibank employees create trust in you          
11 Do you feel safe when choosing Navibank banking service?          
12 You are always welcomed warmly and thoughtfully          
13 Navibank staff has enough professional knowledge to answer your questions          
D Sympathy          
14 Navibank calls or sends greeting cards to you on birthdays, holidays, Tet…          
15 Navibank is very interested in your interests          
16 Navibank staff clearly understand your needs          
17 There are often sweepstakes or gifts for you          
E The tangible          
18 Very modern equipment          
19 Nice facilities          
20 Neat and polite Navibank staff uniforms          
21 Convenient parking for customers          
22 Wide trading network          
F Satisfaction          
23 Reasonable transaction fees          
24 Attractive interest rates          
25 In general, you are completely satisfied when dealing with Navibank          

III. OTHER COMMENTS (Besides the above, do you have any other comments, please specify them below to help Navibank improve customer satisfaction)

Thank you very much for your valuable comments

ANNEX 2: RELIABILITY ANALYSIS

Appendix 2.1: Cronbach Alpha Reliability Analysis of the 1st Trust component

Reliability Statistics

Cronbach’s Alpha N of Items
.716 5

Item-Total Statistics

  Scale Mean if Item Deleted Scale Variance if Item Deleted Corrected Item-Total Correlation Cronbach’s Alpha if Item Deleted
TT1 12.90 3.930 .478 .666
TT2 13.06 4.093 .494 .663
TT3 13.06 3.608 .643 .600
TT4 12.85 3.559 .516 .651
TT5 13.19 4.383 .274 .746

Appendix 2.2: Cronbach Alpha reliability analysis of the 2nd Trust component

Reliability Statistics

Cronbach’s Alpha N of Items
.746 4

Item-Total Statistics

  Scale Mean if Item Deleted Scale Variance if Item Deleted Corrected Item-Total Correlation Cronbach’s Alpha if Item Deleted
TT1 9.83 2.715 .526 .695
TT2 9.98 2.903 .522 .699
TT3 9.98 2.769 .516 .700
TT4 9.77 2.311 .606 .649

Appendix 2.3: Cronbach Alpha reliability analysis of the Response component

Reliability Statistics

Cronbach’s Alpha N of Items
.775 4

Item-Total Statistics

  Scale Mean if Item Deleted Scale Variance if Item Deleted Corrected Item-Total Correlation Cronbach’s Alpha if Item Deleted
PH1 9.72 2.968 .562 .730
PH2 9.76 2.766 .551 .743
PH3 9.74 2.848 .683 .667
PH4 9.86 3.349 .544 .742

Appendix 2.4: Cronbach Alpha reliability analysis of the Assurance component

Reliability Statistics

Cronbach’s Alpha N of Items
. 750 4

Item-Total Statistics

  Scale Mean if Item Deleted Scale Variance if Item Deleted Corrected Item-Total Correlation Cronbach’s Alpha if Item Deleted
DB1 9.49 2.760 .511 .713
DB2 9.45 2.746 .562 .683
DB3 9.36 2.850 .504 .715
DB4 9.54 2.771 .610 .659

Appendix 2.5: Cronbach Alpha reliability analysis of the Sympathy component

Reliability Statistics

Cronbach’s Alpha N of Items
. 697 4

Item-Total Statistics

  Scale Mean if Item Deleted Scale Variance if Item Deleted Corrected Item-Total Correlation Cronbach’s Alpha if Item Deleted
CT1 9.56 2.478 .629 .531
CT2 9.17 2.893 .497 .623
CT3 9.23 3.026 .320 .740
CT4 9.54 2.977 .512 .618

Appendix 2.6: Cronbach Alpha reliability analysis of the Tangible component

Reliability Statistics

Cronbach’s Alpha N of Items
. 783 5

Item-Total Statistics

  Scale Mean if Item Deleted Scale Variance if Item Deleted Corrected Item-Total Correlation Cronbach’s Alpha if Item Deleted
HH1 11.00 4.012 .544 .747
HH2 10.98 4.266 .421 .786
HH3 10.91 3.998 .493 .764
HH4 11.01 3.685 .678 .701
HH5 11.02 3.727 .669 .705

Appendix 2.7: Cronbach Alpha reliability analysis of Satisfaction component.

Reliability Statistics

Cronbach’s Alpha N of Items
. 723 3

Item-Total Statistics

  Scale Mean if Item Deleted Scale Variance if Item Deleted Corrected Item-Total Correlation Cronbach’s Alpha if Item Deleted
HL1 6.17 1.406 .588 .581
HL2 6.28 1.499 .500 .687
HL3 6.43 1.410 .545 .634

APPENDIX 3: DISCOVERING FACTOR ANALYSIS Appendix

3.1: First exploratory factor analysis

KMO and Bartlett’s Test

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Total Variance Explained

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1 5.096 24.266 24.266 5.096 24.266 24.266 2.716 12.934 12.934
2 2.385 11.356 35.622 2.385 11.356 35.622 2.612 12.436 25.369
3 1.815 8.645 44.267 1.815 8.645 44.267 2.509 11.948 37.317
4 1.654 7.877 52.145 1.654 7.877 52.145 2.175 10.359 47.676
5 1.286 6.125 58.270 1.286 6.125 58.270 2.132 10.152 57.828
6 1.009 4.804 63.074 1.009 4.804 63.074 1.102 5.246 63.074
7 .901 4.293 67.367            
8 .800 3.808 71.175            
9 .733 3.492 74.666            
10 .656 3.126 77.792            
11 .602 2.868 80.660            
12 .564 2.687 83.347            
13 .529 2.521 85.868            
14 .489 2.329 88.197            
15 .462 2.200 90.397            
16 .438 2.084 92.481            
17 .390 1.858 94.339            
18 .369 1.757 96.096            
19 .321 1.530 97.626            
20 .281 1.336 98.962            
21 .218 1.038 100.000            

Extraction Method: Principal

Component Analysis.

Rotated Component Matrixa

  Component          
  1 2 3 4 5 6
HH4 .852          
HH5 .829          
HH1 .727          
HH3 .591          
HH2 .545          
DB4   .790        
DB2   .691        
DB1   .681        
DB3   .678        
PH3     .822      
PH2     .788      
PH4     .688      
PH1     .674      
CT4       .818    
CT1       .811    
CT2       .672    
TT2         .798  
TT3         .745  
TT4         .656  
TT1         .532  
CT3            

Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. a. Rotation converged in 6 iterations.

Appendix 3.2: Second exploratory factor analysis

KMO and Bartlett’s Test

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Total Variance Explained

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1 4.990 24.948 24.948 4.990 24.948 24.948 2.757 13.783 13.783
2 2.385 11.924 36.871 2.385 11.924 36.871 2.485 12.425 26.209
3 1.766 8.828 45.699 1.766 8.828 45.699 2.468 12.342 38.551
4 1.611 8.056 53.756 1.611 8.056 53.756 2.254 11.268 49.819
5 1.278 6.392 60.148 1.278 6.392 60.148 2.066 10.329 60.148
6 .987 4.933 65.081            
7 .824 4.122 69.203            
8 .774 3.868 73.071            
9 .657 3.284 76.355            
10 .604 3.019 79.374            
11 .569 2.847 82.221            
12 .529 2.647 84.869            
13 .489 2.446 87.314            
14 .468 2.338 89.653            
15 .453 2.265 91.917            
16 .402 2.011 93.928            
17 .387 1.937 95.865            
18 .325 1.624 97.489            
19 .284 1.420 98.909            
20 .218 1.091 100.000            

Extraction Method: Principal

Component Analysis.

Rotated Component Matrixa

  Component        
  1 2 3 4 5
HH4 .829        
HH5 .811        
HH1 .723        
HH3 .625        
HH2 .607        
DB4   .788      
DB2   .683      
DB1   .675      
DB3   .675      
PH3     .831    
PH2     .772    
PH4     .722    
PH1     .661    
TT2       .774  
TT4       .732  
TT3       .728  
TT1       .622  
CT4         .831
CT1         .801
CT2         .690

Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. a. Rotation converged in 5 iterations.

Appendix 3.3: Factor analysis to explore the satisfaction component

KMO and Bartlett’s Test

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Total Variance Explained

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 7

KMO and Bartlett’s Test

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Extraction Method: Principal Component Analysis.

Component Matrixa

  Component
  1
HL1 .834
HL3 .805
HL2 .768

Extraction Method: Principal Component Analysis. a. 1 components extracted.

ANNEX 4: RESIDENTIAL AND CONCLUSION ANALYSIS

Correlations

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Variables Entered/Removedb

Model Variables Entered Variables Removed Method
1 PH, HH, CT, TT, DBa . Enter

a. All requested variables entered.

b. Dependent Variable:

HL Model Summary

Model R R Square Adjusted R Square Std. Error of the Estimate
1 .727a .528 .513 .39211

a. Predictors: (Constant), PH, HH, CT, TT, DB

ANOVAb

Model Sum of Squares Df Mean Square F Sig.
1 Regression Residual Total 27.500 24.600 52.100 5 160 165 5.500 .154 35.773 .000a

a. Predictors: (Constant), PH, HH, CT, TT,

DB

Variables Entered/Removedb

Model Variables Entered Variables Removed Method
1 PH, HH, CT, TT, DBa . Enter

b. Dependent Variable: HL

Coefficientsa

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 10

a. Dependent Variable: HL

ANNEX 5: ANOVA ANALYSIS

Appendix 5.1: Analysis of differences by sex.

Test of Homogeneity of Variances

HL

Levene Statistic df1 df2 Sig.
.231 1 164 .631

ANOVA

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Appendix 5.2: Analysis of differences by age

Test of Homogeneity of Variances

HL

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Appendix 5.3: Analysis of differences by income.

Descriptives

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Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 16

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 17

Appendix 5.4: Analysis of differences over time of use.

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 18

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 19

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 20

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 21

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 22

Appendix 5.5: Analysis of differences in service referrals

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 23

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 24

Appendix 5.6: Analysis of differences in future usage needs.

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 25

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 26

APPENDIX 6: DESCRIPTION STATISTICS

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Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 28

Developing banking services at Nam Viet Commercial Joint Stock Bank - 12 228 29

  N Minimum Maximum Mean Std. Deviation
TT1 166 2 5 3.36 .689
TT2 166 1 5 3.20 .618
TT3 166 1 5 3.20 .674
TT4 166 2 5 3.42 .787
TT5 166 1 5 3.08 .713
PH1 166 2 5 3.31 .736
PH2 166 2 5 3.27 .818
PH3 166 2 5 3.28 .695
PH4 166 2 5 3.17 .609
DB1 166 1 5 3.13 .740
DB2 166 1 5 3.16 .708
DB3 166 2 5 3.25 .711
DB4 166 2 5 3.07 .666
CT1 166 2 5 2.94 .768
CT2 166 2 5 3.33 .708
CT3 166 2 5 3.27 .812
CT4 166 2 5 2.96 .664
HH1 166 1 5 2.73 .646
HH2 166 1 4 2.75 .655
HH3 166 1 5 2.82 .690
HH4 166 1 4 2.72 .659
HH5 166 2 5 2.71 .652
HL1 166 2 5 3.27 .689
HL2 166 2 5 3.16 .699
HL3 166 2 5 3.01 .713
Valid N (listwise) 166        

ANNEX 7: Summary of products and services of Nam Viet Bank and some other banks

Sacombank HSBC ANZ Navibank

Banking service group on capital mobilization

Individual customers

Current deposit – Daily term savings – Dong dong savings – Au Co account – Yield account – Traditional term savings – Daily installments – Advantageous medium-term savings – Deposit future – Versatile deposit – Housing savings Current account – Security account – Term deposit – Online deposit account -Online winning account -Term savings account -Multiple fortune account -Smart account Paying deposit – Savings deposit – Savings deposit accumulating value

Corporate customers

-Date deposit -Payment deposit -Commodity transaction payment -MSmart deposit -Deposit for capital contribution to buy shares for foreign investors -Escrow deposit -mFree deposit – Regular term deposit – Hoa Viet payment deposit. -Current account -Term deposit account -Safety account -Corporate payment deposit account -Cash management account -Term deposit account -Payment deposit -Term deposit – Margin deposit

Credit banking service group

Individual customers

-Studying loan -Loan to buy a house -Loan to buy a car -Borrow to prove financial capacity -Consumer loan – My Tin -Employee consumption loan -Consumer loan – Bao Tin -Small business loan market -Support loan Supporting women to start a business -Business loans -Securities loans -Consumer loans -Bao Toan -Pledge loans with valuable documents. -Home loan -Real estate loan – home repair -Real estate mortgage loan – Study abroad -Real estate mortgage loan – other purposes -Car loan -Secured overdraft -Consumer loan -Home loans – home construction – Home mortgage loans -Consumer loans -Short-term loans secured by deposits Borrowing to buy a house, repair a house, build a house -Borrow to supplement capital for production and commerce -Borrow for study abroad -Loan for life -Loan for mortgage of savings book -Loan to buy a car

Corporate customers

Domestic and foreign guarantees – Loans for production and business – Loans for investment in assets/projects – Overdrafts secured by deposits – Loans for car dealerships – Financing for domestic production and business fish sauce in Phu Quoc -Sponsoring domestic trade -Sponsoring imports -Sponsoring coffee production and business -Working capital financing -Bill discounting -Trade financing -Bond underwriting -Working capital loans -Term loans -Finance leasing -Import and export financing -Trade finance -Guarantee Loans to supplement working capital – Import and export financing – Loans for investment in factories, office warehouses, fixed assets – Loans for implementation of housing and residential land projects – Loans to businesses car business -Deposit account overdraft -Guarantee

Banking service group on payment and treasury

Individual customers

Money transfer – Gold custody service – IME, MoneyGram, Xpress Money, Coinstar remittance payment service – Check supply and issuance service – Safe deposit box rental service – Domestic fast gold transfer service – Payment service for Cambodian and Lao checks – Traveller’s check exchange service – Over the counter bill payment service – Real estate payment intermediary Money transfer – Traveller’s check – Bill of exchange collection Money transfer – Bill of exchange – Payplus service Money transfer – Telephone fee collection – Asset storage service, valuable papers – Western union service – Collection and payment service – Foreign currency exchange

Corporate customers

Transfer money – Collection and payment – Set up counters at designated points Money transfer – Receivables management solution – Liquidity management solution Transfer money – Manage accounts receivable and payable – Liquidity management Transfer money – Collection and payment

Banking service group on foreign exchange

Individual customers

Foreign currency futures trading – Foreign currency spot trading, gold – Foreign currency call options trading Foreign currency spot trading Foreign currency spot trading Spot forex trading

Corporate customers

Swaps, spot, forward, foreign currency options Transactions in spot and forward foreign exchange. – Structural products Swaps, spot, forward, foreign currency options Foreign currency spot trading – Forex futures trading – Foreign currency swaps

E-banking service

Individual customers

Mobile banking, Internet banking, Phone banking Online banking – Mobile banking – Phone banking E-banking service – 24/7 customer service center Online payment – Mobile banking, Internet banking, Phone banking

Corporate customers

Mobile banking, Internet banking, Phone banking Online banking service Ngân hàng điện tử dành cho doanh nghiệp (eBiz) Mobile banking, Internet banking, Phone banking

Card banking service

Individual customers

International credit card – International payment card – Prepaid card – Plus payment card – Family credit card Credit card – International payment card ANZ credit card – Global payment card Domestic Debit Card – Domestic Credit Card – Payoo Link Card

Other banking services group

Individual customers

Financial plan – Education guarantee – Retirement guarantee – Investment-linked deposit Travel insurance – Life insurance – Investment: bi-currency deposits, structured deposits, foreign investments Security insurance – Investment: structural investment, dual currency investment  

Corporate customers

Gold and foreign currency exchange investment and insurance services – Commodity derivative products – Structured products Property insurance, personnel insurance, marine insurance – Bond issuance consulting Market for debt instruments – Interest rate derivatives – Structured investment products  

“Source: Website of HSBC Bank, ANZ Bank, Sacombank, Navibank”

The above service summary shows that Navibank has only diversified in credit services, while other services are relatively poor compared to other banks. Especially in terms of card services, Navibank can only issue domestic debit and credit cards, while other banks already have international credit cards, international payment cards, prepaid cards…

For the group of payment and treasury services, especially international payment, Navibank has not developed strongly because it does not have the advantage of branches in many countries around the world like HSBC and ANZ.

In addition, Navibank has not yet deployed other banking services such as insurance, investment, financial consulting, etc.

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